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Toril White

1toril@torilsellshouses.com +1(253) 350-2638

Listed by:KW Everett • Aaron Byrne

$2,300,000

Est. payment - /mo

0.27 Acres Lot

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UPDATED:

Key Details

Property Type Commercial

Sub Type Commercial Industrial

Listing Status Active

Purchase Type For Sale

Subdivision Evergreen

MLS Listing ID 2475831

Style 61 - Comm Bldg Ovr 10K

Year Built 1968

Annual Tax Amount $11,541

Lot Size 0.270 Acres

Property Sub-Type Commercial Industrial

Property Description

PRICE ADJUSTMENT - EVERETT 2044 REDEVELOPMENT | MU-7 (7-STORY) | 6.00% CAP RATE A rare 2-parcel assemblage in Everett's highest-velocity growth corridor — offered at $2,30,000 ($2,090,000 main building + $210,000 development parcel). This combined footprint is a textbook Covered Land Play: bankable cash flow today, transformational upside tomorrow. CASH FLOW + VALUE-ADD: 16 existing units — retail storefronts and apartments — deliver a proven 6.00% in-place cap rate at $2,090,000 against the main parcel. Rents sit materially below market, creating an immediate path to compress that gap and drive NOI higher from day one. Underutilized basement and storage areas represent untapped income with minimal capital outlay. THE ASSEMBLAGE ADVANTAGE: Two parcels deliver the depth and scale single-lot sites simply cannot replicate. The development parcel alone represents significant value at $310,000 for a 3,000 SF lot in this corridor. Unlock maximum Floor Area Ratio, optimized parking configurations, and institutional-grade mid-rise construction potential under Everett's new TOD mandates. This footprint is purpose-built for what's coming. EVERETT 2044 VISION: Zoned MU-7 (Mixed Urban, 7-Story) in Everett's designated high-density growth corridor. Positioned on a high-visibility arterial with 30,000+ VPD, steps from the future Sound Transit Light Rail station. The city's blueprint for density is written — this parcel is inside it.

Location

State WA

County Snohomish

Area 740 - Everett/Mukilteo

Interior

Fireplace false

Exterior

Roof Type Built-Up

Building

Sewer Sewer Connected

Water Public

Others

Senior Community No

Acceptable Financing Cash, Conventional, See Remarks

Listing Terms Cash, Conventional, See Remarks

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Toril White

+1(253) 350-2638

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6325 Evergreen WAY Everett, WA 98203

Toril White

Key Details

Location

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Exterior

Building

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Nearby School & Business

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