Mixed-Use Building with Ground
716 3rd St Mukilteo, WA 98275
716 3rd St, Mukilteo, WA, 98275
$4,100,000
For Sale
$4,100,000
Built in 2016, the property combines six residential units with two fully occupied ground-floor retail suites.
Property Size9,482 SF
Price / SF$432.40
Days on Market76
Property Features for 716 3rd St
General Information
- Standard status
- Active
- Size
- 9,482 SF
- Property subtype
- Commercial
Building Details
- Year Built
- 2016
Listing agency
CBRE
(206) 442-2735
Listed by
PETER WRIGHT
Source
Corcoran
Added: May 8 Updated: Jul 22 at 4:46AM Checked: Jul 22 at 4:46AM
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.
Old Town Mukilteo is a mixed-use investment property built in 2016 at 716 3rd St, Mukilteo, WA 98275. The building includes six large two-bedroom, two-bath residential units, with interiors designed more like high-end condominiums. Features include wood cabinetry, quartz and granite countertops, stainless steel appliances, in-unit washer/dryer, and a mix of hardwood, tile, and carpet flooring. Each residence offers a private deck with Puget Sound views, ample storage, and access to secure garage parking.
In addition to the residential component, the property has two ground-floor retail suites that are fully occupied.
The residential units average 1,438 square feet, and the retail suites average approximately 427 square feet, creating a combined income stream from both uses within the same asset.
In addition to the residential component, the property has two ground-floor retail suites that are fully occupied.
The residential units average 1,438 square feet, and the retail suites average approximately 427 square feet, creating a combined income stream from both uses within the same asset.
Key Highlights
- Built in 2016, mixed‑use property with six residential units plus two ground‑floor retail suites
- Six 2‑bedroom, 2‑bath residential units averaging 1,438 SF
- Two retail suites on the ground floor, fully occupied, averaging approximately 427 SF
Local Financial Insights For Apartment 5plus
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 | $278.8k | $29.40 |
| − Vacancy | −$20.9k | −$2.21 |
| EGI | $257.9k | $27.20 |
| − OpEx | −$116.0k | −$12.24 |
| NOI | $141.8k | $14.96 |
9,482 SF · lease $29.40/SF/yr · vacancy 7.50% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$2.03M
$1.77M – $2.36M
NOI $141,825 @ 7.0% cap · market cap 3.46%
Second Best
Retail
$1.91M
$1.67M – $2.23M
NOI $133,619 @ 7.0% cap · market cap 3.26%
Theoretical Best
Office A
$2.64M
$2.31M – $3.09M
NOI $185,106 @ 7.0% cap · market cap 4.51%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Dr. Raquel Tingey
Alternative Medicine Practice
vivianne beauty
Hair Salon
Maegan Knutson
Alternative Medicine Practice
Car Key Replacement ...
Building Supply
Lighthouse Natural Medicine
Alternative Medicine Practice
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FAQs
What type of property is this?
Apartment building - Built in 2016, the property combines six residential units with two fully occupied ground-floor retail suites.
Where is this apartment building located?
The property is located at 716 3rd St Mukilteo, WA.
What is the asking price?
The asking price for this property is $4,100,000.
What are key features of this property?
This property features: Built in 2016, mixed‑use property with six residential units plus two ground‑floor retail suites; Six 2‑bedroom, 2‑bath residential units averaging 1,438 SF; Two retail suites on the ground floor, fully occupied, averaging approximately 427 SF
