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Additional details
Listed by:KW Everett • Aaron Byrne
$ 2,400,000
Est. payment /mo
Active
6325 Evergreen WAY Everett, WA 98203
0.27 Acres Lot
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
FLAGSHIP EVERETT 2044 REDEVELOPMENT | MU-7 (2-STORY) | 5.44% CAP. Unparalleled investment opportunity featuring a strategic 2-parcel assemblage in Everett's premier high-growth corridor. This combined footprint represents a premier "Covered Land Play," delivering immediate cash flow with a stable 5.44% In-Place Cap Rate. VALUE-ADD & STABILITY: With 16 existing units (Retail Storefronts + Apartments), the asset provides strong, steady income to offset carrying costs during the entitlement phase. Rents are currently significantly below market, providing a clear value-add opportunity to immediately increase NOI and yield while pursuing future development.Under utilized basement and storage rooms. THE ASSEMBLAGE ADVANTAGE: This 2-parcel footprint provides the critical depth and scale necessary for institutional-grade mid-rise construction. Unlock maximum unit yield and optimized parking configurations under new TOD mandates. Single-lot sites in this corridor cannot achieve this level of Floor Area Ratio (FAR) potential. EVERETT 2044 VISION: Positioned in the newly adopted MU-7 (Mixed Urban, 7-story) growth corridor. Located on a high-visibility arterial (30k+ VPD) steps from future Sound Transit Light Rail. Capitalize on Everett's blueprint for density in a submarket primed for transformation. Sold as-is. Buyer to verify all development yield.
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
"Three Trees" icon indicates a listing provided courtesy of NWMLS.
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