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Property profile & analytics
FOR LEASE
Retail space
2500 Hewitt Ave Everett, WA 98201
Entity Owned
19-yr Hold
~
Est. High Equity
Property ID
US90-1559504
For Lease
$15 SF/Yr
2500 Hewitt Ave, Everett, WA 98201
View Listing →
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1946
Construction
TYPE NOT SPECIFIED
Total area
13,176 SF
Lot
0.56 ac (24,394 SF)
Zoning code
F6
APN
437869300900
UPID
US90-1559504
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
Current use
Occupant on record · Public records
-
Everett Community Resource Center Charitable Organization Social Service Agency
-
Washington State Special Education Coalition Special Education Facility
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$2.93M
Comparable Approach
Comparable
$4.02M
Blend (final)
Blend
$2.97M
Owner & transaction history
H&l Petersen LLC · 19 yrs held
H&l Petersen LLC
since 2007
4 recorded transactions
Zoning & alternative use
F6 · Everett, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$4.9M
+79.7%
Office building
$4.5M
+65.2%
Warehouse, storage
$4.1M
+49.0%
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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$3,170,000
6.5%
$2,925,000
7%
$2,720,000
Alternative Use
Use
Estimation
RETAIL STORES
$2,730,000
Current use
MEDICAL BUILDING
$4,910,000
Change: +80% · Conversion: Difficult
OFFICE BUILDING
$4,510,000
Change: +65% · Conversion: Easy
WAREHOUSE, STORAGE
$4,070,000
Change: +49% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$3,195,000
Change: +17% · Conversion: Difficult
COMMERCIAL (GENERAL)
$3,105,000
Change: +14% · Conversion: Easy
Blend value · Realmo final
$2.97M
Range $2.67M – $3.26M · ±10%
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
$225 / 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
Tax billed
$28,618
Tax year 2023
Assessed value
$3,485,000
Assessed 2023
Previous assessed
$3,233,000
+7.8% YoY
Effective rate
0.82%
On assessed value
Assessed land
$559,100
Assessed improvement
$2,925,900
Land market value
$559,100
Improvement market value
$2,925,900
Total market value
$3,485,000
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
For Lease
Year built
1946
Construction
TYPE NOT SPECIFIED
Heating
YES
Cooling
NONE
Stories
1
Total area
13,176 SF
Lot
0.56 ac (24,394 SF)
Zoning code
F6
APN
437869300900
UPID
US90-1559504
Jurisdiction
SNOHOMISH
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
F6 · Everett, WA
Zoning F6 · permitted uses
F6 · 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
RETAIL STORES Current
Est. value
$2.7M
MEDICAL BUILDING
Est. value
$4.9M
OFFICE BUILDING
Est. value
$4.5M
WAREHOUSE, STORAGE
Est. value
$4.1M
INDUSTRIAL (GENERAL)
Est. value
$3.2M
COMMERCIAL (GENERAL)
Est. value
$3.1M
RETAIL STORES Current
MEDICAL BUILDING
OFFICE BUILDING
WAREHOUSE, STORAGE
INDUSTRIAL (GENERAL)
COMMERCIAL (GENERAL)
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
1946
Construction
TYPE NOT SPECIFIED
Heating
YES
Cooling
Yes
Stories
1
Lot
0.56 ac
Current owner
From public records · entity-resolved
H&l Petersen LLC
Entity
Mailing address
2325 79TH AVE SE, LAKE STEVENS, WA 98258-4510
Ownership since
2007
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 15, 2017
—
H & L Petersen LLC
—
Deed
related
$2,318,000 · Sound Cu
Mar 22, 2007
—
H&l Petersen LLC
Gary Petersen
Quit Claim Deed
related
$2,700,000 · Washington Mutual Bank
Feb 5, 2002
—
Gregary Petersen
—
Trustees Deed
related
$1,600,000 · Coastal Community Bank
—
—
H & L Petersen LLC
—
Deed Of Trust
related
$2,318,000 · Sound Cu
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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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