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    10910 Holly Dr Everett, WA 98204

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    For Lease
    $33,422

    Two industrial buildings with surplus yard, available immediately for lease.

    Property size:
    22,281 SF
    Lot size:
    22,281 SF

    Property Features for 10910 Holly Dr

    General Information

    Standard status
    Active
    Size
    22,281 SF

    Building Details

    Year built
    1996

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    Listing Contact
    Talor Okada
    Source: Corcoran

    Listing Agency: COLLIERS INTERNATIONAL WA, LLC Listing Agent: Talor Okada

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Secured Industrial Buildings with Yard

    Available for lease are two industrial buildings totaling approximately 22,281 square feet, with the potential for demising. Building A offers approximately 14,674 square feet, including approximately 11,701 square feet of warehouse space and approximately 2,973 square feet of office space. Building B provides approximately 7,607 square feet of pure warehouse space, with shared restrooms and a break area. The property is fully fenced and secured, featuring an approximately 11,690 square foot surplus yard area. Loading and unloading are facilitated by six grade-level loading doors and a dock-high loading platform. The buildings feature clear span, fully sprinklered space with power and air drops throughout. The clear height ranges from 22 to 26 feet, and the buildings are fully insulated. The property is zoned LI-1 (Light Industrial) under the jurisdiction of the City of Everett. It benefits from heavy 3-phase power service, including 600 amps at 480v and 400 amps at 240v. The high-image building offers convenient access to I-5, Hwy 99, and SR 525 and is available immediately.
    Location Intelligence

    Current Use by Public Records

    Goldfinch Bros., Inc. General Contractor

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Hair Salon Auto Repair Shop Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    Affordable Self Storage, Public Storage, Public Storage, SmartStop Self Storage, IN Self Storage - Everett

    Location Insight

    • Map
    • Local Demand
    City
    Everett
    County
    Snohomish
    State
    Washington
    Longitude
    -122.2637942
    Latitude
    47.8993321

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    FAQs

    What type of property is this?
    Warehouse - Two industrial buildings with surplus yard, available immediately for lease.
    Where is this warehouse located?
    The property is located at 10910 Holly Dr Everett, WA.
    What is the lease rate?
    The lease rate is $33,422.
    What are key features of this property?
    This property features: - ±22,281 SF total space with potential to demise, including warehouse and office space.; - Fully fenced and secured site with **±11,690 SF surplus yard area.**; - **Heavy 3-phase power service** (600 amps 480v / 400 amps 240v).
    (425) 492-5145
    Request Owner's contact information
    10910 Holly Dr Everett, WA 98204
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    Everett, WA 98204
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    10910 Holly Dr Everett, WA 98204
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    We can help!
    Listing Contact
    Talor Okada
    (425) 492-5145 (425) 453-4545
    Learn more
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