4201 196th St SW
Lynnwood, WA 98036
Retail Property For Sale

SELF-STORAGE POTENTIAL FOR EXISTING VACANT AREA The existing 10,700 SF vacant area offers a front-facing retail portion and a rear-facing loading area. With demising, this space could be reconfigured with front-facing retail tenants, offering desirable retail depths while the rear portion could be converted to self-storage. Given the substantial amount of new residential development in the immediate area, the existing supply of self-storage will likely be insufficient to match demand. The subject is well-configured for rear self-storage use given the ample parking at the rear of the building and two roll-up access doors. EXCELLENT VISIBILITY AND INGRESS/EGRESS The building is configured so that the retail spaces front along 196th Street SW for maximum exposure. The property offers three ingress/egress points along 196th Street SW, which provides for ease of traffic flowing to and from the center. The rear portion of the property is accessed from 196th Street SW. MAJOR CAPITAL IMPROVEMENTS Since 2010, the property received a new TPO roof membrane covering, newly installed HVAC units, interior renovations, and new paving in the rear parking area. A total of $500,000 has recently been spent on long-term building improvements, which will minimize capital costs moving forward. HIGH DAILY TRAFFIC COUNTS ALONG 196TH STREET SW The subject is situated along 196th Street SW, which connects to Highway 99 due west of the property, and to the on-ramps for Interstate 5 directly to the east. Daily traffic counts exceed 38,000 vehicles per day, and 196th Street serves as a thoroughfare for commuters traveling to and from their residences. Originally, 196th Street served as Lynnwood’s only retail corridor, however, with the addition of the Alderwood Mall and the emergence of big box retail along Alderwood Mall Parkway, the city strategically connected the corridors via the underpass east of the site at Interstate 5. The interchange added to the exit has dramatically assisted traffic flow, while the widening of 196th Street will also lend itself to smoother traffic flow.