Specialty Mixed-Use
For Sale
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3202-3228 McDougall Ave, Everett, WA 98201
Specialty building zoned Mixed Urban and currently occupied by two tenants with 180-day termination provisions.
Property Size43,334 SF
Price / SF$160.38
Days on Market219
Property Features for 3202-3228 McDougall Ave
General Information
Standard status
Active
Size
43,334 SF
Property subtype
INDUSTRIAL
Zoning
MU
Additional Details
Cap Rate
5.55%
Highway Access
Yes
Building Details
Tenancy
Multi
Listing Agency:
Marcus & Millichap, Inc.
(206) 826-5787
Listed By:
Clayton Brown · License #WA:123258,ID:SP56979
Source:
Moodyscre
Added: Jan 13
Changed: Aug 10
Last Checked: Aug 20 at 6:25AM
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 Marcus & Millichap, Inc.
Investment Insights
Based on property information with market context.
3202–3228 McDougall Ave in Everett, Washington is offered as an owner-user or value-add investment with two major tenants in place. Each lease includes provisions allowing termination on 180 days’ notice, giving a future owner flexibility to maintain existing income, reposition the asset, or occupy the building as an owner-user. The offering is priced at approximately $165/SF, with a going-in cap rate of 5.55% and a true in-place cap rate of 6.30% beginning January 1, 2027. Current rents are approximately $9.72/SF versus estimated market rents of approximately $12–$14/SF.
The property is zoned Mixed Urban (MU), which allows a broad range of uses, including commercial, office, residential, and mixed-use development. It is strategically located along Everett’s primary north–south corridor with immediate access to Interstate 5, supporting visibility and regional connectivity. Washington State offers no personal income tax. The surrounding trade area is supported by a population exceeding 132,000 residents within five miles and average household incomes in excess of $102,000, providing an economic base for tenant demand.
The property is zoned Mixed Urban (MU), which allows a broad range of uses, including commercial, office, residential, and mixed-use development. It is strategically located along Everett’s primary north–south corridor with immediate access to Interstate 5, supporting visibility and regional connectivity. Washington State offers no personal income tax. The surrounding trade area is supported by a population exceeding 132,000 residents within five miles and average household incomes in excess of $102,000, providing an economic base for tenant demand.
Key Highlights
- Mixed Urban (MU) zoning in Everett, allowing a broad range of uses including commercial, office, residential, and mixed‑use development
- Two major tenants in place; leases allow termination on 180 days’ notice for flexibility to reposition or occupy
- Offered at $165/SF with a 5.55% going‑in cap rate and a 6.30% true in‑place cap rate beginning January 1, 2027
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
3,236
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Specialty property - Specialty building zoned Mixed Urban and currently occupied by two tenants with 180-day termination provisions.
Where is this specialty property located?
The property is located at 3202-3228 McDougall Ave Everett, WA.
What is the asking price?
The asking price for this property is $6,950,000.
What are key features of this property?
This property features: Mixed Urban (MU) zoning in Everett, allowing a broad range of uses including commercial, office, residential, and mixed‑use development; Two major tenants in place; leases allow termination on 180 days’ notice for flexibility to reposition or occupy; Offered at $165/SF with a 5.55% going‑in cap rate and a 6.30% true in‑place cap rate beginning January 1, 2027
