3532 Broadway Everett, WA 98201-5026
- Turn key restaurants
- 2,400 SF
- 0.24 lot acres
Current Use by Public Records
- 76 / Gas Station
- CoinFlip Bitcoin ATM / Bank / Business Banking Service
- ATM (South Broadway Food Mart) / Atm / Convenience Store
Property Details for 3532 Broadway
- Year built
- 1984
- Construction
- CONCRETE
- Lot size
- 0.24 lot acres
- Property size
- 2,400 SF
- Zone code
- BMU
- Property type
- Turn key restaurants
- APN
- 437385701701
- APU
- 437385701701
Description
This exceptional investment opportunity presents a fee-simple ownership of a thriving convenience store and gas station located at 3532 Broadway, Everett, WA 98201, within the Seattle MSA. The property boasts a 2,399 square foot building situated on a 0.55-acre lot. Currently operating under a 20-year absolute NNN lease with United Pacific | Apro, LLC, a corporate guarantor, the lease commenced July 1, 2015, and expires June 30, 2035, leaving a substantial 10.6 years remaining. The lease includes attractive 7.5% rent bumps every five years and three 5-year lease options. The property generates a strong net operating income (NOI) of $115,809, resulting in a compelling 5.50% cap rate. The property benefits from its location on a main retail thoroughfare with approximately 192,000 vehicles passing daily, providing excellent visibility and accessibility. Its proximity to I-5 and a minor league baseball stadium further enhances its strategic position within a top metropolitan statistical area (MSA). This is a truly passive investment opportunity with zero landlord responsibilities, offering significant long-term value and potential for appreciation in a tax-free state. The asking price is $2,110,000. 100% occupancy ensures consistent cash flow.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $1,955,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $1,715,000
- 6.5%
- $1,820,000
- 7%
- $1,915,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $1,475,000
- Geo Method
- $1,845,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $1,785,000
- Retail
- $1,875,000
- Mixed-Use
- $1,450,000
- Hospitality
- $1,715,000
- Educational
- $1,755,000
- Residential Income
- $1,615,000
- Energy
- $1,650,000
- Income-Based Land
- $1,770,000
- Food Service
- $1,610,000
Location Insight
- Map
- Local Demand
- City
- Everett
- County
- Snohomish
- State
- Washington
- Longitude
- -122.202
- Latitude
- 47.9703
- CBSA code
- 42660
- CBSA name
- SEATTLE-TACOMA-BELLEVUE, WA METROPOLITAN STATISTICAL AREA
