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Property profile & analytics
OFF-MARKET
Estimated value
$10,090,000
Hotels
1602 Everett Mall Way, Everett, WA 98208-2835
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US90-3307189
Property profile
Verified
Property type
Hotels
Use group
HOTEL/MOTEL
Year built
1968
Construction
WOOD
Total area
21,432 SF
Lot
1.28 ac (55,757 SF)
Zoning code
C-1R
APN
28051800400600
UPID
US90-3307189
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$10.28M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$9.24M
Blend (final)
Blend
$10.09M
Owner & transaction history
Snohomish County · 3 yrs held
Snohomish County
since 2022
Last sale
$9.9M
7 recorded transactions
Zoning & alternative use
C-1R · Everett, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Apartment house (5+ units)
$10.8M
+57.7%
Restaurant
$10.1M
+47.4%
Medical building
$8.0M
+16.6%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Everett submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Everett submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$10,215,000
ML approach
$10,275,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
HOTEL/MOTEL
$6,850,000
Current use
APARTMENT HOUSE (5+ UNITS)
$10,805,000
Change: +58% · Conversion: Difficult
RESTAURANT
$10,100,000
Change: +47% · Conversion: Difficult
MEDICAL BUILDING
$7,985,000
Change: +17% · Conversion: Difficult
AUTO REPAIR, GARAGE
$7,540,000
Change: +10% · Conversion: Difficult
OFFICE BUILDING
$7,240,000
Change: +6% · Conversion: Difficult
RETAIL STORES
$6,955,000
Change: +2% · Conversion: Difficult
WAREHOUSE, STORAGE
$6,620,000
Change: -3% · Conversion: Difficult
Blend value · Realmo final
$10.09M
Range $9.08M – $11.10M · ±10% · vs last sale $9.93M (Dec 7 2022)
Last sale anchor
$9.93M
Dec 7 2022
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$471 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Assessed value
$6,949,300
Assessed 2023
Previous assessed
$5,639,000
+23.2% YoY
Assessed land
$2,057,000
Assessed improvement
$4,892,300
Land market value
$2,057,000
Improvement market value
$4,892,300
Total market value
$6,949,300
Applied tax rate
10.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Hotels
Use group
HOTEL/MOTEL
Status
Off-Market
Year built
1968
Construction
WOOD
Heating
YES
Cooling
NONE
Buildings
2
Stories
2
Total area
21,432 SF
Lot
1.28 ac (55,757 SF)
Zoning code
C-1R
APN
28051800400600
UPID
US90-3307189
Jurisdiction
SNOHOMISH
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
C-1R · Everett, WA
Zoning C-1R · permitted uses
C-1R · Everett, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Everett. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
HOTEL/MOTEL Current
Est. value
$6.9M
APARTMENT HOUSE (5+ UNITS)
Est. value
$10.8M
RESTAURANT
Est. value
$10.1M
MEDICAL BUILDING
Est. value
$8.0M
AUTO REPAIR, GARAGE
Est. value
$7.5M
OFFICE BUILDING
Est. value
$7.2M
RETAIL STORES
Est. value
$7.0M
WAREHOUSE, STORAGE
Est. value
$6.6M
HOTEL/MOTEL Current
APARTMENT HOUSE (5+ UNITS)
RESTAURANT
MEDICAL BUILDING
AUTO REPAIR, GARAGE
OFFICE BUILDING
RETAIL STORES
WAREHOUSE, STORAGE
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1968
Construction
WOOD
Heating
YES
Cooling
Yes
Stories
2
Buildings
2
Lot
1.28 ac
Current owner
From public records · entity-resolved
Snohomish County
Entity
Mailing address
3000 ROCKEFELLER AVE #404, EVERETT, WA 98201-4071
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
14 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 7, 2022
$9,931,800
Snohomish County
Harman Investment Group INC
Warranty Deed
—
Jan 25, 2019
—
Harman Investment Group INC
—
Deed
related
$4,400,000 · Coastal Community Bank
Apr 11, 2017
—
Harman Investment Group INC
—
Deed
related
$159,000 · Wan S & Ki S Kim
Dec 27, 2016
$5,361,000
Harman Investment Group INC
Kim,wan S & Ki S
Warranty Deed
$4,495,000 · Bank Of The Cascades
Mar 5, 2015
$3,000,000
Wan S Kim
P3 Motiv Corp
Warranty Deed
$2,264,000 · Unibank
Nov 13, 2012
$2,624,000
P3 Motiv Corp
Sandeep Herman Corp
Warranty Deed
$2,622,000 · Bbu Bank
Jul 31, 2006
$2,862,000
Sandeep Herman Corp
Fonio LLC
Warranty Deed
$2,300,000 · Innovative Bank
Oct 23, 2003
$2,850,000
Fonio LLC
Nizail Investments LLC
Grant Deed
$1,320,000 · First National Bank
Oct 23, 2003
—
Fonio LLC
—
Deed Of Trust
related
$1,320,000 · Valley Bank
Aug 1, 2001
$2,600,449
Nizail Investments LLC
Kim,ki H & Hae K
Grant Deed
$2,300,000 · City Bank
Jun 1, 1993
$2,475,000
Ki Hong Kim
Unknown
Grant Deed
—
—
—
Nizail Investments LLC
—
Deed Of Trust
related
$337,212 · City Bank
—
—
Harman Investment Group INC
—
Deed Of Trust
related
$159,000 · Wan S & Ki S Kim
—
—
Ki H Kim
—
Deed Of Trust
related
$1,942,450 · Key Bank NA
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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