Corner Restaurant
For Sale
Contact for pricing
4830 Evergreen Way, Everett, WA 98203
Located on a commercial corridor near QFC, Ace Hardware, and Harbor Freight.
Property Size1,333 SF
Price / SF$581.40
Days on Market246
Property Features for 4830 Evergreen Way
General Information
Standard status
Active
Size
1,333 SF
Total Parking Spaces
20
Property subtype
RETAIL
Building Details
Parking Ratio
15 per 1,000 SF
Listing Agency:
CBRE
(206) 292-1600
Listed By:
Dino Christophilis · License #24717
(206) 292-6152
Source:
Moodyscre
Added: Jan 1
Changed: Sep 2
Last Checked: Sep 4 at 5:53AM
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 CBRE
Investment Insights
Based on property information with market context.
This 1,333-square-foot conventional restaurant occupies a corner site along Evergreen Way in Everett, Washington. The property includes on-site parking with 20 stalls.
The location is positioned within a primary commercial corridor near QFC, Ace Hardware, and Harbor Freight. The address is 4830 Evergreen Way, Everett, WA 98203.
The location is positioned within a primary commercial corridor near QFC, Ace Hardware, and Harbor Freight. The address is 4830 Evergreen Way, Everett, WA 98203.
Key Highlights
- 1,333‑square‑foot conventional restaurant property
- Corner site along Evergreen Way
- 20 on‑site parking stalls
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
$21,883
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
2.82%
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%
$437,660
$437.7K
Cap Rate 7%
$312,614
$312.6K
Cap Rate 9%
$243,144
$243.1K
Market Conditions
NOI Build-Up for 1,333 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
$30.4K $22.80/SF
− Vacancy
−$1.2K −$0.91/SF
EGI
$29.2K $21.89/SF
− OpEx
−$7.3K −$5.47/SF
NOI
$21.9K $16.42/SF
Area
Everett, WA
Vacancy
4.00%
Lease Rate
$22.80 /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%
$437,660
Cap Rate 7%
$312,614
Cap Rate 9%
$243,144
Alternative Uses
Best Use
Specialty Retail
$312.6K
$273.5K – $364.7K
NOI $21,883 @ 7.0% cap · market cap 2.82%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$441.2K
$386.1K – $514.8K
NOI $30,886 @ 7.0% cap · market cap 3.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
846
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 98203, WA
37,491
Population
14,848
Households
2.5
Avg Household Size
39
Median Age
34%
College-Educated
91%
High-School Grad
11.8 sq mi
ZIP Area
3,177
Density / Sq Mi
$101,505
Median Household Income
$55,176
Median Earnings
$1,761
Median Rent
$575,300
Median Home Value
Market
Vacancy Rate% for Retail in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- King Buffet — 5313 Evergreen Wy, Everett, WA 98203
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Located on a commercial corridor near QFC, Ace Hardware, and Harbor Freight.
Where is this conventional restaurant located?
The property is located at 4830 Evergreen Way Everett, WA.
What is the asking price?
The asking price for this property is $775,000.
What are key features of this property?
This property features: 1,333‑square‑foot conventional restaurant property; Corner site along Evergreen Way; 20 on‑site parking stalls
