Marysville Flex Space For
5625 48th Dr NE, Marysville, WA 98270
For Sale
Contact for pricing
23,270 SF flex space with I-5 access.
Property Size23,270 SF
Price / SF$152.56
Days on Market965
Property Features for 5625 48th Dr NE
General Information
Standard status
Size
Property subtype
Zoning
Building Details
Year Built
Listing Agency:
Colliers - Bellevue, Washington
Listed By:
Rich Sander · License #129053
(360) 981-2543
Source:
Crexi
Added: Mar 19, 2024
Changed: Aug 21
Last Checked: Aug 14 at 7:20AM
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 Colliers - Bellevue, Washington
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Investment Insights
Based on property information with market context.
This +/- 23,270 SF building includes a 20,000 SF footprint with an additional 3,000 SF mezzanine area spread between the suites. The building, constructed in 1991, features metal construction and clear span warehouse space without columns. It offers 18’-20’ clear height and 3-phase power service. Immediate access to I-5 is available. The property includes ample parking and an additional ~7,500 SF fenced yard on the east side. Currently configured as a 4-suite building, the property includes Unit A, a vacant +/- 7,008 SF space with 1,502 SF of office space across two floors, 4,498 SF of warehouse space, and a 1,008 SF mezzanine storage area, featuring 1 drive-in door and 1 dock-high loading door. Unit B is a +/- 2,576 SF leased space with 572 SF of office space, 1,750 SF of warehouse space, and a 572 SF mezzanine, featuring 1 drive-in door and is leased through 4/30/2025. Unit C is a +/- 4,000 SF leased space with approximately 250 SF of office space and 3,750 SF of warehouse space, featuring 1 drive-in door and is leased through 11/30/2025. Unit D is a vacant +/- 9,686 SF space with approximately 686 SF of office space, a 1,666 SF mezzanine, and 7,334 SF of warehouse space, featuring 2 drive-in loading doors and a 2-ton crane with welding hood. +/- 16,694 SF is vacant for an owner-user to occupy.
Key Highlights
- +/- 16,694 SF vacant for Owner‑User occupancy within a +/- 23,270 SF building.
- Immediate access to I‑5.
- Clear span warehouse (no columns) with 3‑phase power.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$262,403
Cap Rate
7.39%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$5,248,060
$5.2M
Cap Rate 7%
$3,748,614
$3.7M
Cap Rate 9%
$2,915,589
$2.9M
Market Conditions
NOI Build-Up for 23,270 SF
Gross rent
$441.2K $18.96/SF
− Vacancy
−$37.5K −$1.61/SF
EGI
$403.7K $17.35/SF
− OpEx
−$141.3K −$6.07/SF
NOI
$262.4K $11.28/SF
Area
Snohomish County, WA
Vacancy
8.50%
Lease Rate
$18.96 /SF/Yr
Expense Ratio
35.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$5,248,060
Cap Rate 7%
$3,748,614
Cap Rate 9%
$2,915,589
Alternative Uses
Best Use
Flex RnD
$3.75M
$3.28M – $4.37M
NOI $262,403 @ 7.0% cap · market cap 7.39%
Second Best
Industrial
$3.23M
$2.83M – $3.77M
NOI $226,010 @ 7.0% cap · market cap 6.37%
Theoretical Best
Office A
$6.49M
$5.68M – $7.57M
NOI $454,272 @ 7.0% cap · market cap 12.80%
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
Location Intelligence
Trade Area within ½ mile
236
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 98270, WA
51,969
Population
19,840
Households
2.6
Avg Household Size
37
Median Age
23%
College-Educated
93%
High-School Grad
14.3 sq mi
ZIP Area
3,634
Density / Sq Mi
$102,258
Median Household Income
$50,619
Median Earnings
$1,845
Median Rent
$540,000
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Flex space in Snohomish County, WA
Properties on Market for Flex space in Snohomish County
Vacancy Rate% for Industrial in West region
Frequently Asked Questions
What type of property is this?
Flex space - 23,270 SF flex space with I-5 access.
Where is this flex space located?
The property is located at 5625 48th Dr NE Marysville, WA.
What is the asking price?
The asking price for this property is $3,550,000.
What are key features of this property?
This property features: +/- 16,694 SF vacant for Owner‑User occupancy within a +/- 23,270 SF building.; Immediate access to I‑5.; Clear span warehouse (no columns) with 3‑phase power.
