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4720 200th St SW
Lynnwood, WA 98036
CLS Bldg · Office Property For Sale
INVESTMENT HIGHLIGHTS
- Owner-User or Value-Add Opportunity
- Significantly Below Market Rent (30+%)
- Future Development Potential
- Exceptionally Located Within Walking Distance of Lynnwood Light Rail and Minutes From I-5
- Excellent Demographics
- Essential Service Tenant Base
EXECUTIVE SUMMARY
Marcus & Millichap's Brown Retail Group is pleased to present the exclusive offering of the CLS Building, a 15,976 SF value-add or owner/user opportunity located in Lynnwood, WA, adjacent to the newly completed Lynnwood Light Rail Station and just minutes from I-5. The property houses tenants in a variety of industries, and offers direct access to dense residential communities and key employment centers. Currently 79% occupied with tenants paying below market rent, it provides investors or owner/users with immediate cash flow and a prime opportunity to implement a valueadd strategy in one of the region’s fastest-growing submarkets. The property has a City Center West zoning designation in the City Center District, which is designed to promote higher density housing, retail and restaurants, and professional uses. The property is well-positioned for eventual redevelopment at a maximum height of 140 feet.
PROPERTY FACTS
Sale Type
Investment or Owner User
Property Type
Building Size
15,976 SF
Building Class
C
Year Built
1980
Price
$3,300,000
Price Per SF
$206.56
Cap Rate
8.18%
NOI
$270,072
Percent Leased
79%
Tenancy
Multiple
Building Height
2 Stories
Typical Floor Size
7,988 SF
Slab To Slab
8’
Building FAR
0.37
Lot Size
0.99 AC
Opportunity Zone
Yes
Zoning
CC-W - City Center West
Parking
42 Spaces (2.63 Spaces per 1,000 SF Leased)
AMENITIES
- Signage
- Balcony
PROPERTY TAXES
| Parcel Number | 003726-006-007-03 | Improvements Assessment | $230,100 |
| Land Assessment | $4,082,100 | Total Assessment | $4,312,200 |
PROPERTY TAXES
Parcel Number
003726-006-007-03
Land Assessment
$4,082,100
Improvements Assessment
$230,100
Total Assessment
$4,312,200
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