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Property profile & analytics
OFF-MARKET
Estimated value
$8,610,000
Retail space
5209 Evergreen Way Everett, WA 98203-3633
Entity Owned
Free & Clear
Property ID
US90-3094314
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1967
Construction
TYPE NOT SPECIFIED
Total area
44,460 SF
Lot
5.52 ac (240,451 SF)
Zoning code
F2
APN
28050600100200
UPID
US90-3094314
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
-
Grocery Outlet Grocery & Convenience Store Food Market
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$8.63M
CAP Approach
CAP
$9.88M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$8.61M
Owner & transaction history
Department Of Enterprise Services
Department Of Enterprise Services
since 2025
Last sale
$8.0M
5 recorded transactions
Zoning & alternative use
F2 · 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
$8,650,000
ML approach
$8,630,000
CAP Approach
CAP Return
Estimation
6%
$10,700,000
6.5%
$9,875,000
7%
$9,170,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$13,735,000
Change: -5% · Conversion: Difficult
Blend value · Realmo final
$8.61M
Range $7.75M – $9.47M · ±10% · vs last sale $7.95M (Nov 22 2023)
Last sale anchor
$7.95M
Nov 22 2023
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
$194 / 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
$91,939
Tax year 2023
Assessed value
$11,194,800
Assessed 2023
Previous assessed
$10,465,800
+7.0% YoY
Effective rate
0.82%
On assessed value
Assessed land
$7,790,500
Assessed improvement
$3,404,300
Land market value
$7,790,500
Improvement market value
$3,404,300
Total market value
$11,194,800
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
1967
Construction
TYPE NOT SPECIFIED
Heating
YES
Cooling
NONE
Buildings
2
Stories
1
Total area
44,460 SF
Lot
5.52 ac (240,451 SF)
Zoning code
F2
APN
28050600100200
UPID
US90-3094314
Jurisdiction
SNOHOMISH
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
F2 · Everett, WA
Zoning F2 · permitted uses
F2 · 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
$13.7M
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
1967
Construction
TYPE NOT SPECIFIED
Heating
YES
Cooling
Yes
Stories
1
Buildings
2
Lot
5.52 ac
Current owner
From public records · entity-resolved
Department Of Enterprise Services
Entity
Free & Clear · 0 yrs held
Mailing address
PO BOX 41468, OLYMPIA, WA 98504-1468
Ownership since
2025
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
Nov 3, 2025
—
Department Of Enterprise Services
Asia First INC
Deed
—
Nov 22, 2023
—
State Of Washington Dept Of Licensi
Asia First INC
Lease
—
Sep 26, 2017
—
Asia First INC
—
Loan Modification
related
$3,974,800 · Wells Fargo Bk
Apr 22, 2002
$7,950,000
Asia First INC
Feuerberg,alfred
Grant Deed
related
$5,600,000 · Rainier Pacific Bank
—
—
Asia First INC
—
Deed Of Trust
related
$5,640,000 · Cathay 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
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