Rare Flex Building
2815 Baker Ave Everett Everett, WA 98201
2815 Baker Ave Everett, Everett, WA, 98201
$4,800,000
For Sale
$4,800,000
Mixed-use building with office, retail, and warehouse space for sale.
Property Size45,000 SF
Price / SF$106.67
Days on Market971
Property Features for 2815 Baker Ave Everett
General Information
- Standard status
- Active
- Size
- 45,000 SF
- Property subtype
- Commercial
Building Details
- Year Built
- 1905
Listing Agency
FIRST WESTERN PROPERTIES, INC.
Listed by
TEJ ASHER
Source
Corcoran
Added: Nov 20, 2023 Checked: Jul 17 at 2:36 am
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 FIRST WESTERN PROPERTIES, INC.
Investment Insights
Based on property information with market context.
The Baker Building presents a rare opportunity for an owner/user, featuring a mix of office, retail, and warehouse spaces currently housing multiple tenants. The property has undergone several recent capital improvements. It is strategically located near main arterial roads and is situated within an Opportunity Zone. The sale includes a recently improved parking lot located to the west of the building. The property offers flexibility for various business operations.
Key Highlights
- Rare flex property offering Owner/User opportunity.
- Mix of office, retail, and warehouse space.
- Located within an Opportunity Zone.
Local Financial Insights For Industrial
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $642.6k | $14.28 |
| − Vacancy | −$50.1k | −$1.11 |
| EGI | $592.5k | $13.17 |
| − OpEx | −$177.7k | −$3.95 |
| NOI | $414.7k | $9.22 |
45,000 SF · lease $14.28/SF/yr · vacancy 7.80% · expense 30.00%
Alternative Uses
Best Use
Office B
$10.76M
$9.41M – $12.55M
NOI $752,895 @ 7.0% cap · market cap 15.69%
Second Best
Mixed Use
$8.87M
$7.76M – $10.35M
NOI $621,000 @ 7.0% cap · market cap 12.94%
Theoretical Best
Office A
$14.90M
$13.03M – $17.38M
NOI $1,042,675 @ 7.0% cap · market cap 21.72%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
The Pelham Group NW
Real Estate Agency
Cierra Candles - Candle ...
Home Decor Store
Kendall Lauren Photography
Photography Service
Lindsey Lee Photography
(Bike/Boat/Book/etc) Store
Similar For Sale Nearby
FAQs
What type of property is this?
Mixed-use property - Mixed-use building with office, retail, and warehouse space for sale.
Where is this mixed-use property located?
The property is located at 2815 Baker Ave Everett Everett, WA.
What is the asking price?
The asking price for this property is $4,800,000.
What are key features of this property?
This property features: Rare flex property offering Owner/User opportunity.; Mix of office, retail, and warehouse space.; Located within an Opportunity Zone.
