Mixed-Use Property Near
For Sale
$925,000
Pending
168 Pine Ave, Snohomish, WA 98290
Mixed-use property near shopping and dining with development potential.
Property Size2,208 SF
Days on Market533
Property Features for 168 Pine Ave
General Information
Standard status
Pending
Size
2,208 SF
Property subtype
Commercial
Building Details
Year Built
1951
Listing Agency:
SKYLINE PROPERTIES, INC.
Listed By:
ERIN CAMPBELL
(206) 434-0568
Source:
Corcoran
Added: May 16, 2025
Changed: Oct 25
Last Checked: Oct 28 at 9:00AM
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 SKYLINE PROPERTIES, INC.
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Investment Insights
Based on property information with market context.
This 0.24-acre mixed-use property is located one block from shopping and dining. The existing structure, a converted home, features office space with 3 offices on the main floor and 4 offices plus a bonus space downstairs. It is suitable for professional services or retail. A 572 sq ft garage, RV carport, covered patio/gazebo, and paved parking for 5+ vehicles are included. The property is surrounded by condos to the south and medical offices to the north. Preliminary drawings for an 8-unit condo project are available, and the sellers have begun the permitting process with the City of Snohomish. The current rent is discounted to $3200 due to relationship.
Key Highlights
- Mixed‑use zoning in a high‑demand location, one block from shopping and dining.
- Preliminary drawings and permitting process started for an 8‑unit condo project.
- Existing building converted to office space with 7 offices and bonus space.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$39,327
Cap Rate
4.25%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$786,540
$786.5K
Cap Rate 7%
$561,814
$561.8K
Cap Rate 9%
$436,967
$437.0K
Market Conditions
NOI Build-Up for 2,208 SF
Gross rent
$60.4K $27.36/SF
− Vacancy
−$8.0K −$3.61/SF
EGI
$52.4K $23.75/SF
− OpEx
−$13.1K −$5.94/SF
NOI
$39.3K $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%
$786,540
Cap Rate 7%
$561,814
Cap Rate 9%
$436,967
Alternative Uses
Best Use
Office B
$561.8K
$491.6K – $655.5K
NOI $39,327 @ 7.0% cap · market cap 4.25%
Second Best
Mixed Use
$355.6K
$311.1K – $414.8K
NOI $24,890 @ 7.0% cap · market cap 2.69%
Theoretical Best
Office A
$615.8K
$538.8K – $718.4K
NOI $43,104 @ 7.0% cap · market cap 4.66%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
963
Businesses Nearby
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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
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Market
Vacancy Rate% for Office in West region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Mixed-use property near shopping and dining with development potential.
Where is this mixed-use property located?
The property is located at 168 Pine Ave Snohomish, WA.
What is the asking price?
The asking price for this property is $925,000.
What are key features of this property?
This property features: Mixed‑use zoning in a high‑demand location, one block from shopping and dining.; Preliminary drawings and permitting process started for an 8‑unit condo project.; Existing building converted to office space with 7 offices and bonus space.
