Leased Office
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For Sale
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2221 California St, Everett, WA 98201
Pye-Barker Fire & Safety, LLC uses the property for its Everett branch.
Property Size9,017 SF
Lot Size0.25 Acres
Price / SF$277.25
Days on Market4
Property Features for 2221 California St
General Information
Standard status
Active
Size
9,017 SF
Lot size
0.25 Acres
Property subtype
OFFICE
Occupancy
100%
Building Details
Buildings
1
Building Size
9,017 SF
Tenancy
Single
Listing Agency:
Newmark
(206) 388-3000
Listed By:
Levi Bundrant
(425) 409-7405
Source:
Moodyscre
Added: Oct 19
Changed: Oct 21
Last Checked: Oct 21 at 2:08AM
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 Newmark
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 9,017-square-foot office building sits on a 0.25-acre parcel in downtown Everett. Pye-Barker Fire & Safety, LLC operates its Everett branch from the property, which is fully leased through November 2029.
The lease is structured on a net basis and includes fixed annual escalations of 3.0%.
The lease is structured on a net basis and includes fixed annual escalations of 3.0%.
Key Highlights
- 9,017‑square‑foot office building on 0.25 acres
- Fully leased to Pye‑Barker Fire & Safety, LLC through November 2029
- Tenant operates its Everett branch at the property
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$150,863
Cap Rate
6.03%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,017,260
$3.0M
Cap Rate 7%
$2,155,186
$2.2M
Cap Rate 9%
$1,676,256
$1.7M
Market Conditions
NOI Build-Up for 9,017 SF
Gross rent
$238.0K $26.40/SF
− Vacancy
−$36.9K −$4.09/SF
EGI
$201.2K $22.31/SF
− OpEx
−$50.3K −$5.58/SF
NOI
$150.9K $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 Rate 5%
$3,017,260
Cap Rate 7%
$2,155,186
Cap Rate 9%
$1,676,256
Alternative Uses
Best Use
Office B
$2.16M
$1.89M – $2.51M
NOI $150,863 @ 7.0% cap · market cap 6.03%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.98M
$2.61M – $3.48M
NOI $208,929 @ 7.0% cap · market cap 8.36%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
100%
Occupancy
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,920
Businesses Nearby
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in West region
Frequently Asked Questions
What type of property is this?
Office building - Pye-Barker Fire & Safety, LLC uses the property for its Everett branch.
Where is this office building located?
The property is located at 2221 California St Everett, WA.
What is the asking price?
The asking price for this property is $2,500,000.
What are key features of this property?
This property features: 9,017‑square‑foot office building on 0.25 acres; Fully leased to Pye‑Barker Fire & Safety, LLC through November 2029; Tenant operates its Everett branch at the property
