Stand-Alone Office
For Sale
Contact for pricing
2809 Grand Ave, Everett, WA 98201
Downtown Everett stand-alone office building with on-site and corner-lot parking for a total of 57 stalls.
Property Size18,152 SF
Price / SF$273.75
Days on Market31
Property Features for 2809 Grand Ave
General Information
Standard status
Active
Size
18,152 SF
Total Parking Spaces
57
Property subtype
OFFICE
Building Details
Buildings
1
Building Size
18,152 SF
Parking Ratio
3.14 per 1,000 SF
Listing Agency:
Ayers Commercial Group
(206) 600-9294
Listed By:
Jeff Ayers · License #105705
(206) 600-9294
Source:
Moodyscre
Added: Jul 10
Changed: Aug 8
Last Checked: Aug 9 at 1:22PM
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 Ayers Commercial Group
Investment Insights
Based on property information with market context.
Stand-alone office building totaling 18,152 SF, offered for sale. The property is described as having exceptional parking, with 13 on-site parking stalls and an additional 44 parking stalls in the parking lot at the corner of Grand Ave and California St, for a total of 57 parking stalls. The building’s parking ratio is noted as 3.14 per 1,000 parking.
Located in downtown Everett near the corner of Grand Ave and California St at 2809 Grand Ave, Everett, WA 98201. The configuration supports office tenants who benefit from convenient, nearby parking options.
The building’s practical advantage is the combination of on-site parking and additional shared/adjacent parking at the corner location, helping accommodate both daily commute and client visits.
Located in downtown Everett near the corner of Grand Ave and California St at 2809 Grand Ave, Everett, WA 98201. The configuration supports office tenants who benefit from convenient, nearby parking options.
The building’s practical advantage is the combination of on-site parking and additional shared/adjacent parking at the corner location, helping accommodate both daily commute and client visits.
Key Highlights
- 18,152 SF stand‑alone office building
- 13 on‑site parking stalls
- Additional 44 parking stalls in the corner parking lot at Grand Ave & California St
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
$303,701
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
6.11%
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%
$6,074,020
$6.1M
Cap Rate 7%
$4,338,586
$4.3M
Cap Rate 9%
$3,374,456
$3.4M
Market Conditions
NOI Build-Up for 18,152 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
$479.2K $26.40/SF
− Vacancy
−$74.3K −$4.09/SF
EGI
$404.9K $22.31/SF
− OpEx
−$101.2K −$5.58/SF
NOI
$303.7K $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%
$6,074,020
Cap Rate 7%
$4,338,586
Cap Rate 9%
$3,374,456
Alternative Uses
Best Use
Office B
$4.34M
$3.80M – $5.06M
NOI $303,701 @ 7.0% cap · market cap 6.11%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$6.01M
$5.26M – $7.01M
NOI $420,592 @ 7.0% cap · market cap 8.46%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
2,881
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
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Downtown Everett stand-alone office building with on-site and corner-lot parking for a total of 57 stalls.
Where is this office building located?
The property is located at 2809 Grand Ave Everett, WA.
What is the asking price?
The asking price for this property is $4,969,120.
What are key features of this property?
This property features: 18,152 SF stand‑alone office building; 13 on‑site parking stalls; Additional 44 parking stalls in the corner parking lot at Grand Ave & California St
