1232 164th St SW
Lynnwood WA 98087
Raising Cane's Ground Lease - Lynnwood
1232 164th St SW Lynnwood WA 98087
Listing #: 708923 | Status: Available | Last Modified: 4/30/2026 |
For Sale
- Phone:(206) 693-3352
- Email:seantufts@northmarq.com
- Office Name:Northmarq Commercial, LLC
- Office Phone:(206) 693-2239
- Office Website:
- Agent Phone:(503) 998-6572
- Agent Email:kadatto@northmarq.com
- Agent Phone:(206) 693-3329
- Agent Email:jdugoni@northmarq.com
- Call Listing AgentNo
- Use DiscretionNo
- Listing Price$ 4,890,000.0
- $/SF$ 1,721.2
- Listing StatusAvailable
- Days on Market72
- Asset ClassRetail
- Terms
- Investment Type
- Min Total SF0
- Max Total SF0
- Lease Rate Low$ 00.0
- Lease Rate High$ 00.0
- Heat Source
- Total Units
- Water
- Electricity
- Storm Sewer
- SignageSignage on Building and Freestanding
- Anchor
- Crane Count
- Crane Tonnage0
- Clearance Height Min
- Clearance Height Max
- Bay Depth
- Second Road Front
- Grade Level Door Count
- Tennant Improvement Allowance
- Building StatusUnder Construction
- # of Buildings0
- # of Floors1
- # of Units
- # of Elevators
- Clearance Height Min
- Clearance Height Max
- Bay Depth
- Total Building SF2841
- Net Rentable Area2841
- Total Office SF
- Largest Contiguous SF
- Lot SF35719
- Acres0.82
- Property TypeRetail
- Office Type
- Building ClassA
- CountySnohomish
- Vicinity
- Location Description
- Second Address
- Cross Street
- Market AreaLynnwood
- Tax ID #00373700600603
- Additional Parcels00373700600601
- ZoningUC
- # Covered Spaces0
- # Uncovered Spaces30
- Total Parking Spots30
- Parking Ratio10.56
- Year Built2026
- Year Renovated
- Completion Date
- Roof Type
- Construction Type
Raising Cane's Ground Lease - Lynnwood
• Only Raising Cane's listed for sale in Washington (as of August 2025); 900+ locations nationwide • 15-year absolute NNN corporate ground lease, 10% rental bumps every 5 years, four 5-year options at 10% increases • Q2 2026 delivery — brand-new construction with dual-lane drive-thru and 10.5 spaces per 1,000 SF • Lighted hard corner on 164th St SW (50,000+ VPD), 1,000 feet from the I-5 interchange (180,000+ VPD) • Adjacent to a Walmart with 2.3M annual visits; co-tenancy includes Fred Meyer, Starbucks, Panda Express, Five Guys • 380,000+ residents within 5 miles; $149,000 average household income • 2,000+ multifamily units delivered within 2 miles since 2021, plus a 20-unit townhome project approved on the adjacent parcel • Raising Cane's posts the 2nd-highest AUV of any QSR brand in the
