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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    3501 Colby Ave, Unit 101 Everett, WA 98201-4794

    • Commercial real estate
    • 15,675 SF
    OFF-MARKET
    Last Sale
    Jun 01, 2022
    $7,932,000
    Value Estimations
    $8,110,000
    Show details
    Cap Rate Potential
    2.7%
    Commercial real estate
    Location Intelligence
    Property ID
    US90-0764827
    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

    • Lifelong / Non-Profit Organization
    • Dr. Kelly Cornett / Neurophysiologist
    • Dr. Lynda Kasky Hernandez / Psychologist / Health Care Facility
    • Kira Brooke Mauseth / Psychologist
    • Sadie Teal / Psychologist

    Property Details for 3501 Colby Ave

    Year built
    2001
    Construction
    WOOD
    Property size
    15,675 SF
    Zone code
    R-5
    Property type
    Commercial real estate
    APN
    1063800010100
    APU
    1063800010100

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $8,160,000
      ML approach
      $8,410,000

    • Alternative Use

      Use
      Estimation
      APARTMENT HOUSE (5+ UNITS)
      $7,905,000
      RESTAURANT
      $6,140,000
      MEDICAL BUILDING
      $5,840,000
      OFFICE BUILDING
      $5,370,000

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Everett
    County
    Snohomish
    State
    Washington
    Longitude
    -122.208
    Latitude
    47.9708
    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
    $68,662
    $205,000
    $3,315,000
    $3,520,000
    -
    $205,000
    $3,315,000
    $3,520,000

    Comparable in this City

    • Value Estimation by Request
      4,776 SF

      1301 Hewitt Ave

      COMMERCIAL (GENERAL) • 4,776 SF
      1301 Hewitt Ave, Everett, WA 98201-3920
      View Details
    • Value Estimation
      $8,030,000
      15,863 SF

      3501 Colby Ave Ste, Unit 201

      COMMERCIAL CONDOMINUIM • 15,863 SF
      3501 Colby Ave Ste, Everett, WA 98201-4795
      View Details
    • Value Estimation by Request
      963 SF

      2824 Grand Ave, Unit A102

      COMMERCIAL CONDOMINUIM • 963 SF
      2824 Grand Ave, Everett, WA 98201-3489
      View Details
    • Value Estimation
      $780,000
      6,284 SF

      2720 34th St, Unit 5

      COMMERCIAL CONDOMINUIM • 6,284 SF
      2720 34th St, Everett, WA 98201-4501
      View Details
    • Value Estimation by Request
      2,655 SF

      2718 Colby Ave

      COMMERCIAL CONDOMINUIM • 2,655 SF
      2718 Colby Ave, Everett, WA 98201-3511
      View Details
    • Value Estimation by Request
      687 SF

      3207 Colby Ave, Unit 107

      COMMERCIAL CONDOMINUIM • 687 SF
      3207 Colby Ave, Everett, WA 98201-4350
      View Details

    Similar Nearby for Sale

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      Everett Commercial Development Land

      I-5 Gateway, Multi-Use Zoned, 5.77 Acres
      3204 Pacific Ave, Everett, WA 98201
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      Prime location, multi-family potential.
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      Prime Everett location, high development potential.
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    • $1,500,000

      Everett Waterfront Commercial Land

      Prime Everett location, development potential.
      2813 Marine View Dr, Everett, WA 98201
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    • $5,400,000
      45,000 SF

      Baker Avenue Investment Opportunity

      Everett, WA Flex Space, High NOI
      2815 Baker Ave, Everett, WA 98201
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    • $1,100,000
      17,860 SF

      Land for Sale in Everett

      17,860 SF land with high visibility and I-5 access.
      3001 Hewitt Ave, Everett, WA 98201
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    Similar Nearby for Lease

    • $22 SF/Yr
      2,251 SF

      Everett Office Space For Lease

      Office suite available with quick access to I-5 Freeway.
      2500 Hewitt Ave, Everett, WA 98201
      View Details
    • $19,050 /Mo
      15,810 SF

      Mixed-Use Building in Downtown Everett

      Standalone building with warehouse, office, showroom, and basement spaces.
      2812 Rucker Ave, Everett, WA 98201
      View Details
    • $26,800,000
      17,600 SF

      Land with Warehouse and Office

      Land available for sale or lease with existing warehouse.
      300-320 W Marine View Dr, Everett, WA 98201
      View Details
    • $15 SF/Yr
      1,040 SF

      Medical Office Space Available

      Small medical office space featuring exam rooms and restrooms.
      3125 Colby Ave, Everett, WA 98201
      View Details
    • Contact for pricing
      39,773 SF

      Coastal Bank Building Office Space

      Everett CBD office, 7,406-16,941 sq ft available.
      2815 Colby Ave, Everett, WA 98201
      View Details
    • Contact for pricing
      145,000 SF

      North Sound Tower (Formerly Key Bank Tower)

      Office Properties & Spaces • 145,000 SF
      2707 Colby Ave, Everett, WA 98201
      View Details
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    Everett, WA 98201-4794
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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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