Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    8421 Evergreen Wy Everett, WA 98208

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    Hotel/motel with 66 units, great investment opportunity.

    Type:Hospitality
    Property size:
    19,872 SF
    Lot size:
    0.97 Acres
    Added:
    Sep 23, 2024
    Days on Market:
    573
    Last Refresh:
    Mar 17 at 1:13 pm

    Property Features for 8421 Evergreen Wy

    General Information

    Standard status
    Active
    Size
    19,872 SF
    Lot size
    0.97 Acres
    Property subtype
    Hospitality

    We can help!

    Listing Contact
    Brian Do

    Listing agent Brian Do License #WA

    Listing office RealtyAll.com

    Listing date Sep 23, 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 RealtyAll.com

    Overview

    Sunrise Inn Hotel/Motel Property

    The Sunrise Inn is a hotel/motel property located at 8421 Evergreen Way, Everett, WA 98208. Constructed in 1981, the property includes a total of 66 units. The building has 19,872 square feet of space and is situated on a 42,253 square foot lot. The property is listed for sale and presents an investment opportunity. The gross sales total was $900,000 in 2025. The property is strategically situated in an excellent area with great potential for growth and success.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Sunrise Inn Everett Hotel & Motel

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Dental Office Spa & Massage Center Big Box & Wholesale Store Auto Repair Shop Hair Salon Hotel & Motel

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • Sunrise Inn Everett — 8421 Evergreen Wy, Everett, WA 98208
    • Mall Way Event Center LLC — 710 SE Everett Mall Way, Everett, WA 98208
    • Everett Washington — Evergreen Way, Everett, WA 98204, United States
    • Executive Residency By Best Western Navigator Inn & Suites — 10210 Evergreen Wy, Everett, WA 98204
    • Motel 6 Everett, WA - North — 10006 Evergreen Wy, Everett, WA 98204

    Location Insight

    • Map
    • Local Demand
    City
    Everett
    County
    Snohomish
    State
    Washington
    Longitude
    -122.2280155
    Latitude
    47.9201863

    Nearby Similar for Sale

    • $650,000
      1,829 SF

      Everett Retail/Medical Building on Broadway

      1,829 SF building suitable for retail, office, or medical use.
      1716 Broadway, Everett, WA 98201
      View Details
    • $1,000,000
      2,905 SF

      Retail Opportunity on High-Visibility Corner

      2,905 SF retail building on a 13,504 SF lot.
      3723 Rucker Avenue, Everett, WA 98201
      View Details
    • $2,200,000

      Everett NAPA Auto Parts Property

      Single-tenant NAPA Auto Parts property in Everett, WA for sale.
      9423 Evergreen Way, Everett, WA 98204
      View Details
    • $650,000
      1,829 SF

      Everett Retail Space on Broadway

      1,829 SF retail building on Broadway in Everett.
      1716 Broadway, Everett, WA 98201
      View Details
    • $2,200,000
      10,500 SF

      Everett NAPA Auto Parts Investment

      Single-tenant NAPA Auto Parts property in Everett, WA for sale.
      9423 Evergreen Way, Everett, WA 98204
      View Details
    • $475,000
      1,960 SF

      Heated Hangar with Bi-Fold Door

      1,960 SF heated hangar with secure access.
      3507 103rd Street SW #D10, Everett, WA 98204
      View Details
    • $4,050,000
      15,724 SF

      Everett Industrial Investment Opportunity

      Single-tenant industrial property leased to Ferguson Enterprises in Everett, WA.
      1012 132nd Street Southwest, Everett, WA, 98204
      View Details
    • $17

      Grocery Anchored Retail Center

      Grocery-anchored retail center with high traffic and ample parking.
      5305 Evergreen Way, Everett, WA 98203
      View Details
    • $2,650,000
      8,958 SF

      Everett Industrial Facility with Yard

      Purpose-built industrial facility with open-air storage and covered shop bays.
      2810 34th Street, Everett, WA 98201
      View Details
    • $1,349,000
      2,923 SF

      Everett Commercial Property with Upside

      Two-parcel commercial property in high-traffic area with strong growth potential.
      6915 Evergreen Way, Everett, WA, 98203-5149
      View Details
    • $700,000
      990 SF

      Everett Commercial Building on Evergreen

      990 SF commercial building with updated HVAC and parking.
      5802 Evergreen Way, Everett, WA 98203
      View Details
    • $350,000
      1,709 SF

      Heated Hangar with Secure Access

      1,709 sq ft heated hangar with secure airport access.
      3520 105th Place SW #A5, Everett, WA 98208
      View Details

    FAQs

    What type of property is this?
    Motel - Hotel/motel with 66 units, great investment opportunity.
    Where is this motel located?
    The property is located at 8421 Evergreen Wy Everett, WA.
    What is the asking price?
    The asking price for this property is $5,860,000.
    What are key features of this property?
    This property features: 66 Units: Substantial number of units provides significant revenue potential.; Projected $900,000 gross sales in 2025 indicates strong financial performance.; Prime Location: Strategically situated in an excellent area with growth potential.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Brian Do
    Real Estate License ID: WA
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!