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CLS Bldg 4720 200th St SW 15,976 SF 79% Leased Office Building Lynnwood, WA 98036 $3,300,000 ($206.56/SF) 8.18% Cap Rate

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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
Office
Building Size
15,976 SF
Building Class
C
Year Built/Renovated
1980/2013
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

SPACE AVAILABILITY

  • SPACE
  • SIZE
  • SPACE USE
  • CONDITION
  • AVAILABLE
  • 1st Fl-Ste 105
  • 1,522 SF
  • Office
  • Full Build-Out
  • Now

Office space available for lease. Office is on the ground floor. Multiple interior office rooms (5), could be used as private offices or shared space. Suite was recently painted. Landlord will replace the flooring prior to new tenant moving in. The property is within walking distance from the Lynnwood link light rail station and quickly accessible off I-5, making it easily accessible for clients and employees. Contact Ruthanne Loar for further details, any questions, or to arrange a tour.

  • 2nd Fl-Ste 205
  • 1,873 SF
  • Office
  • Full Build-Out
  • Now

Office space immediately available for lease. Second floor accessible from parking lot via bridge connected to the building (no stairs). Multiple interior office rooms (6), could be used as private offices or shared space. Suite was recently painted. Landlord will replace the flooring prior to new tenant moving in. Property is walking distance from Lynnwood link light rail station and close to I-5, making it easily accessible for clients and employees. Contact Ruthanne Loar for further details.

Space Size Space Use Condition Available
1st Fl-Ste 105 1,522 SF Office Full Build-Out Now
2nd Fl-Ste 205 1,873 SF Office Full Build-Out Now

1st Fl-Ste 105

Size
1,522 SF
Space Use
Office
Condition
Full Build-Out
Available
Now

2nd Fl-Ste 205

Size
1,873 SF
Space Use
Office
Condition
Full Build-Out
Available
Now

1st Fl-Ste 105

Size 1,522 SF
Space Use Office
Condition Full Build-Out
Available Now

Office space available for lease. Office is on the ground floor. Multiple interior office rooms (5), could be used as private offices or shared space. Suite was recently painted. Landlord will replace the flooring prior to new tenant moving in. The property is within walking distance from the Lynnwood link light rail station and quickly accessible off I-5, making it easily accessible for clients and employees. Contact Ruthanne Loar for further details, any questions, or to arrange a tour.

2nd Fl-Ste 205

Size 1,873 SF
Space Use Office
Condition Full Build-Out
Available Now

Office space immediately available for lease. Second floor accessible from parking lot via bridge connected to the building (no stairs). Multiple interior office rooms (6), could be used as private offices or shared space. Suite was recently painted. Landlord will replace the flooring prior to new tenant moving in. Property is walking distance from Lynnwood link light rail station and close to I-5, making it easily accessible for clients and employees. Contact Ruthanne Loar for further details.

Walk Score®
Very Walkable (79)
Bike Score®
Very Bikeable (70)
What is a Walk Score®, Transit Score® & Bike Score®?
Walk Score® measures the walkability of any address.
Transit Score® measures access to public transit.
Bike Score® measures bikeability of a location.
What is a Walk Score®
, Transit Score® & Bike Score?
Walk Score® measures the walkability
of any address. Transit Score®
measures access to public transit. Bike Score®
measures bikeability of a location.®

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
003726-006-007-03
Land Assessment
$4,082,100
Improvements Assessment
$230,100
Total Assessment
$4,312,200
  • Listing ID: 38573335

  • Date on Market: 11/25/2025

  • Last Updated:

  • Address: 4720 200th St SW, Lynnwood, WA 98036

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