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    Property profile & analytics

    1000 Everett Mall Way Everett, WA 98208-2814

    • Office buildings
    • 72,307 SF
    • 4.15 lot acres
    OFF-MARKET
    Last Sale
    Dec 15, 2022
    $14,250,000
    Value Estimations
    $18,475,000
    Show details
    Cap Rate Potential
    7.1%
    Office buildings
    Location Intelligence
    Property ID
    US90-0401356
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Memory Lane Homes - Merina Lipsky / Real Estate Agent
    • The Torset Group / Real Estate Agent / Real Estate Agency
    • TERRA Staffing Group / Temp Agency / Employment Agency
    • Platz Group - Keller Williams Realty / Real Estate Agency / Real Estate Agent
    • Amy Farrow - Home Experience Group / Real Estate Agency / Real Estate Agent

    Property Details for 1000 Everett Mall Way

    Year built
    1986
    Construction
    STEEL FRAME
    Lot size
    4.15 lot acres
    Property size
    72,307 SF
    Zone code
    C1R
    Property type
    Office buildings
    APN
    28051800305401
    APU
    28051800305401

    Description

    This exceptional office space at Everett Mall Office Park II offers four available suites ranging from 742 to 3,598 square feet, perfect for businesses of various sizes. Located at 1000 SE Everett Mall Way, Everett, WA 98208, this traditional office space boasts a prime location with excellent access to Interstate 5, providing convenient commuting for employees and clients. The property features ample parking, with a ratio of 4 spaces per 1,000 rentable square feet. Its proximity to Everett's Paine Field Airport (within 2.5 miles) adds significant convenience for those needing frequent air travel. The building benefits from a local ownership team and an on-site building engineer, ensuring efficient management and maintenance. Furthermore, the property's adjacency to the Everett Mall, currently undergoing renovations, promises increased foot traffic and enhanced visibility for your business. This is a unique opportunity to establish your presence in a thriving and rapidly developing area of Snohomish County, Washington. The multiple tenancy structure allows for flexibility and scalability, making it an ideal choice for businesses seeking growth and expansion. Contact us today to schedule a viewing and secure your ideal office space.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $18,145,000
      ML approach
      $10,010,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $21,505,000
      6.5%
      $19,855,000
      7%
      $18,435,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $20,541,000
      Market price range: $17.6M - $33.9M

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Everett
    County
    Snohomish
    State
    Washington
    Longitude
    -122.219
    Latitude
    47.9094
    CBSA code
    42660
    CBSA name
    SEATTLE-TACOMA-BELLEVUE, WA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $119,347
    $6,421,000
    $8,111,500
    $14,532,500
    -
    $6,421,000
    $8,111,500
    $14,532,500

    Comparable in this City

    • Value Estimation
      $735,000
      17,213 SF

      9121 Merchant Way

      PROFESSIONAL BUILDING • 17,213 SF
      9121 Merchant Way, Everett, WA 98208-2450
      View Details
    • Value Estimation
      $950,000
      19,384 SF

      500 Everett Mall Way

      PROFESSIONAL BUILDING • 19,384 SF
      500 Everett Mall Way, Everett, WA 98208-8110
      View Details
    • Value Estimation
      $565,000
      7,200 SF

      1710 100th SE Pl

      PROFESSIONAL BUILDING • 7,200 SF
      1710 100th SE Pl, Everett, WA 98208-3839
      View Details
    • Value Estimation
      $445,000
      6,230 SF

      10505 19th SE Ave

      PROFESSIONAL BUILDING • 6,230 SF
      10505 19th SE Ave, Everett, WA 98208-4280
      View Details
    • Value Estimation
      $2,080,000
      8,000 SF

      206 Casino Rd

      PROFESSIONAL BUILDING • 8,000 SF
      206 Casino Rd, Everett, WA 98208-2609
      View Details
    • Value Estimation
      $420,000
      2,652 SF

      2229 132nd SE St

      PROFESSIONAL BUILDING • 2,652 SF
      2229 132nd SE St, Everett, WA 98208-7147
      View Details

    Similar Nearby for Sale

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      Everett Office Building For Sale

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      38,147 SF

      Everett Office Building Near I-5

      22,848 SF office building near Everett Mall and I-5.
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      Silver Pond Medical Center Investment

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      Versatile Commercial Property in Everett

      Well-located commercial property suitable for office, retail, flex, and industrial uses.
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      Turn-Key Healthcare Space For Sale

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    Similar Nearby for Lease

    • Contact for pricing
      36,778 SF

      Everett Mall Executive Suites

      Prime Everett Office Space, 8 Suites Available
      906 Everett Mall Way, Everett, WA 98208
      View Details
    • $18 SF/Yr
      690 SF

      Everett Office Space Available

      690 square foot office space for rent in Everett.
      909 Southeast Everett Mall Way, Everett, WA 98208
      View Details
    • $19 SF/Yr
      1,250 SF

      Everett Office Space For Rent

      Office space featuring reception area and break room.
      10414 19Th Ave SE, Everett, WA 98208
      View Details
    • $1,500 /Mo

      Everett Office Space For Rent

      Modern office space in Everett, ideal for small businesses.
      206 E Casino Rd, Everett, WA 98208
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    • $16 SF/Yr
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      Second story office space in Cascade View corridor, available now.
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      Everett Office Space For Rent

      984 square feet of office space available for lease.
      1910 120Th Pl SE, Everett, WA 98208
      View Details
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    Everett, WA 98208-2814
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    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
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