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    Property profile & analytics

    1716 Broadway Everett, WA 98201

    • Medical offices
    • 1,829 SF
    • 0.14 lot acres
    For Sale
    View listing
    $650,000
    Last Sale
    Mar 10, 2025
    $624,977
    Value Estimations
    Cap Rate Potential
    9.4%
    Medical offices
    Location Intelligence
    Property ID
    US90-0790361
    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

    • Crane's All Ears Hearing Center / Medical Clinic / Audiologist
    • Awards of Praise / Trophy Shop / Embroidery Shop

    Property Details for 1716 Broadway

    Year built
    1966
    Construction
    TYPE NOT SPECIFIED
    Lot size
    0.14 lot acres
    Property size
    1,829 SF
    Zone code
    F2
    Property type
    Medical offices
    Property subtype
    Medical centers
    APN
    438235102500
    APU
    438235102500

    Description

    This 1829-square-foot commercial building at 1716 Broadway in Everett, WA, presents a compelling lease/purchase opportunity. Boasting 50 feet of high-visibility frontage on Broadway, this property offers excellent exposure for a variety of businesses. The interior comprises six private rooms, most plumbed for water, a central office area, two restrooms, several storage rooms, and a spacious lobby and reception area featuring a vaulted ceiling. The building's functionality is enhanced by a recently installed PVC roof (December 29, 2021), providing peace of mind for years to come. Additional features include a 10ft x 12ft storage building situated in the rear lot, providing ample extra storage space. Ten on-site parking spaces are available for employees and clients, a significant advantage in a busy commercial area. Originally designed as a medical clinic, this versatile space is well-suited for a range of commercial uses, offering significant potential for future growth and success. The asking price is $3200 (please inquire for details on lease/purchase options). The property is located in Everett, WA, and sits on a lot with zero acres.

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $460,000
      6.5%
      $425,000
      7%
      $395,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $555,000
      Market price range: $552k - $997k

    • Alternative Use

      Use
      Estimation
      MEDICAL BUILDING
      $680,000
      Current use
      OFFICE BUILDING
      $625,000
      Change: -8% Conversion: Easy
      WAREHOUSE, STORAGE
      $565,000
      Change: -17% 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
    47.9944
    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
    $3,552
    $379,000
    $53,600
    $432,600
    -
    $379,000
    $53,600
    $432,600

    Comparable in this City

    • Value Estimation
      $24,280,000
      141,051 SF

      900 Pacific Ave

      MEDICAL BUILDING • 141,051 SF
      900 Pacific Ave, Everett, WA 98201-4168
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    • Value Estimation
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      61,226 SF

      1330 Rockefeller Ave

      MEDICAL BUILDING • 61,226 SF
      1330 Rockefeller Ave, Everett, WA 98201-1684
      View Details
    • Value Estimation
      $2,075,000
      10,674 SF

      3125 Colby Ave

      MEDICAL BUILDING • 10,674 SF
      3125 Colby Ave, Everett, WA 98201-4032
      View Details
    • Value Estimation
      $19,960,000
      0.10 Acres

      Everett, WA 98201

      MEDICAL BUILDING • 0.10 Acres
      Everett, WA 98201
      View Details
    • Value Estimation
      $19,670,000
      55,857 SF

      3901 Hoyt Ave

      MEDICAL BUILDING • 55,857 SF
      3901 Hoyt Ave, Everett, WA 98201-4918
      View Details
    • Value Estimation
      $1,630,000
      10,600 SF

      2205 Wall St

      MEDICAL BUILDING • 10,600 SF
      2205 Wall St, Everett, WA 98201-3761
      View Details

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    1716 Broadway
    Everett, WA 98201
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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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