Operating Restaurant
For Sale
Contact for pricing
2317 Broadway Ave, Everett, WA 98201
A 6,312 SF restaurant building on 0.69 acres in MU zoning, with the business currently operating.
Property Size6,312 SF
Lot Size0.69 Acres
Price / SF$379.44
Days on Market131
Property Features for 2317 Broadway Ave
General Information
Standard status
Active
Size
6,312 SF
Lot size
0.69 Acres
Property subtype
RETAIL
Zoning
MU
Listing Agency:
First Western Properties, Inc.
(425) 250-3287
Listed By:
Kyle Nordby
(425) 250-3287
Source:
Moodyscre
Added: Apr 13
Changed: Aug 21
Last Checked: Aug 21 at 12:48PM
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.
Operating restaurant building available for sale in Everett, WA. The property includes a 6,312 SF restaurant building situated on 0.69 acres of land. Public remarks indicate the business is still operating, so do not disturb the tenant.
Zoned MU, the offering is best suited for buyers looking at a currently operating restaurant use. Call for details on the operation and property specifics.
Prospective buyers should plan for diligence with the listing team, given the business is in operation.
Zoned MU, the offering is best suited for buyers looking at a currently operating restaurant use. Call for details on the operation and property specifics.
Prospective buyers should plan for diligence with the listing team, given the business is in operation.
Key Highlights
- 6,312 SF restaurant building on 0.69 acres
- MU zoning
- Business is currently operating (do not disturb tenant)
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
$103,618
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
4.33%
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%
$2,072,360
$2.1M
Cap Rate 7%
$1,480,257
$1.5M
Cap Rate 9%
$1,151,311
$1.2M
Market Conditions
NOI Build-Up for 6,312 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
$143.9K $22.80/SF
− Vacancy
−$5.8K −$0.91/SF
EGI
$138.2K $21.89/SF
− OpEx
−$34.5K −$5.47/SF
NOI
$103.6K $16.42/SF
Area
Everett, WA
Vacancy
4.00%
Lease Rate
$22.80 /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%
$2,072,360
Cap Rate 7%
$1,480,257
Cap Rate 9%
$1,151,311
Alternative Uses
Best Use
Specialty Retail
$1.48M
$1.30M – $1.73M
NOI $103,618 @ 7.0% cap · market cap 4.33%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.09M
$1.83M – $2.44M
NOI $146,253 @ 7.0% cap · market cap 6.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,569
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 Retail in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Conventional restaurant - A 6,312 SF restaurant building on 0.69 acres in MU zoning, with the business currently operating.
Where is this conventional restaurant located?
The property is located at 2317 Broadway Ave Everett, WA.
What is the asking price?
The asking price for this property is $2,395,000.
What are key features of this property?
This property features: 6,312 SF restaurant building on 0.69 acres; MU zoning; Business is currently operating (do not disturb tenant)
