Historic Building in
1024 1st St, Snohomish, WA 98290
For Sale
$5,800,000
Pending
Historic mixed-use building with retail and office suites for sale.
Property Size19,502 SF
Days on Market1301
Property Features for 1024 1st St
General Information
Standard status
Size
Property subtype
Building Details
Year Built
Listing Agency:
WORKMAN REAL ESTATE SERVICES
Listed By:
LAURA HUNTINGTON
(425) 754-4518
Source:
Corcoran
Added: Apr 18, 2023
Changed: Aug 8
Last Checked: Aug 8 at 4:33AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of WORKMAN REAL ESTATE SERVICES
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
The Historic Marks Building presents an opportunity for either an owner-user or an investment. The building is currently 100% occupied. Architectural features include original brick, stone, and glass elements on the exterior, which are also integrated into the interior retail and office suites. The upper floors offer views of the Snohomish River Valley, Cascade Mountains, and the Historic Business District. The building incorporates original doors, windows, and high ceilings, complemented by original wood floors. Modern updates include plumbing, electrical, and HVAC systems, along with high-speed internet access and an elevator that services the main and upper floors. The property has a size of 19502 square feet and is located in Snohomish, WA.
Key Highlights
- 100% Occupied: Ideal for investors seeking immediate income.
- Historic Building: Original brick, stone, glass, doors, windows, and wood floors provide unique character.
- Updated Systems: Modern plumbing, electrical, HVAC, and high‑speed internet ensure comfort and efficiency.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$347,357
Cap Rate
5.99%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$6,947,140
$6.9M
Cap Rate 7%
$4,962,243
$5.0M
Cap Rate 9%
$3,859,522
$3.9M
Market Conditions
NOI Build-Up for 19,502 SF
Gross rent
$533.6K $27.36/SF
− Vacancy
−$70.4K −$3.61/SF
EGI
$463.1K $23.75/SF
− OpEx
−$115.8K −$5.94/SF
NOI
$347.4K $17.81/SF
Area
Snohomish County, WA
Vacancy
13.20%
Lease Rate
$27.36 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$6,947,140
Cap Rate 7%
$4,962,243
Cap Rate 9%
$3,859,522
Alternative Uses
Best Use
Office B
$4.96M
$4.34M – $5.79M
NOI $347,357 @ 7.0% cap · market cap 5.99%
Second Best
Retail
$3.93M
$3.44M – $4.58M
NOI $274,819 @ 7.0% cap · market cap 4.74%
Theoretical Best
Office A
$5.44M
$4.76M – $6.35M
NOI $380,714 @ 7.0% cap · market cap 6.56%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,164
Businesses Nearby
Explore this area
Business Placement
Demographics for 98290, WA
37,535
Population
15,348
Households
2.4
Avg Household Size
42
Median Age
38%
College-Educated
95%
High-School Grad
117.5 sq mi
ZIP Area
319
Density / Sq Mi
$129,656
Median Household Income
$68,573
Median Earnings
$1,591
Median Rent
$717,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Average Price Trend$/SF for Office buildings in Snohomish County, WA
Properties on Market for Office buildings in Snohomish County
Vacancy Rate% for Office in West region
Frequently Asked Questions
What type of property is this?
Office building - Historic mixed-use building with retail and office suites for sale.
Where is this office building located?
The property is located at 1024 1st St Snohomish, WA.
What is the asking price?
The asking price for this property is $5,800,000.
What are key features of this property?
This property features: 100% Occupied: Ideal for investors seeking immediate income.; Historic Building: Original brick, stone, glass, doors, windows, and wood floors provide unique character.; Updated Systems: Modern plumbing, electrical, HVAC, and high‑speed internet ensure comfort and efficiency.
