Freestanding Storefront
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For Sale
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13220 Hwy 99 S, Everett, WA 98204
Commercial building along Highway 99 with an existing cannabis dispensary occupant.
Property Size7,200 SF
Lot Size0.47 Acres
Price / SF$277.78
Days on Market5
Property Features for 13220 Hwy 99 S
General Information
Standard status
Active
Size
7,200 SF
Lot size
0.47 Acres
Property subtype
RETAIL
Site & Location
Highway Access
Yes
Road Access
Yes
Additional Details
Land Use
commercial
Building Details
Buildings
1
Listing Agency:
First Western Properties, Inc.
(425) 822-5522
Listed By:
Steve Erickson
(425) 822-5522
Source:
Moodyscre
Added: Aug 7
Changed: Aug 10
Last Checked: Aug 11 at 9:16AM
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 First Western Properties, Inc.
Investment Insights
Based on property information with market context.
The property includes a freestanding 7,200-square-foot commercial building on approximately 0.47 acres. The building is currently occupied by Kushmart Cannabis Dispensary, providing an established retail use within the existing structure.
Located at 13220 Hwy 99 S in Everett, Washington, the site fronts Highway 99. The offering includes both the land and building, and the property is available for sale as an existing retail asset or for repositioning to another commercial use.
Located at 13220 Hwy 99 S in Everett, Washington, the site fronts Highway 99. The offering includes both the land and building, and the property is available for sale as an existing retail asset or for repositioning to another commercial use.
Key Highlights
- 7,200± SF freestanding commercial building
- Approximately 0.47± acre site
- Located along Highway 99 in Everett, WA
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
$103,965
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
5.20%
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%
$2,079,300
$2.1M
Cap Rate 7%
$1,485,214
$1.5M
Cap Rate 9%
$1,155,167
$1.2M
Market Conditions
NOI Build-Up for 7,200 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
$155.5K $21.60/SF
− Vacancy
−$7.0K −$0.97/SF
EGI
$148.5K $20.63/SF
− OpEx
−$44.6K −$6.19/SF
NOI
$104.0K $14.44/SF
Area
Everett, WA
Vacancy
4.50%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
30.00%
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%
$2,079,300
Cap Rate 7%
$1,485,214
Cap Rate 9%
$1,155,167
Alternative Uses
Best Use
Retail
$1.49M
$1.30M – $1.73M
NOI $103,965 @ 7.0% cap · market cap 5.20%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.38M
$2.09M – $2.78M
NOI $166,828 @ 7.0% cap · market cap 8.34%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
451
Businesses Nearby
40k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 89%
Dining 11%
Dollar Tree
Shops & Services
26,554 visits/mo
0.3 miles
Shell
Shops & Services
5,938 visits/mo
0.2 miles
SUBWAY
Dining
3,550 visits/mo
0.4 miles
Extra Space Storage
Shops & Services
1,566 visits/mo
0.5 miles
Public Storage
Shops & Services
1,491 visits/mo
0.4 miles
Demographics for 98204, WA
44,810
Population
18,914
Households
2.4
Avg Household Size
34
Median Age
22%
College-Educated
87%
High-School Grad
7.2 sq mi
ZIP Area
6,224
Density / Sq Mi
$66,592
Median Household Income
$44,349
Median Earnings
$1,732
Median Rent
$386,300
Median Home Value
Market
Vacancy Rate% for Retail in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Storefront property - Commercial building along Highway 99 with an existing cannabis dispensary occupant.
Where is this storefront property located?
The property is located at 13220 Hwy 99 S Everett, WA.
What is the asking price?
The asking price for this property is $2,000,000.
What are key features of this property?
This property features: 7,200± SF freestanding commercial building; Approximately 0.47± acre site; Located along Highway 99 in Everett, WA
