Mixed-Use Property in Downtown
For Sale
Contact for pricing
2512 Colby Ave, Everett, WA
Mixed-use property with commercial units and apartments in downtown Everett.
Property Size11,876 SF
Lot Size0.24 Acres
Price / SF$185.25
Days on Market267
Property Features for 2512 Colby Ave
General Information
Standard status
Active
Size
11,876 SF
Lot size
0.24 Acres
Property subtype
RETAIL
Listing Agency:
John L. Scott Snohomish
(425) 225-4339
Listed By:
Ashley Scrupps
(425) 225-4339
Source:
Moodyscre
Added: Nov 6, 2025
Changed: Jul 6
Last Checked: Jul 21 at 6:41AM
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 Snohomish
Investment Insights
Based on property information with market context.
This mixed-use property is located in downtown Everett and is zoned MU7. The street level features two commercial units, one occupied by Kate’s Greek & American (sale of the business included) and the other by a long-term dental office tenant. Upstairs, there are two apartments, each 1,562 square feet, with long-term tenants. One apartment has two bedrooms and one bathroom, while the other has two bedrooms and two bathrooms. The apartments include private rooftop decks with Possession Sound views and a shared space for bike storage. An elevator provides access to the apartments from the street level and basement. The 3,200 square foot basement includes six covered parking stalls (four used by apartment tenants), storage, and coin-operated laundry for the apartments. There are 22 parking spaces outside, most with leases for added income, plus street parking.
Key Highlights
- Prime mixed‑use MU7‑zoned property in downtown Everett offering significant development potential.
- Two street‑level commercial units, including an established restaurant business (Kate’s Greek & American) included in the sale, and a long‑term dental office tenant.
- Enjoy Possession Sound views from the two spacious apartments with long‑term tenants and private rooftop decks.
Financial Insights For Apartment 5plus
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 | $342.0k | $28.80 |
| − Vacancy | −$22.2k | −$1.87 |
| EGI | $319.8k | $26.93 |
| − OpEx | −$143.9k | −$12.12 |
| NOI | $175.9k | $14.81 |
11,876 SF · lease $28.80/SF/yr · vacancy 6.50% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$2.51M
$2.20M – $2.93M
NOI $175,888 @ 7.0% cap · market cap 7.99%
Second Best
Retail
$2.45M
$2.14M – $2.86M
NOI $171,485 @ 7.0% cap · market cap 7.79%
Theoretical Best
Office A
$3.93M
$3.44M – $4.59M
NOI $275,174 @ 7.0% cap · market cap 12.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,945
Businesses Nearby
Explore this area
Business Placement
Market
Properties on Market for Mixed-use properties in Snohomish County
Vacancy Rate% for Multifamily 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 with commercial units and apartments in downtown Everett.
Where is this mixed-use property located?
The property is located at 2512 Colby Ave Everett, WA.
What is the asking price?
The asking price for this property is $2,200,000.
What are key features of this property?
This property features: Prime mixed‑use MU7‑zoned property in downtown Everett offering significant development potential.; Two street‑level commercial units, including an established restaurant business (Kate’s Greek & American) included in the sale, and a long‑term dental office tenant.; Enjoy Possession Sound views from the two spacious apartments with long‑term tenants and private rooftop decks.
