Mixed-Use Investment in Historic
For Sale
$1,100,000
Pending
148 Woods St, Monroe, WA 98272
Fully rented commercial space with residential units near historic district.
Property Size5,659 SF
Days on Market588
Property Features for 148 Woods St
General Information
Standard status
Pending
Size
5,659 SF
Property subtype
Commercial
Building Details
Year Built
1950
Listing Agency:
REAL BROKER LLC
Listed By:
REBECCA LOCKE
Source:
Corcoran
Added: Mar 11, 2025
Changed: Oct 3
Last Checked: Oct 16 at 9:21AM
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 REAL BROKER LLC
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Investment Insights
Based on property information with market context.
This fully rented mixed-use property is located one block from Monroe’s historic district. The property features a professional office space and three spacious townhouse-style residential units. There is an opportunity to maximize income potential with an optional two-car garage rental. The property benefits from professional landscaping, a newer roof, gutters, and multiple upgrades. The property offers excellent accessibility to major freeways. The building has a total size of 5659 square feet. The property has a strong tenant history and is always rented.
Key Highlights
- Fully rented commercial space with professional office and three residential units.
- Prime location one block from Monroe’s historic district.
- Excellent accessibility to major freeways.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$100,794
Cap Rate
9.16%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,015,880
$2.0M
Cap Rate 7%
$1,439,914
$1.4M
Cap Rate 9%
$1,119,933
$1.1M
Market Conditions
NOI Build-Up for 5,659 SF
Gross rent
$154.8K $27.36/SF
− Vacancy
−$20.4K −$3.61/SF
EGI
$134.4K $23.75/SF
− OpEx
−$33.6K −$5.94/SF
NOI
$100.8K $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%
$2,015,880
Cap Rate 7%
$1,439,914
Cap Rate 9%
$1,119,933
Alternative Uses
Best Use
Office B
$1.44M
$1.26M – $1.68M
NOI $100,794 @ 7.0% cap · market cap 9.16%
Second Best
Apartment 5plus
$1.21M
$1.06M – $1.41M
NOI $84,643 @ 7.0% cap · market cap 7.69%
Theoretical Best
Office A
$1.58M
$1.38M – $1.84M
NOI $110,474 @ 7.0% cap · market cap 10.04%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,245
Businesses Nearby
Explore this area
Business Placement
Demographics for 98272, WA
31,127
Population
10,313
Households
3
Avg Household Size
38
Median Age
29%
College-Educated
92%
High-School Grad
106.3 sq mi
ZIP Area
293
Density / Sq Mi
$115,894
Median Household Income
$51,879
Median Earnings
$1,902
Median Rent
$638,300
Median Home Value
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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 - Fully rented commercial space with residential units near historic district.
Where is this mixed-use property located?
The property is located at 148 Woods St Monroe, WA.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: Fully rented commercial space with professional office and three residential units.; Prime location one block from Monroe’s historic district.; Excellent accessibility to major freeways.
