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    15 SW Everett Mall Way Everett, WA 98204
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    Property profile & analytics

    15 SW Everett Mall Way Everett, WA 98204

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    • Retail space
    • 26,207 SF
    • 1.23 lot acres
    For Lease
    $3,685,000
    View Listing →
    Retail Space Near Everett Mall For Lease
    $3,685,000

    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 Listing
    Property ID
    US90-2496575
    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

    • Dr. Diana Lam / Physician / Medical Clinic
    • John-Nam Vo / Alternative Medicine Practice
    • Brent Duncan / Alternative Medicine Practice
    • Kip Mueller / Alternative Medicine Practice
    • Dr. William Marson / Alternative Medicine Practice

    Property Details for 15 SW Everett Mall Way

    Year built
    2008
    Construction
    TYPE NOT SPECIFIED
    Lot size
    1.23 lot acres
    Property size
    26,207 SF
    Zone code
    F6
    Property type
    Retail space
    APN
    480201101400
    APU
    480201101400

    Description

    Evergreen Summit Retail Center offers exceptional retail and industrial flex space in Everett, WA. This single-story building, located at 15 SW Everett Mall Way, 98204, boasts a prime location in a strong retail corridor just blocks from the Everett Mall, providing excellent visibility and high foot traffic. The property offers quick access to I-5, ensuring convenient access for both customers and employees. Currently, there are two available spaces totaling 1,691 square feet of vacant space, with additional space potentially available. The total building size is not currently specified. The available spaces range in size from 2,362 to 5,120 square feet, offering flexibility for various business needs. The property is a multi-tenant building, suitable for a variety of retail or light industrial uses. Note that the net operating expenses (NNNs) do not include electricity, water/sewer, and trash. This presents an excellent opportunity for businesses seeking a high-traffic location with convenient access to major transportation routes. The property is situated at 47.9076569 latitude and -122.2342641 longitude.

    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
    -122.234
    Latitude
    47.9077
    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
    $37,274
    $1,907,600
    $2,916,400
    $4,824,000
    -
    $1,907,600
    $2,916,400
    $4,824,000

    Comparable in this City

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      520 128th SW St

      RETAIL STORES (PERSONAL SERVICES) • 20,182 SF
      520 128th SW St, Everett, WA 98204-9362
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    • Value Estimation
      $2,860,000
      11,528 SF

      11120 Evergreen Way

      RETAIL STORES (PERSONAL SERVICES) • 11,528 SF
      11120 Evergreen Way, Everett, WA 98204-3888
      View Details
    • Value Estimation
      $2,135,000
      11,033 SF

      11632 Hwy 99

      RETAIL STORES (PERSONAL SERVICES) • 11,033 SF
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      View Details
    • Value Estimation
      $4,690,000
      19,556 SF

      9017 Evergreen Way

      RETAIL STORES (PERSONAL SERVICES) • 19,556 SF
      9017 Evergreen Way, Everett, WA 98204-7117
      View Details
    • Value Estimation
      $650,000
      1.03 Acres

      Everett, WA 98204

      RETAIL STORES (PERSONAL SERVICES) • 1.03 Acres
      Everett, WA 98204
      View Details

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    Similar Nearby for Lease

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      Evergreen Way Retail Showroom Space

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      Retail Space in Everett Mall

      Retail space available for lease in Everett, Washington.
      210 SW Everett Mall Way, Everett, WA 98204
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      Retail Space on Mukilteo Speedway

      Retail spaces available in a high-traffic Everett location.
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      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
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    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.

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