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    Property profile & analytics

    11630 Airport Rd Everett, WA 98204

    • Warehouses
    • 18,169 SF
    • 0.98 lot acres
    For Lease
    View listing
    $18 SF/Yr
    Value Estimations
    $620,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US90-1772098
    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

    • Silke Communications: Everett, WA / Telecommunications Equipment Supplier / Telecommunications Service Provider
    • Tacoma Screw Products, Inc. / Fastener Supplier / Hardware Store
    • Brothers Metal LLC / Metal Fabricator
    • All Seasons Landscaping Services / Landscape Lighting Designer
    • LA Portable Toilets / Portable Toilet Supplier

    Property Details for 11630 Airport Rd

    Year built
    1994
    Construction
    TYPE NOT SPECIFIED
    Lot size
    0.98 lot acres
    Property size
    18,169 SF
    Zone code
    S1
    Property type
    Warehouses
    APN
    537900005800
    APU
    537900005800

    Description

    This exceptional industrial property, the Airport Commerce Center, offers a prime warehouse space in Everett, Washington. Located at 11630 Airport Rd, 98204, this complex boasts six single-story buildings totaling 82,054 square feet. Currently, 7,920 square feet of warehouse space is available for lease. The available space is part of a multi-tenant building. The buildings feature a desirable 24-foot clear height, perfect for various industrial uses. Each unit includes grade-level and dock-high roll-up doors for convenient loading and unloading. The property benefits from robust power, with 200 amps of 3-phase power available. Constructed with durable concrete tilt-up construction, this warehouse offers a solid and reliable space. Its strategic location near Paine Field and Highway 99 provides excellent access to major transportation arteries, enhancing logistics and distribution efficiency. The property is situated in Snohomish County. Note that the listed triple net (NNN) lease does not include water, sewer, or trash services. This is an excellent opportunity for businesses seeking a well-located, functional warehouse space in a thriving industrial area.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $620,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $598,000
      Market price range: $443k - $856k

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

    Location Insight

    • Map
    • Local Demand
    City
    Everett
    County
    Snohomish
    State
    Washington
    Longitude
    -122.262
    Latitude
    47.8921
    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
    $26,541
    $850,700
    $2,329,300
    $3,180,000
    -
    $850,700
    $2,329,300
    $3,180,000

    Comparable in this City

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      2716 119th SW St

      WAREHOUSE, STORAGE • 21,250 SF
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      View Details
    • Value Estimation
      $4,135,000
      12,950 SF

      11620 Airport Rd

      WAREHOUSE, STORAGE • 12,950 SF
      11620 Airport Rd, Everett, WA 98204-3742
      View Details
    • Value Estimation
      $610,000
      18,226 SF

      13317 Ash Way

      WAREHOUSE, STORAGE • 18,226 SF
      13317 Ash Way, Everett, WA 98204-5014
      View Details
    • Value Estimation
      $1,595,000
      65,256 SF

      2525 Casino Rd

      WAREHOUSE, STORAGE • 65,256 SF
      2525 Casino Rd, Everett, WA 98204-2112
      View Details
    • Value Estimation
      $3,575,000
      8,080 SF

      10121 9th W Ave

      MINI-WAREHOUSE, STORAGE • 8,080 SF
      10121 9th W Ave, Everett, WA 98204-3777
      View Details
    • Value Estimation
      $700,000
      10,244 SF

      813 134th SW St

      WAREHOUSE, STORAGE • 10,244 SF
      813 134th SW St, Everett, WA 98204-6304
      View Details

    Similar Nearby for Sale

    • Contact for pricing
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      Light Industrial Building Near Airport

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      Auto Salvage Business Opportunity

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    Similar Nearby for Lease

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      Everett Warehouse/Storage Suite For Rent

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      Highway 99 Retail and Warehouse

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      2,874 SF flex space with grade level loading.
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      New Industrial Project Near Airport

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      View Details
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    11630 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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