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Property profile & analytics
FOR SALE
Medical Office Space
4225 Hoyt Ave, Everett, WA 98203
Entity Owned
23-yr Hold
~
Est. High Equity
Property ID
US90-0020901
For Sale
$4,900,000
4225 Hoyt Ave, Everett, WA 98203
View Listing →
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
1976
Construction
WOOD
Total area
12,433 SF
Lot
1.21 ac (52,708 SF)
Zoning code
FR
APN
582202100200
UPID
US90-0020901
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
-
Matthew Hauswald, PA-C is no longer with Western Washington Medical Group: Everett Family Medicine Physician
-
Marsidi Ignatius MD Physician
-
Thomas Richardson Jr, MD, FACC - Western Washington Medical Group: Cardiology Physician
-
Jerome Waldbaum, MD Physician
-
Victoria Longstreth, ARNP - Western Washington Medical Group: Everett Family Medicine Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$2.90M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$2.33M
Owner & transaction history
43rd Hoyt Medical Building LLC · 23 yrs held
43rd Hoyt Medical Building LLC
since 2003
5 recorded transactions
Zoning & alternative use
FR · Everett, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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%
$3,140,000
6.5%
$2,900,000
7%
$2,690,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$3,840,000
Change: -17% · Conversion: Difficult
Blend value · Realmo final
$2.33M
Range $2.10M – $2.56M · ±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
$187 / 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
$29,439
Tax year 2023
Assessed value
$3,585,000
Assessed 2023
Previous assessed
$3,201,000
+12.0% YoY
Effective rate
0.82%
On assessed value
Assessed land
$1,311,500
Assessed improvement
$2,273,500
Land market value
$1,311,500
Improvement market value
$2,273,500
Total market value
$3,585,000
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
Medical Office Space
Use group
MEDICAL BUILDING
Status
For Sale
Year built
1976
Construction
WOOD
Heating
YES
Cooling
NONE
Stories
2
Total area
12,433 SF
Lot
1.21 ac (52,708 SF)
Zoning code
FR
APN
582202100200
UPID
US90-0020901
Jurisdiction
SNOHOMISH
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
FR · Everett, WA
Zoning FR · permitted uses
FR · 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
WAREHOUSE, STORAGE
Est. value
$3.8M
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
1976
Construction
WOOD
Heating
YES
Cooling
Yes
Stories
2
Lot
1.21 ac
Current owner
From public records · entity-resolved
43rd Hoyt Medical Building LLC
Entity
Mailing address
4225 HOYT AVE STE A, EVERETT, WA 98203-2351
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2003
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 21, 2018
—
Hoyt Medical Building LLC
—
Deed
related
$2,500,000 · Peoples Bank
Mar 31, 2003
$2,100,449
43rd Hoyt Medical Building LLC
Everett Family Practice Proper
Grant Deed
$1,680,000 · Cascade Bank
Dec 10, 1999
$395,056
Everett Family Practice Prop
Everett Family Practice Build
Quit Claim Deed
related
$950,000 · Cascade Bank
—
—
Frederick J Kimball
—
Deed Of Trust
related
$178,000 · Individual
—
—
Everett Family Practice Proper
—
Deed Of Trust
related
$75,000 · Cascade 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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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