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    2815 Baker Ave Everett, WA 98201

    Sponsored
    For Sale
    $5,400,000

    Everett, WA Flex Space, High NOI

    Property size:
    45,000 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This Everett, WA, multi-tenant property offers a compelling investment opportunity with a 7.33% cap rate and a strong NOI of $395,784. The 45,000 square foot building, constructed in 1905 and renovated in 2018, features 17 units across three stories, boasting a mix of office, retail, and warehouse space. The flexible layout includes 30,000 square feet of net rentable space, ideal for owner-occupancy. Amenities include four dock-high doors, a freight elevator, 7-12 foot ceiling heights, and 45 parking spaces across two lots. The property sits on a 0.5-acre lot with MU (Mixed Urban) zoning, providing excellent access to Interstate 5 and State Route 2. Recent capital improvements enhance its value, and its multiple loading and access points make it a rare find. The building currently houses a diverse tenant base, including art and photography companies. This prime location in Snohomish County, WA, within an Opportunity Zone, presents a unique chance to acquire a well-maintained, income-generating property with significant upside potential. The asking price is $5,400,000, with a price per square foot of $120. APN: 004378-658-006-00 & 004378-659-031-00.

    Property Features for 2815 Baker Ave

    General Information

    Property type
    Distribution properties
    Square Feet
    45,000 SF
    Class
    B
    Lot Size
    21,780 SF

    Building Details

    Year Built/Renovated
    1905/2018
    Buildings
    1
    Stories
    3
    Units
    17

    HighLights

    • Ample parking with two lots.
    • Multiple roll‑up doors for convenient loading and unloading.
    • Two ground‑level loading docks.
    • Two freight elevators for efficient material handling.
    • Clear ceiling heights ranging from 7' to 12'.
    Property Profile Location Intelligence

    Current Use by Public Records

    The Pelham Group NW Real Estate Agency Cierra Candles - Candle ... Candle Store Kendall Lauren Photography Portrait Studio Lindsey Lee Photography Photography Studio

    Suggested Use

    Realty agency Restaurant Law Firm Dental Office Spa & Massage Hair Salon Nail Salon Clothing Store Gym & Fitness Building Supply

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

    Location Insight

    • Map
    • Local Demand
    City
    Everett
    County
    Snohomish
    State
    Washington
    Longitude
    -122.1954917
    Latitude
    47.9798421

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    FAQs

    What type of property is this?
    Distribution property - Everett, WA Flex Space, High NOI
    Where is this distribution property located?
    The property is located at 2815 Baker Ave Everett, WA.
    What is the asking price?
    The asking price for this property is $5,400,000.
    What are key features of this property?
    This property features: Ample parking with two lots.; Multiple roll-up doors for convenient loading and unloading.; Two ground-level loading docks.
    Request Owner's contact information
    2815 Baker Ave Everett, WA 98201
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    Realmo Value Estimation

    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.

    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.

    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
    2815 Baker Ave Everett, WA 98201
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