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9423 Evergreen Way Everett, WA 98204

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For Sale
$2,200,000

Single-tenant NAPA Auto Parts property in Everett, WA for sale.

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Listing Contact
Kyle Sterling
Source: Nai-psp

Listing Agency: NAI PUGET SOUND PROPERTIES Listing Agent: Kyle Sterling

Displayed information is deemed reliable but is not guaranteed and should be independently verified.

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Overview

Everett NAPA Auto Parts Property

This single-tenant NAPA Auto Parts property is available for sale in Everett, WA. The corporate-backed NNN lease has approximately 2.5 years remaining on the base term, with four additional 5-year tenant options. The current lease rate is approximately 40-50% below market, presenting rental upside. The property is located in the Evergreen Way corridor, less than 1 mile from Everett Mall. Genuine Parts Company, ranked #175 on the Fortune 500 list in 2024, backs the lease. With over 6,000 locations across the United States and hundreds more across North America, Genuine Parts Co. is a large automotive distributor. The NNN lease structure provides minimal landlord responsibilities. The current lease rate is $11.52/sf NNN. The offering price is below the current assessed value of $2,306,000. The property is situated on one of Everett’s active commercial thoroughfares, benefiting from exposure to local and commuter traffic. A new PVC roof was installed this year, which comes with a 15-year warranty.
Location Intelligence

Current Use by Public Records

NAPA Auto Parts Auto Parts Store

Suggested Use

Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Auto Repair Shop

Zoning and permitted uses should be independently verified with local authorities.

Similar Places Nearby

Nissan Repair Parts, Dwayne Lane's Chrysler Dodge Jeep Ram Service Department, Nissan of Everett Service, Precision Tune Auto Care, Magic Nissan Of Everett

Location Insight

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City
Everett
County
Snohomish
State
Washington
Longitude
-122.2364359
Latitude
47.9121882

FAQs

What type of property is this?
Auto shop - Single-tenant NAPA Auto Parts property in Everett, WA for sale.
Where is this auto shop located?
The property is located at 9423 Evergreen Way Everett, WA.
What is the asking price?
The asking price for this property is $2,200,000.
What are key features of this property?
This property features: - Significant Rental Upside: Current lease rate is 40-50% below market, offering substantial long-term rental upside.; - Strong Corporate Tenant: Leased to Genuine Parts Company, a Fortune 500 company (#175 in 2024) with over 6,000 locations.; - Priced Below Assessed Value: Offering price is below the current assessed value of $2,306,000.
More about this property
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