Broadway Live-Work Retail
For Sale
Contact for pricing
1815 Broadway, Everett, WA 98201
Mixed-use building with a high-visibility storefront and residential space above, offering 36' of Broadway frontage.
Property Size3,349 SF
Price / SF$246.34
Days on Market41
Property Features for 1815 Broadway
General Information
Standard status
Active
Size
3,349 SF
Total Parking Spaces
4
Property subtype
RETAIL
Additional Details
Frontage
36 ft
Building Details
Buildings
1
Stories
2
Listing Agency:
John L. Scott - Kent
(206) 851-7441
Listed By:
Antonio Lopez · License #30671
(206) 851-7441
Source:
Moodyscre
Added: Jul 2
Changed: Aug 11
Last Checked: Aug 11 at 3:53PM
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 John L. Scott - Kent
Investment Insights
Based on property information with market context.
This mixed-use property combines a high-visibility commercial storefront with residential space above, arranged as a two-story live-work setup. The offering includes 4 surface parking spaces and a tenant in place since 2010.
Located on Everett’s Broadway corridor, the property features 36' of frontage on Broadway. Public transit access is described as being right at the doorstep, supporting convenient access for customers and residents.
At approximately 3,349 square feet, the building provides a practical combination of street-level retail and space above for residential use.
Located on Everett’s Broadway corridor, the property features 36' of frontage on Broadway. Public transit access is described as being right at the doorstep, supporting convenient access for customers and residents.
At approximately 3,349 square feet, the building provides a practical combination of street-level retail and space above for residential use.
Key Highlights
- 3,349 SF mixed‑use building with a commercial storefront and residential space above
- 36' of Broadway frontage
- Two‑story property with 4 surface parking spaces
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
$56,032
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
6.79%
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%
$1,120,640
$1.1M
Cap Rate 7%
$800,457
$800.5K
Cap Rate 9%
$622,578
$622.6K
Market Conditions
NOI Build-Up for 3,349 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
$88.4K $26.40/SF
− Vacancy
−$13.7K −$4.09/SF
EGI
$74.7K $22.31/SF
− OpEx
−$18.7K −$5.58/SF
NOI
$56.0K $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%
$1,120,640
Cap Rate 7%
$800,457
Cap Rate 9%
$622,578
Alternative Uses
Best Use
Office B
$800.5K
$700.4K – $933.9K
NOI $56,032 @ 7.0% cap · market cap 6.79%
Second Best
Retail
$690.8K
$604.5K – $806.0K
NOI $48,358 @ 7.0% cap · market cap 5.86%
Theoretical Best
Office A
$1.11M
$970.0K – $1.29M
NOI $77,598 @ 7.0% cap · market cap 9.41%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,310
Businesses Nearby
Under-served
Demand for This Use
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?
Storefront property - Mixed-use building with a high-visibility storefront and residential space above, offering 36' of Broadway frontage.
Where is this storefront property located?
The property is located at 1815 Broadway Everett, WA.
What is the asking price?
The asking price for this property is $824,999.
What are key features of this property?
This property features: 3,349 SF mixed‑use building with a commercial storefront and residential space above; 36' of Broadway frontage; Two‑story property with 4 surface parking spaces
