Highway 2 Roadside Retail
36916 US-2, Sultan, WA 98294
High-visibility location with ample parking and outside storage.
Type:Industrial, Retail
Property size:
2,087 SFPrice / SF:
$258/SF- Added:
- Oct 22, 2024
- Days on Market:
- 578
- Last Refresh:
- Mar 17 at 1:13 pm
Property Features for 36916 US-2
General Information
- Standard status
- Active
- Size
- 2,087 SF
- Property subtype
- Industrial, Retail
Listing agent Ben Davidson License #23026809
Listing office Neil Walter Company
Listing date Oct 22, 2024
Source Crexi
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 Neil Walter Company
HighLights
- High visibility roadside location on Highway 2 corridor with over 14,000 vehicles per day, doubling seasonally.
- Ample parking and yard space with outside storage and existing monument signage.
- Located in unincorporated Snohomish County, offering a friendly business environment and lower sales/use taxes.
- Suitable for sales or service providers, outfitter's office, or recreational guiding services.
- Potential for added income through roadside food services or leasing parking area to a drive‑through convenience stand.
- Perfect for seasonal use due to surge traffic in winter and summer.
Overview
This property features a high-visibility roadside location with ample parking and yard space, as well as outside storage and existing monument signage. The location is suitable for sales or service providers catering to the Highway 2 corridor. It could also serve as an outfitter’s office and staging area for recreational guiding services or other seasonal uses. The property experiences over 14,000 vehicles per day, with seasonal surge traffic potentially doubling during peak seasons in winter and summer. Located in unincorporated Snohomish County, it offers a business-friendly environment and lower-than-average sales and use taxes. The property has added income potential by converting one of the structures to roadside food services or leasing a portion of the parking area to a drive-through convenience stand. The property size is 2087 square feet.
Financial Insights
Value Estimation Calculated for Specialty Retail
Conservative
$360.9K
NOI $32,482 @ 9.00% cap · cautious / downside scenario
Moderate
$464.0K
NOI $32,482 @ 7.00% cap · market / base-case scenario
Aggressive
$649.6K
NOI $32,482 @ 5.00% cap · optimistic / upside scenario
NOI & Cap Rate Calculator
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.
Calculated for Specialty Retail
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $45.8k | $21.96 |
| − Vacancy | −$2.5k | −$1.21 |
| EGI | $43.3k | $20.75 |
| − OpEx | −$10.8k | −$5.19 |
| NOI | $32.5k | $15.56 |
2,087 SF · lease $21.96/SF/yr · vacancy 5.50% · expense 25.00%
Alternative Use Scenarios
Best Use
Specialty Retail
$464.0K
$406.0K – $541.4K
NOI $32,482 @ 7.0% cap · market cap 6.02%
Second Best
Retail
$420.1K
$367.6K – $490.2K
NOI $29,410 @ 7.0% cap · market cap 5.45%
Theoretical Best
Office A
$582.0K
$509.3K – $679.0K
NOI $40,742 @ 7.0% cap · market cap 7.54%
Zoning and permitted uses should be independently verified with local authorities.
Location Intelligence
Current Use by Public Records
Retail space
Map
- City
- Sultan
- County
- Snohomish
- State
- Washington
- Longitude
- -121.587
- Latitude
- 47.8545
Nearby Similar for Sale
FAQs
What type of property is this?
Retail space - High-visibility location with ample parking and outside storage.
Where is this retail space located?
The property is located at 36916 US-2 Sultan, WA.
What is the asking price?
The asking price for this property is $540,000.
What are key features of this property?
This property features: High visibility roadside location on Highway 2 corridor with over 14,000 vehicles per day, doubling seasonally.; Ample parking and yard space with outside storage and existing monument signage.; Located in unincorporated Snohomish County, offering a friendly business environment and lower sales/use taxes.
