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Property profile & analytics
FOR LEASE
Manufacturing properties
3812 28Th Pl NE, Everett, WA 98201
Entity Owned
1-yr Hold
~
Est. High Equity
Property ID
US90-0753205
For Lease
$19,785,000
3812 28Th Pl NE, Everett, WA 98201
View Listing →
Property profile
Verified
Property type
Manufacturing properties
Use group
MILL (FEED, GRAIN, LUMBER, TEXTILE)
Year built
1961
Construction
WOOD
Total area
41,160 SF
Lot
53.54 ac (2,332,202 SF)
Zoning code
FE
APN
29050400300600
UPID
US90-0753205
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
-
Buse Timber & Sales Inc Big Box & Wholesale Store Building Supply
-
BTS Lumber Holdings Holding Company
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$19.01M
Blend (final)
Blend
$19.79M
Owner & transaction history
Pkst Everett 28th Place LLC · 1 yrs held
Pkst Everett 28th Place LLC
since 2024
Last sale
$20.0M
7 recorded transactions
Zoning & alternative use
FE · Everett, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Apartment house (5+ units)
$20.8M
+108.0%
Restaurant
$16.1M
+61.6%
Medical building
$15.3M
+53.8%
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
$20,130,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$20,750,000
Change: +108% · Conversion: Difficult
RESTAURANT
$16,120,000
Change: +62% · Conversion: Difficult
MEDICAL BUILDING
$15,340,000
Change: +54% · Conversion: Difficult
OFFICE BUILDING
$14,095,000
Change: +41% · Conversion: Difficult
WAREHOUSE, STORAGE
$12,720,000
Change: +27% · Conversion: Easy
Blend value · Realmo final
$19.79M
Range $17.81M – $21.76M · ±10% · vs last sale $20.00M (Aug 13 2024)
Last sale anchor
$20.00M
Aug 13 2024
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
$481 / 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
$170,746
Tax year 2023
Assessed value
$16,949,100
Assessed 2023
Previous assessed
$12,988,000
+30.5% YoY
Effective rate
1.01%
On assessed value
Assessed land
$8,100,000
Assessed improvement
$8,849,100
Land market value
$8,100,000
Improvement market value
$8,849,100
Total market value
$16,949,100
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
Manufacturing properties
Use group
MILL (FEED, GRAIN, LUMBER, TEXTILE)
Status
For Lease
Year built
1961
Construction
WOOD
Heating
YES
Cooling
NONE
Buildings
11
Stories
2
Rooms
4
Bathrooms
2
Total area
41,160 SF
Lot
53.54 ac (2,332,202 SF)
Zoning code
FE
APN
29050400300600
UPID
US90-0753205
Jurisdiction
SNOHOMISH
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
FE · Everett, WA
Zoning FE · permitted uses
FE · 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
APARTMENT HOUSE (5+ UNITS)
Est. value
$20.8M
RESTAURANT
Est. value
$16.1M
MEDICAL BUILDING
Est. value
$15.3M
OFFICE BUILDING
Est. value
$14.1M
WAREHOUSE, STORAGE
Est. value
$12.7M
APARTMENT HOUSE (5+ UNITS)
RESTAURANT
MEDICAL BUILDING
OFFICE BUILDING
WAREHOUSE, STORAGE
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
1961
Construction
WOOD
Heating
YES
Cooling
Yes
Stories
2
Buildings
11
Rooms
4
Bathrooms
2
Lot
53.54 ac
Current owner
From public records · entity-resolved
Pkst Everett 28th Place LLC
Entity
Mailing address
414 S 16TH ST STE #100, PHILADELPHIA, PA 19146-1989
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
11 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 13, 2024
$20,000,000
Pkst Everett 28th Place LLC
3812 Ieveretf Partners LLC
Bargain & Sale Deed
—
Nov 30, 2021
$18,000,000
3812 Everett Partners LLC
Buse Timber & Sales INC
Bargain And Sale Deed
—
Nov 7, 2018
—
Buse Timber & Sales INC
—
Deed
related
—
Jul 12, 2018
—
Buse Timer & Sales INC
—
Deed
related
$1,000,000 · Umpqua Bank
Nov 3, 2011
—
Kisan Enterprise LLC
Buse Timber & Sales INC
Warranty Deed
related
—
Oct 27, 2011
$120,000
Kisan Ents LLC
Buse Timber & Sales INC
Grant Deed
related
—
Jul 1, 2011
$120,000
Kisan Ent LLC
Buse Timber & Sales INC
Warranty Deed
—
Dec 23, 2010
—
Buse Timber & Sales INC
—
Deed Of Trust
related
$4,000,000 · Umpqua Bank
Mar 11, 2004
$52,360
Buse Timber & Sales INC
Buse,georgia M & Norman M
Grant Deed
related
$3,889,200 · Washington Trust Bank
—
—
Buse Timber & Sales INC
—
Loan Modification, Consolidation And Extension
related
—
—
—
Buse Timber & Sales INC
—
Deed Of Trust
related
$300,000 · Washington Trust Bank
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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