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    Property profile & analytics

    11611 Airport Rd Everett, WA 98204

    • Office buildings
    • 16,032 SF
    • 0.94 lot acres
    For Lease
    View listing
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US90-1534527
    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

    • Deane Allen Cook - Financial Advisor, Ameriprise Financial Services, LLC / Financial Advisor
    • Jonathan Troll / Physician / Medical Clinic
    • NW Spinal Rehabilitation Clinic, P. S. / Alternative Medicine Practice
    • Dr. Vyacheslav Borisenko / Alternative Medicine Practice

    Property Details for 11611 Airport Rd

    Year built
    2008
    Construction
    TYPE NOT SPECIFIED
    Lot size
    0.94 lot acres
    Property size
    16,032 SF
    Zone code
    F6
    Property type
    Office buildings
    APN
    537900005300
    APU
    537900005300

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $4,770,000
      6.5%
      $4,400,000
      7%
      $4,085,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $2,183,000
      Market price range: $633k - $3.71M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $5,415,000
      Current use
      RETAIL STORES
      $5,205,000
      Change: -4% Conversion: Moderate
      WAREHOUSE, STORAGE
      $4,955,000
      Change: -9% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Everett
    County
    Snohomish
    State
    Washington
    Longitude
    -122.26
    Latitude
    47.8928
    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
    $35,973
    $886,000
    $3,884,000
    $4,770,000
    -
    $886,000
    $3,884,000
    $4,770,000

    Comparable in this City

    • Value Estimation
      $1,705,000
      10,397 SF

      13322 Hwy 99

      PROFESSIONAL BUILDING • 10,397 SF
      13322 Hwy 99, Everett, WA 98204-5440
      View Details
    • Value Estimation
      $6,340,000
      41,600 SF

      12414th Hwy 99

      PROFESSIONAL BUILDING • 41,600 SF
      12414th Hwy 99, Everett, WA 98204-5507
      View Details
    • Value Estimation
      $6,585,000
      44,000 SF

      12432 Hwy 99

      PROFESSIONAL BUILDING • 44,000 SF
      12432 Hwy 99, Everett, WA 98204-5547
      View Details
    • Value Estimation
      $3,315,000
      16,982 SF

      12711 4th W Ave

      PROFESSIONAL BUILDING • 16,982 SF
      12711 4th W Ave, Everett, WA 98204-5783
      View Details
    • Value Estimation by Request
      1,176 SF

      821 128th SW St

      PROFESSIONAL BUILDING • 1,176 SF
      821 128th SW St, Everett, WA 98204-6316
      View Details
    • Value Estimation
      $3,570,000
      18,181 SF

      9930 Evergreen Wayc

      PROFESSIONAL BUILDING • 18,181 SF
      9930 Evergreen Wayc, Everett, WA 98204-3883
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      96,300 SF

      Entitled Mixed-Use Development Site

      Approved plans for a 67,000 SF six-story building.
      2103 Gibson Rd, Everett, WA 98204
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      2.76 Acres Fenced Land

      2.76 acres of fenced land with easy highway access.
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      Turnkey bakery ready for new owner in high-traffic location.
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      Everett NAPA Auto Parts Investment

      Single-tenant NAPA Auto Parts property in Everett, WA for sale.
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      Highway 99 Prime Location Lots

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    Similar Nearby for Lease

    • Contact for pricing

      Versatile Workspace Solutions Available

      Global network of workspaces with flexible options and locations.
      11400 Airport Rd, Everett, WA 98204
      View Details
    • $21,835
      22,281 SF

      Secured Industrial Buildings with Yard

      Two industrial buildings with surplus yard, available immediately for lease.
      10910 Holly Dr, Everett, WA 98204
      View Details
    • $5,708 /Mo
      2,362 SF

      Medical Office Space Available

      Former optometry space with multiple exam rooms, ready for occupancy.
      15 Everett Mall Way, Everett, WA 98204
      View Details
    • Sponsored
      Contact for pricing

      WA, Everett - Airport Rd

      Discover many ways to work your way in WA, Everett - Airport Rd
      11400 Airport Rd, Everett, WA 98204
      View Details
    • Contact for pricing
      2,400 SF

      Everett Office Space For Rent

      Office space in a vibrant retail and business district.
      9930 Evergreen Way, Everett, WA 98204
      View Details
    • $1,194 /Mo
      955 SF

      Everett Office Space For Rent

      Office space available for lease in Everett, Washington.
      11314 4Th Ave W, Everett, WA 98204
      View Details
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    11611 Airport Rd
    Everett, WA 98204
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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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