2112 Madison St Everett, WA 98203-5376

This exceptional mixed-use property, located at 2112 Madison St in Everett, WA, presents a compelling investment opportunity. The 5,644 square foot building, constructed in 1995, boasts a desirable B1 zoning classification and sits on a 0.21-acre lot (APN: 00545001800600). Currently operating at 90% occupancy with 12 tenants, the property includes three residential units (two 2-bed/2-bath units of 1000 sq ft each, and one 1-bed/1-bath unit of 812 sq ft) and approximately 3000 sq ft of commercial space divided into six leased offices. The building features two gas furnaces and two A/C units. The current Net Operating Income (NOI) is $60,165, yielding a 4.30% cap rate. However, a pro-forma analysis projects a significantly higher NOI of $108,565 and a 7.75% cap rate, suggesting substantial value-add potential. The asking price is $1,400,000, representing a price per unit of $350,000. The property benefits from excellent signage and visibility, a large rear parking lot, and a prime location near downtown Everett, major transportation arteries (including easy I-5 access), public transit, shopping, and entertainment. The building is well-maintained and offers low maintenance costs. The property is free and clear. This stabilized investment offers significant upside potential through potential consolidation of the commercial space.