Everett Commercial Property with
6915 Evergreen Way Everett, WA 98203
For Sale
$1,270,000
Pending
Two-parcel commercial property in high-traffic area with strong growth potential.
Property Size2,923 SF
Lot Size0.24 Acres
Days on Market183
Property Features for 6915 Evergreen Way
General Information
Standard status
Pending
Size
2,923 SF
Lot size
0.24 Acres
Listing Agency:
Lumin Brokers of Washington
(855) 586-4692
Listed By:
Rich Kim · License #50106
(855) 586-4692
Source:
Exprealty
Added: Jan 26
Changed: Jul 6
Last Checked: Jul 26 at 9:35PM
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 Lumin Brokers of Washington
Investment Insights
Based on property information with market context.
Located in the Madison area of Everett, this commercial property includes two parcels, featuring a combined 2,923 square feet. The property consists of 2,139 square feet of retail space in the front and a 784-square-foot vacant office building in the back. Each space has separate access. There are 27 parking spaces available on the property, which is situated on a lot that is shy of half an acre. The property is zoned for flexible use and has strong growth potential. It benefits from high visibility near the intersection of Madison and Evergreen. The current rents are below market value, which presents upside potential for investors or owner-users.
Key Highlights
- High‑traffic location in the Madison area of Everett.
- Combined 2,923 SF of commercial space with separate retail and office buildings.
- Ample parking with 27 total spaces.
Financial Insights For Office B
Simulate Cap Rate and NOI
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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $77.2k | $26.40 |
| − Vacancy | −$12.0k | −$4.09 |
| EGI | $65.2k | $22.31 |
| − OpEx | −$16.3k | −$5.58 |
| NOI | $48.9k | $16.73 |
2,923 SF · lease $26.40/SF/yr · vacancy 15.50% · expense 25.00%
Alternative Uses
Best Use
Office B
$698.6K
$611.3K – $815.1K
NOI $48,905 @ 7.0% cap · market cap 3.85%
Second Best
Retail
$603.0K
$527.6K – $703.5K
NOI $42,207 @ 7.0% cap · market cap 3.32%
Theoretical Best
Office A
$967.5K
$846.6K – $1.13M
NOI $67,728 @ 7.0% cap · market cap 5.33%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Retail space - Two-parcel commercial property in high-traffic area with strong growth potential.
Where is this retail space located?
The property is located at 6915 Evergreen Way Everett, WA.
What is the asking price?
The asking price for this property is $1,270,000.
What are key features of this property?
This property features: High‑traffic location in the Madison area of Everett.; Combined 2,923 SF of commercial space with separate retail and office buildings.; Ample parking with 27 total spaces.
