Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Sold
    • Property Lookup
    • Brokers
    11608 Airport Rd Everett, WA 98204

    Property Lookup

    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    11608 Airport Rd Everett, WA 98204

    View on Map
    • Commercial real estate
    • 1,828 SF
    • 0.22 lot acres
    For Sale
    $665,000
    View Listing →
    Commercial Property Near Airport For Sale
    $665,000
    1,828 SF

    Commercial Property Near Airport

    Commercial property with long-term tenant near Boeing and Highway 99.

    11608 Airport Rd, Everett, WA 98204
    View Listing
    Property ID
    US90-0724712
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Airport Massage / Alternative Medicine Practice / Spa & Massage Center

    Property Details for 11608 Airport Rd

    Year built
    1978
    Lot size
    0.22 lot acres
    Property size
    1,828 SF
    Property type
    Commercial real estate
    APN
    00537900005901

    Description

    Exceptional investment opportunity: a thriving Airport Massage parlor in Everett, WA. This 1,828 square foot, single-tenant retail property is situated on a 0.22-acre lot (9,583 square feet) at 11608 Airport Rd, 98204, offering convenient access to Highway 99, Boeing, and the Snohomish County National Airport. The building, constructed in 1978, boasts ample parking with over 12 spots. Currently operating under a long-term triple net (NNN) lease with Airport Massage, the property generates a substantial annual net operating income (NOI) of $59,081, resulting in a compelling 5.98% capitalization rate. The lease features a monthly rent of $4,923.42, subject to a 6% annual increase, ensuring consistent income growth. The asking price is $988,000, translating to $540.48 per square foot. This is a prime commercial site presenting a strong return on investment with a stable tenant and a desirable location. The property's APN is 00537900005901. Don't miss this chance to acquire a well-established, income-producing asset in a thriving market.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Everett
    County
    Snohomish
    State
    Washington
    Longitude
    -122.2612618
    Latitude
    47.8926381

    Comparable in this City

    • $2,200,000

      Everett NAPA Auto Parts Investment

      Single-tenant NAPA Auto Parts property in Everett, WA for sale.
      9423 Evergreen Way, Everett, WA 98204
      View Details
    • Contact for pricing

      Bakery Opportunity on Evergreen Way

      Turnkey bakery ready for new owner in high-traffic location.
      9629 Evergreen Way Way, Everett, WA 98204
      View Details
    • Contact for pricing
      8,960 SF

      Auto Salvage Business Opportunity

      Operating auto salvage business with redevelopment potential in Everett, WA.
      13311 Highway 99 S, Everett, WA 98204
      View Details
    • Contact for pricing
      13,000 SF

      Highway 99 Commercial Property

      1.73 acre site with 13,000 SF building.
      13010 Highway 99, Everett, WA 98204
      View Details
    • $665,000
      1,828 SF

      Commercial Property Near Airport

      Commercial property with long-term tenant near Boeing and Highway 99.
      11608 Airport Rd, Everett, WA 98204
      View Details
    • Contact for pricing
      143,364 SF

      Highway 99 Commercial Property

      Commercial property with strong traffic and proximity to Paine Field.
      11400 Highway 99, Everett, WA 98204
      View Details

    Similar Nearby for Sale

    • $2,200,000

      Everett NAPA Auto Parts Investment

      Single-tenant NAPA Auto Parts property in Everett, WA for sale.
      9423 Evergreen Way, Everett, WA 98204
      View Details
    • Contact for pricing

      Bakery Opportunity on Evergreen Way

      Turnkey bakery ready for new owner in high-traffic location.
      9629 Evergreen Way Way, Everett, WA 98204
      View Details
    • Contact for pricing
      8,960 SF

      Auto Salvage Business Opportunity

      Operating auto salvage business with redevelopment potential in Everett, WA.
      13311 Highway 99 S, Everett, WA 98204
      View Details
    • Contact for pricing
      13,000 SF

      Highway 99 Commercial Property

      1.73 acre site with 13,000 SF building.
      13010 Highway 99, Everett, WA 98204
      View Details
    • $665,000
      1,828 SF

      Commercial Property Near Airport

      Commercial property with long-term tenant near Boeing and Highway 99.
      11608 Airport Rd, Everett, WA 98204
      View Details
    • Contact for pricing
      143,364 SF

      Highway 99 Commercial Property

      Commercial property with strong traffic and proximity to Paine Field.
      11400 Highway 99, Everett, WA 98204
      View Details

    Similar Nearby for Lease

    • $22 SF/Yr
      1,106 SF

      Retail Space in Everett Mall

      Retail space available for lease in Everett, Washington.
      210 SW Everett Mall Way, Everett, WA 98204
      View Details
    • Contact for pricing

      Retail Space on Mukilteo Speedway

      Retail spaces available in a high-traffic Everett location.
      13619 Highway 99, Everett, WA 98204
      View Details
    • Contact for pricing

      Retail Space Near Everett Mall

      Retail space in strong corridor, near Everett Mall and I-5.
      15 SW Everett Mall Way, Everett, WA 98204
      View Details
    • $3,383 /Mo
      1,400 SF

      Retail Space Sublease Opportunity

      Retail space for sublease with high visibility and accessibility.
      530 Everett Mall Way, Everett, WA 98204
      View Details
    • Contact for pricing
      8,346 SF

      Everett Retail Space Available

      Retail property available for lease in Everett, Washington.
      10121 Evergreen Way, Everett, WA 98204
      View Details
    • Contact for pricing
      1,230 SF

      Retail Space in Busy Center

      Retail space in high-traffic, Albertsons-anchored shopping center.
      520 128Th St SW, Everett, WA 98204
      View Details
    View Listing
    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.
    11608 Airport Rd
    Everett, WA 98204
    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!