Mixed-Use Property Near
For Sale
$925,000
Pending
168 Pine Ave, Snohomish, WA 98290
Mixed-use property near shopping and dining with development potential.
Property Size2,208 SF
Days on Market442
Property Features for 168 Pine Ave
General Information
Standard status
Pending
Size
2,208 SF
Property subtype
Commercial
Building Details
Year Built
1951
Listing Agency:
SKYLINE PROPERTIES, INC.
(206) 434-0568
Listed By:
ERIN CAMPBELL
Source:
Corcoran
Added: May 16, 2025
Changed: Jul 6
Last Checked: Jul 23 at 10:02AM
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 SKYLINE PROPERTIES, INC.
Investment Insights
Based on property information with market context.
This 0.24-acre mixed-use property is located one block from shopping and dining. The existing structure, a converted home, features office space with 3 offices on the main floor and 4 offices plus a bonus space downstairs. It is suitable for professional services or retail. A 572 sq ft garage, RV carport, covered patio/gazebo, and paved parking for 5+ vehicles are included. The property is surrounded by condos to the south and medical offices to the north. Preliminary drawings for an 8-unit condo project are available, and the sellers have begun the permitting process with the City of Snohomish. The current rent is discounted to $3200 due to relationship.
Key Highlights
- Mixed‑use zoning in a high‑demand location, one block from shopping and dining.
- Preliminary drawings and permitting process started for an 8‑unit condo project.
- Existing building converted to office space with 7 offices and bonus space.
Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $60.4k | $27.36 |
| − Vacancy | −$8.0k | −$3.61 |
| EGI | $52.4k | $23.75 |
| − OpEx | −$13.1k | −$5.94 |
| NOI | $39.3k | $17.81 |
2,208 SF · lease $27.36/SF/yr · vacancy 13.20% · expense 25.00%
Alternative Uses
Best Use
Office B
$561.8K
$491.6K – $655.5K
NOI $39,327 @ 7.0% cap · market cap 4.25%
Second Best
Mixed Use
$355.6K
$311.1K – $414.8K
NOI $24,890 @ 7.0% cap · market cap 2.69%
Theoretical Best
Office A
$615.8K
$538.8K – $718.4K
NOI $43,104 @ 7.0% cap · market cap 4.66%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
437
Businesses Nearby
Explore this area
Business Placement
Demographics for 98290, WA
37,535
Population
15,348
Households
2.4
Avg Household Size
42
Median Age
38%
College-Educated
95%
High-School Grad
117.5 sq mi
ZIP Area
319
Density / Sq Mi
$129,656
Median Household Income
$68,573
Median Earnings
$1,591
Median Rent
$717,600
Median Home Value
Market
Properties on Market for Mixed-use properties in Snohomish County
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 near shopping and dining with development potential.
Where is this mixed-use property located?
The property is located at 168 Pine Ave Snohomish, WA.
What is the asking price?
The asking price for this property is $925,000.
What are key features of this property?
This property features: Mixed‑use zoning in a high‑demand location, one block from shopping and dining.; Preliminary drawings and permitting process started for an 8‑unit condo project.; Existing building converted to office space with 7 offices and bonus space.
