3325 Wetmore Ave, Everett, WA 98201

Building Details

Buildings 1 More

Building Size 1,900 SF More

Tenancy Single More

Owner Occupied Yes More

Listing Agency: eXp Realty w***@exprealty.net Show Phone

Listed By: Aaron Yoon Show Phone

Source: Exprealty

Added: Sep 21 Changed: Nov 12 Last Checked: Nov 12 at 8:21AM

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Review the available facts, identify missing information and prepare questions for the agent.

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Investment Insights

Based on property information with market context.

This approximately 1,900-square-foot office building is currently occupied by the owner and used as a law office. The property has three covered parking spaces, and possession is available at closing. Its 6,098-square-foot lot is zoned UR7, which allows office, commercial, and multifamily residential uses, with entitlements up to seven stories.

In downtown Everett, the property is within walking distance of Broadway and Hewitt Avenue. The existing office use can continue, or the site can be considered for another use permitted under its zoning.

Key Highlights

• Approximately 1,900 square feet of office space
• 6,098‑square‑foot lot with UR7 zoning
• Entitlements allow development up to 7 stories

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$31,789

Cap Rate

5.30%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$635,780 $635.8K

Cap Rate 7%

$454,129 $454.1K

Cap Rate 9%

$353,211 $353.2K

Is this asking price fair?

Market Conditions

NOI Build-Up for 1,900 SF

Gross rent

$50.2K $26.40/SF

− Vacancy

−$7.8K −$4.09/SF

EGI

$42.4K $22.31/SF

− OpEx

−$10.6K −$5.58/SF

NOI

$31.8K $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 Rate 5%

$635,780

Cap Rate 7%

$454,129

Cap Rate 9%

$353,211

Alternative Uses

Best Use

Office B

$454.1K

$397.4K – $529.8K (±1% cap)

NOI $31,789 @ 7.0% cap · market cap 5.30%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$628.9K

$550.3K – $733.7K (±1% cap)

NOI $44,024 @ 7.0% cap · market cap 7.34%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

The Washington Law Team Law Firm

Suggested Use

Top Pick Pet Grooming Service Tanning Salon Catering Service Computer & Electronic Repair Daycare Center Clothing & Fashion Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Single-tenant

Tenancy

Location Intelligence

Trade Area within ½ mile

3,754

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

Average Price Trend$/SF for Office buildings in Snohomish County, WA

$376 Jul

$308 Aug

$327 Sep

$326 Oct

Properties on Market for Office buildings in Snohomish County

Jul

Aug

Sep

Oct

Vacancy Rate% for Office in West region

11% 2019

14.1% 2020

15.5% 2021

17.2% 2022

19.9% 2023

21% 2024

20.8% 2025

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Frequently Asked Questions

What type of property is this?

Office building - UR7 zoning allows office, commercial, and multifamily residential uses, with development entitlements up to seven stories.

Where is this office building located?

The property is located at 3325 Wetmore Ave Everett, WA.

What is the asking price?

The asking price for this property is $600,000.

What are key features of this property?

This property features: Approximately 1,900 square feet of office space; 6,098‑square‑foot lot with UR7 zoning; Entitlements allow development up to 7 stories