Manufacturing Building Near Boeing
For Sale
$5,950,000
13008 Beverly Park Rd, Mukilteo, WA 98275
Well-maintained manufacturing building near Boeing Everett and Paine Field.
Property Size25,100 SF
Price / SF$237.05
Days on Market571
Property Features for 13008 Beverly Park Rd
General Information
Standard status
Active
Size
25,100 SF
Building Details
Year Built
1996
Listing Agency:
COLDWELL BANKER COMMERCIAL DANFORTH
Listed By:
BOB FREDRICKSON, CCIM · License #8077
(206) 212-2216
Source:
Corcoran
Added: Feb 19, 2025
Changed: Mar 16
Last Checked: Sep 13 at 7:30AM
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 COLDWELL BANKER COMMERCIAL DANFORTH
Investment Insights
Based on property information with market context.
This well-maintained manufacturing building is located in close proximity to Boeing Everett and Paine Field within the Aerospace Corridor. The property benefits from good access to surrounding freeways and highways. It features adequate parking and street access. The building is in excellent condition. The two office levels are serviced by a passenger elevator. The property has a size of 25100 square feet.
Key Highlights
- Prime location near Boeing Everett, Paine Field, and the Aerospace Corridor.
- Excellent condition and well‑maintained building.
- Good access to surrounding freeways and highways.
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
$447,065
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
7.51%
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%
$8,941,300
$8.9M
Cap Rate 7%
$6,386,643
$6.4M
Cap Rate 9%
$4,967,389
$5.0M
Market Conditions
NOI Build-Up for 25,100 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
$686.7K $27.36/SF
− Vacancy
−$90.6K −$3.61/SF
EGI
$596.1K $23.75/SF
− OpEx
−$149.0K −$5.94/SF
NOI
$447.1K $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 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%
$8,941,300
Cap Rate 7%
$6,386,643
Cap Rate 9%
$4,967,389
Alternative Uses
Best Use
Office B
$6.39M
$5.59M – $7.45M
NOI $447,065 @ 7.0% cap · market cap 7.51%
Second Best
Industrial
$3.48M
$3.05M – $4.06M
NOI $243,784 @ 7.0% cap · market cap 4.10%
Theoretical Best
Office A
$7.00M
$6.12M – $8.17M
NOI $489,997 @ 7.0% cap · market cap 8.24%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
629
Businesses Nearby
Explore this area
Business Placement
Demographics for 98275, WA
21,642
Population
8,492
Households
2.5
Avg Household Size
44
Median Age
55%
College-Educated
98%
High-School Grad
7.3 sq mi
ZIP Area
2,965
Density / Sq Mi
$122,612
Median Household Income
$69,619
Median Earnings
$2,127
Median Rent
$830,000
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
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Frequently Asked Questions
What type of property is this?
Manufacturing property - Well-maintained manufacturing building near Boeing Everett and Paine Field.
Where is this manufacturing property located?
The property is located at 13008 Beverly Park Rd Mukilteo, WA.
What is the asking price?
The asking price for this property is $5,950,000.
What are key features of this property?
This property features: Prime location near Boeing Everett, Paine Field, and the Aerospace Corridor.; Excellent condition and well‑maintained building.; Good access to surrounding freeways and highways.
