Broadway Mixed-Use Property For
For Sale
$560,000
3614 Broadway, Everett, WA 98201
Mixed-use property with office, residence, and high-visibility location.
Property Size2,477 SF
Price / SF$226.08
Days on Market531
Property Features for 3614 Broadway
General Information
Standard status
Active
Size
2,477 SF
Building Details
Year Built
1962
Listing Agency:
CHAMPIONS REAL ESTATE SERVICES, INC.
Listed By:
SCOTT MCEWEN
Source:
Corcoran
Added: Mar 20, 2025
Changed: Mar 16
Last Checked: Mar 16 at 9:09AM
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 CHAMPIONS REAL ESTATE SERVICES, INC.
Investment Insights
Based on property information with market context.
This mixed-use property features 50 feet of street frontage on Broadway, benefiting from high traffic volume of over 29,600 cars passing by daily. Suite A is a 960 square foot office space comprising four rooms, an entry/reception area, and a half bathroom, with a newer roof and flooring. Suite B is a historic detached 1.5-story single-family residence with a basement, featuring three bedrooms and two bathrooms. The residential unit also includes a detached two-car garage and driveway access from the alley. Recent upgrades include newer interior paint, carpet, and LVP flooring. Situated on a 6098 square foot lot, the property is zoned Broadway Mixed Use, offering significant potential due to its visibility from Broadway and alley access.
Key Highlights
- High traffic location: 50 feet of frontage on Broadway with over 29,600 cars passing daily.
- Broadway Mixed Use zoning offering versatile usage possibilities.
- Two income‑generating units: a 960 sq ft office (Suite A) and a 3 BR, 2 BA single‑family residence (Suite B).
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$41,443
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.40%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$828,860
$828.9K
Cap Rate 7%
$592,043
$592.0K
Cap Rate 9%
$460,478
$460.5K
Market Conditions
NOI Build-Up for 2,477 SF
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.
Gross rent
$65.4K $26.40/SF
− Vacancy
−$10.1K −$4.09/SF
EGI
$55.3K $22.31/SF
− OpEx
−$13.8K −$5.58/SF
NOI
$41.4K $16.73/SF
Area
Everett, WA
Vacancy
15.50%
Lease Rate
$26.40 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$828,860
Cap Rate 7%
$592,043
Cap Rate 9%
$460,478
Alternative Uses
Best Use
Office B
$592.0K
$518.0K – $690.7K
NOI $41,443 @ 7.0% cap · market cap 7.40%
Second Best
Apartment 5plus
$524.1K
$458.6K – $611.4K
NOI $36,685 @ 7.0% cap · market cap 6.55%
Theoretical Best
Office A
$819.9K
$717.4K – $956.6K
NOI $57,393 @ 7.0% cap · market cap 10.25%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,458
Businesses Nearby
Explore this area
Business Placement
Demographics for 98201, WA
30,421
Population
15,196
Households
2
Avg Household Size
39
Median Age
29%
College-Educated
91%
High-School Grad
18.8 sq mi
ZIP Area
1,618
Density / Sq Mi
$73,822
Median Household Income
$48,830
Median Earnings
$1,443
Median Rent
$476,900
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Mixed-use property with office, residence, and high-visibility location.
Where is this mixed-use property located?
The property is located at 3614 Broadway Everett, WA.
What is the asking price?
The asking price for this property is $560,000.
What are key features of this property?
This property features: High traffic location: **50 feet of frontage on Broadway with over 29,600 cars passing daily.**; Broadway Mixed Use zoning offering versatile usage possibilities.; Two income‑generating units: a 960 sq ft office (Suite A) and a 3 BR, 2 BA single‑family residence (Suite B).
