Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    3532 Broadway Everett, WA 98201-5026

    • Turn key restaurants
    • 2,400 SF
    • 0.24 lot acres
    OFF-MARKET
    Last Sale
    Oct 23, 2023
    $1,795,483
    Value Estimations
    $1,755,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US90-0710904
    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

    • 76 / Gas Station
    • CoinFlip Bitcoin ATM / Currency Exchange Service / Investment Service
    • ATM (South Broadway Food Mart) / Grocery & 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 Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,955,000
      ML approach
      $1,755,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,479,000
      Market price range: $305k - $1.48M

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

    Location Insight

    • Map
    • Local Demand
    City
    Everett
    County
    Snohomish
    State
    Washington
    Longitude
    -122.202
    Latitude
    47.9703
    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
    $10,870
    $488,600
    $835,100
    $1,323,700
    -
    $488,600
    $835,100
    $1,323,700

    Comparable in this City

    • Value Estimation by Request
      2,394 SF

      1806 Broadway

      RESTAURANT • 2,394 SF
      1806 Broadway, Everett, WA 98201-2349
      View Details
    • Value Estimation by Request
      1,767 SF

      3517 Rucker Ave

      RESTAURANT • 1,767 SF
      3517 Rucker Ave, Everett, WA 98201-4628
      View Details
    • Value Estimation by Request
      1,600 SF

      1100 Broadway

      RESTAURANT • 1,600 SF
      1100 Broadway, Everett, WA 98201-1412
      View Details
    • Value Estimation by Request
      990 SF

      4019 Colby Ave

      RESTAURANT • 990 SF
      4019 Colby Ave, Everett, WA 98201-4928
      View Details
    • Value Estimation by Request
      2,750 SF

      2923 Colby Ave

      RESTAURANT • 2,750 SF
      2923 Colby Ave, Everett, WA 98201-4010
      View Details
    • Value Estimation by Request
      4,060 SF

      3011 Grand Ave

      RESTAURANT • 4,060 SF
      3011 Grand Ave, Everett, WA 98201-3910
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      2,256 SF

      Downtown Everett Commercial Asset

      High-visibility commercial property in Downtown Everett's transforming urban district.
      1418 Hewitt Ave, Everett, WA 98201
      View Details
    • Contact for pricing

      Downtown Everett Redevelopment Opportunity

      Prime commercial parcel in Everett's urban core for sale.
      1316 Wall St, Everett, WA 98201
      View Details
    • $650,000
      1,829 SF

      Everett Retail Space on Broadway

      1,829 SF retail building on Broadway in Everett.
      1716 Broadway, Everett, WA 98201
      View Details
    • $4,800,000
      19,768 SF

      Mixed-Use Asset in Downtown Everett

      Fully leased 17-unit property with development potential in Everett's urban zone.
      1313 Hewitt Ave, Everett, WA 98201
      View Details
    • $999,999

      Commercial Lot Ready for Development

      Vacant commercial lot with RV parking plans and permits.
      35th 35Th Ave NE, Everett, WA 98201
      View Details
    • $725,000
      2,500 SF

      Auto Body Shop For Sale

      2500 SF auto body shop on 6098 SF lot.
      2006 Broadway Ave, Everett, WA 98201
      View Details

    Similar Nearby for Lease

    • $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
    • Contact for pricing
      2,105 SF

      High-Visibility Commercial Space on Colby Avenue

      Adaptable 2,105 sq ft space in Everett's Port Gardner district.
      3731 Colby Ave, Everett, WA 98201
      View Details
    • Contact for pricing
      41,180 SF

      2825 Colby Ave

      Office Properties & Spaces • 41,180 SF
      2825 Colby Ave, Everett, WA 98201
      View Details
    • Contact for pricing
      1,066 SF

      Retail Space in Everett, WA

      Retail space available for lease in Everett, Washington.
      3625 Broadway, Everett, WA 98201
      View Details
    • Contact for pricing
      3,900 SF

      Everett Medical Office Building

      Single-tenant medical office, 3,900 SF
      1503 Pacific 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
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    3532 Broadway
    Everett, WA 98201-5026
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!