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

    1301 Lombard Ave Everett, WA 98201-1624

    • Hotels
    • 7,978 SF
    • 0.55 lot acres
    OFF-MARKET
    Last Sale
    Sep 20, 2021
    $2,031,000
    Value Estimations
    $2,165,000
    Show details
    Cap Rate Potential
    2.6%
    Hotels
    Location Intelligence
    Property ID
    US90-0788931
    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

    • Waits Motel / Motel

    Property Details for 1301 Lombard Ave

    Year built
    1957
    Construction
    CONCRETE
    Lot size
    0.55 lot acres
    Property size
    7,978 SF
    Zone code
    R-2
    Property type
    Hotels
    Property subtype
    Motels
    APN
    29051700301400
    APU
    29051700301400

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $2,270,000
      ML approach
      $2,325,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $2,924,000
      Market price range: $2.05M - $3.44M

    • Alternative Use

      Use
      Estimation
      HOTEL/MOTEL
      $2,550,000
      Current use
      RESTAURANT
      $3,125,000
      Change: +23% Conversion: Difficult
      MEDICAL BUILDING
      $2,975,000
      Change: +17% Conversion: Difficult
      OFFICE BUILDING
      $2,730,000
      Change: +7% Conversion: Difficult
      WAREHOUSE, STORAGE
      $2,465,000
      Change: -3% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Everett
    County
    Snohomish
    State
    Washington
    Longitude
    -122.202
    Latitude
    48
    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
    $17,496
    $400,000
    $1,619,500
    $2,019,500
    -
    $400,000
    $1,619,500
    $2,019,500

    Comparable in this City

    • Value Estimation
      $1,015,000
      13,026 SF

      2301 Broadway

      HOTEL/MOTEL • 13,026 SF
      2301 Broadway, Everett, WA 98201-3016
      View Details
    • Value Estimation
      $19,335,000
      147,396 SF

      3105 Pne St

      HOTEL/MOTEL • 147,396 SF
      3105 Pne St, Everett, WA 98201-4534
      View Details
    • Value Estimation
      $1,790,000
      22,216 SF

      1122 Broadway

      HOTEL/MOTEL • 22,216 SF
      1122 Broadway, Everett, WA 98201-1412
      View Details
    • Value Estimation
      $4,030,000
      16,100 SF

      1205 Broadway

      HOTEL/MOTEL • 16,100 SF
      1205 Broadway, Everett, WA 98201-1715
      View Details
    • Value Estimation
      $2,625,000
      22,118 SF

      1700 Marine Vw Dr

      HOTEL/MOTEL • 22,118 SF
      1700 Marine Vw Dr, Everett, WA 98201-2096
      View Details
    • Value Estimation
      $800,000
      9,360 SF

      3030 Broadway

      HOTEL/MOTEL • 9,360 SF
      3030 Broadway, Everett, WA 98201-3638
      View Details

    Similar Nearby for Sale

    • $1,990,000
      88,862 SF

      2.04 Acres Light Industrial Land

      Light industrial land with utilities, near future light rail.
      3207 Pacific Ave, Everett, WA 98201
      View Details
    • $3,500,000

      Downtown Everett Redevelopment Opportunity

      Prime commercial parcel in Everett's urban core for sale.
      1316 Wall St, Everett, WA 98201
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    • $2,450,000

      Land Redevelopment Opportunity

      Land available for redevelopment in excellent location.
      1420 Hewitt Ave, Everett, WA 98201
      View Details
    • $1,500,000

      Development Opportunity in North Everett

      Land slated for rezoning to allow multi-family or mixed-use development.
      503 5Th St, Everett, WA 98201
      View Details
    • $5,100,000
      45,000 SF

      Rare Flex Building Opportunity

      Mixed-use building with office, retail, and warehouse space for sale.
      2815 Baker Ave, Everett, WA 98201
      View Details
    • $279,000

      Lush Ebey Island Acreage

      22+ acres ideal for farming, livestock, or retreat.
      43rd Ave #1-7, Everett, WA 98201
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      17,386 SF

      Everett Industrial Space Available

      17,386 SF Flex Space, Single Tenant
      2727 Marine View Dr, Everett, WA 98201
      View Details
    • $24 SF/Yr
      8,566 SF

      Everett Intermodal Transit Hub Offices

      Four-story intermodal hub with offices, event spaces, and transit.
      3201 Smith Ave, Everett, WA 98201
      View Details
    • $1.30 SF/Yr
      1,444 SF

      Warehouse Space Available For Rent

      1,444 SF warehouse space for rent in Everett, WA.
      3409 Mcdougall Ave, Everett, WA 98201
      View Details
    • $26,800,000
      17,600 SF

      Land with Warehouse and Office

      Land available for sale or lease with existing warehouse.
      300-320 W Marine View Dr, Everett, WA 98201
      View Details
    • $15 SF/Yr
      1,040 SF

      Medical Office Space Available

      Small medical office space featuring exam rooms and restrooms.
      3125 Colby Ave, Everett, WA 98201
      View Details
    • $19,050 /Mo
      15,810 SF

      Mixed-Use Building in Downtown Everett

      Standalone building with warehouse, office, showroom, and basement spaces.
      2812 Rucker Ave, Everett, WA 98201
      View Details
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    1301 Lombard Ave
    Everett, WA 98201-1624
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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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