Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Double Lot Development Opportunity Title is generated by Realmo AI

    2231 Highland Avenue #15 & 16, Everett, WA 98201

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $475,000

    Double lot in thriving Everett, WA, with development potential.

    Added:
    Jun 5, 2025
    Days on Market:
    351
    Last Refresh:
    Mar 16 at 9:09 am

    Property Features for 2231 Highland Avenue #15 & 16

    General Information

    Standard status
    Active

    We can help!

    Listing Contact
    ROBIN PARKER

    Listing agent ROBIN PARKER

    Listing office HOMESMART ONE REALTY

    Listing date Jun 5, 2025

    Source Corcoran

    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 HOMESMART ONE REALTY

    HighLights

    • Large double lot with potential for development (DADUs or multifamily).
    • Located in Everett, a city known for being DADU/Multi‑Family friendly.
    • Corner lot with territorial views.
    • Potential for boundary line adjustment.
    • Ample parking (onsite and street) with alley access.
    • Easy access to southbound I‑5.

    Overview

    This double lot presents an opportunity for investors and developers in Everett, Washington. The property is a large corner lot with territorial views, offering potential for a boundary line adjustment. The site provides ample on-site and street parking, along with alley access. The property may be suitable for developing a multi-family complex, potentially up to six units. Located in a desirable neighborhood, the property offers convenient access to southbound I-5. Everett is described as a thriving city with an amazing waterfront and downtown area.
    Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Map

    City
    Everett
    County
    Snohomish
    State
    Washington
    Longitude
    -122.201
    Latitude
    47.9874

    Nearby Similar for Sale

    • $1,000,000
      2,905 SF

      Retail Opportunity on High-Visibility Corner

      2,905 SF retail building on a 13,504 SF lot.
      3723 Rucker Avenue, Everett, WA 98201
      View Details
    • $650,000
      1,829 SF

      Everett Retail/Medical Building on Broadway

      1,829 SF building suitable for retail, office, or medical use.
      1716 Broadway, Everett, WA 98201
      View Details
    • $2,200,000

      Everett NAPA Auto Parts Property

      Single-tenant NAPA Auto Parts property in Everett, WA for sale.
      9423 Evergreen Way, Everett, WA 98204
      View Details
    • $650,000
      1,829 SF

      Everett Retail Space on Broadway

      1,829 SF retail building on Broadway in Everett.
      1716 Broadway, Everett, WA 98201
      View Details
    • $2,200,000
      10,500 SF

      Everett NAPA Auto Parts Investment

      Single-tenant NAPA Auto Parts property in Everett, WA for sale.
      9423 Evergreen Way, Everett, WA 98204
      View Details
    • $475,000
      1,960 SF

      Heated Hangar with Bi-Fold Door

      1,960 SF heated hangar with secure access.
      3507 103rd Street SW #D10, Everett, WA 98204
      View Details
    • $2,395,000
      6,312 SF

      Restaurant Building on Broadway Avenue

      Restaurant building for sale on a 0.69-acre lot.
      2317 Broadway Ave, Everett, WA 98201
      View Details
    • $4,050,000
      15,724 SF

      Everett Industrial Investment Opportunity

      Single-tenant industrial property leased to Ferguson Enterprises in Everett, WA.
      1012 132nd Street Southwest, Everett, WA, 98204
      View Details
    • $17

      Grocery Anchored Retail Center

      Grocery-anchored retail center with high traffic and ample parking.
      5305 Evergreen Way, Everett, WA 98203
      View Details
    • $2,650,000
      8,958 SF

      Everett Industrial Facility with Yard

      Purpose-built industrial facility with open-air storage and covered shop bays.
      2810 34th Street, Everett, WA 98201
      View Details
    • $799,000
      12,197 SF

      Waterfront Development Site in Everett

      Development site near Everett waterfront, zoned UR4, up to 4 floors.
      2501 W Marine View Dr, Everett, WA
      View Details
    • $1,349,000
      2,923 SF

      Everett Commercial Property with Upside

      Two-parcel commercial property in high-traffic area with strong growth potential.
      6915 Evergreen Way, Everett, WA, 98203-5149
      View Details

    FAQs

    What type of property is this?
    Residential land & home lot - Double lot in thriving Everett, WA, with development potential.
    Where is this residential land & home lot located?
    The property is located at 2231 Highland Avenue #15 & 16 Everett, WA.
    What is the asking price?
    The asking price for this property is $475,000.
    What are key features of this property?
    This property features: Large double lot with potential for development (DADUs or multifamily).; Located in Everett, a city known for being DADU/Multi‑Family friendly.; Corner lot with territorial views.
    We can help!
    Listing Contact
    ROBIN PARKER
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    2231 Highland Avenue #15 & 16, Everett, WA 98201
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!