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Warehouse

Cedar Valley Road Industrial

20215 Cedar Valley Rd, Lynnwood, WA 98036

Listing Price: $4,195,000

Cap Rate
5.14%
Gross SF
29,996
Price/Gross SF
$139.85
Lot Size
1.54 acres
Year Built
1973
Rentable SF
26,500

Investment Overview

Marcus & Millichap is pleased to offer for sale 20215 & 20217 Cedar Valley Road, a set of two industrial buildings totaling 26,500 rentable square feet in Lynnwood, WA. Built in 1973, the property has been home to local manufacturing and distribution tenants benefiting from high ceilings, clear span warehouse space, and adequate parking on the 1.54 parcel. Between the two warehouses, there are five grade-level loading doors ranging from 10-feet to 14-feet in height. The property is currently fully occupied, with a 700 square feet of office space coming available for lease in Fall, 2022. The remaining space is occupied by light industrial users that have been long-term tenants in the property. The Cedar Valley Road Industrial buildings represent an opportunity for a new investor to take control of highly sought-after warehouse space in a supply-constrained market. With an upcoming lease negotiation of nearly at the end of 2022 with a tenant occupying nearly 16,000 square feet, there is an option to occupy the space for an owner-user or to achieve market rent with the existing or new tenant. The Property is well-positioned between Interstate-5 and Highway 99, allowing for quick and convenient access to two major distribution travel routes. The Property is located just 0.5miles away, or a 7-minute walk through the Scriber Creek Trail, from the future Lynnwood Link Expansion Station set to arrive in 2024.

Investment Highlights

  • Value-Add Industrial Property
  • Clear Span Warehouse Space Fit for Manufacturing and Light Industrial Users
  • Supply-Constrained Submarket with Low Vacancy
  • Upcoming Lease Negotiations with Current Rent Below Market
  • Moments Away from Lynnwood Link Expansion Station
  • Nearby Access to Interstate-5 and Highway 99

Exclusively Listed By

Warehouse

Cedar Valley Road Industrial

Listing Price: $4,195,000

Cap Rate
5.14%
Gross SF
29,996
Price/Gross SF
$139.85
Lot Size
1.54 acres
Year Built
1973
Rentable SF
26,500

Investment Highlights

  • Value-Add Industrial Property
  • Clear Span Warehouse Space Fit for Manufacturing and Light Industrial Users
  • Supply-Constrained Submarket with Low Vacancy
  • Upcoming Lease Negotiations with Current Rent Below Market
  • Moments Away from Lynnwood Link Expansion Station
  • Nearby Access to Interstate-5 and Highway 99

Investment Overview

Marcus & Millichap is pleased to offer for sale 20215 & 20217 Cedar Valley Road, a set of two industrial buildings totaling 26,500 rentable square feet in Lynnwood, WA. Built in 1973, the property has been home to local manufacturing and distribution tenants benefiting from high ceilings, clear span warehouse space, and adequate parking on the 1.54 parcel. Between the two warehouses, there are five grade-level loading doors ranging from 10-feet to 14-feet in height. The property is currently fully occupied, with a 700 square feet of office space coming available for lease in Fall, 2022. The remaining space is occupied by light industrial users that have been long-term tenants in the property. The Cedar Valley Road Industrial buildings represent an opportunity for a new investor to take control of highly sought-after warehouse space in a supply-constrained market. With an upcoming lease negotiation of nearly at the end of 2022 with a tenant occupying nearly 16,000 square feet, there is an option to occupy the space for an owner-user or to achieve market rent with the existing or new tenant. The Property is well-positioned between Interstate-5 and Highway 99, allowing for quick and convenient access to two major distribution travel routes. The Property is located just 0.5miles away, or a 7-minute walk through the Scriber Creek Trail, from the future Lynnwood Link Expansion Station set to arrive in 2024.

Exclusively Listed By

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