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Property profile & analytics
FOR LEASE
Distribution properties
6611 Associated Blvd, Everett, WA 98203
Entity Owned
6-yr Hold
Free & Clear
Property ID
US90-0404401
For Lease
1 / 4
$15,060,000
6611 Associated Blvd, Everett, WA 98203
View Listing →
Property profile
Verified
Property type
Distribution properties
Use group
COM AUTO TRANS/STORAGE
Year built
2008
Construction
TYPE NOT SPECIFIED
Total area
90,970 SF
Lot
5 ac (217,800 SF)
Zoning code
M-1
APN
28040100303200
UPID
US90-0404401
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
-
LBA Realty Property Management Company
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$11.64M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$9.68M
Blend (final)
Blend
$15.06M
Owner & transaction history
Lit Industrial LP · 6 yrs held
Lit Industrial LP
since 2020
Last sale
$16.3M
4 recorded transactions
Zoning & alternative use
M-1 · Everett, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$18.3M
+62.6%
Restaurant
$13.5M
+20.1%
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
$11,635,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
TRUCK TERMINAL (MOTOR FREIGHT)
$11,225,000
Current use
OFFICE BUILDING
$18,250,000
Change: +63% · Conversion: Difficult
RESTAURANT
$13,475,000
Change: +20% · Conversion: Difficult
AUTO REPAIR, GARAGE
$10,505,000
Change: -6% · Conversion: Difficult
Blend value · Realmo final
$15.06M
Range $13.55M – $16.57M · ±10% · vs last sale $16.29M (Jan 6 2020)
Last sale anchor
$16.29M
Jan 6 2020
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
$166 / 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
$154,368
Tax year 2023
Assessed value
$19,982,300
Assessed 2023
Previous assessed
$16,843,100
+18.6% YoY
Effective rate
0.77%
On assessed value
Assessed land
$3,233,100
Assessed improvement
$16,749,200
Land market value
$3,233,100
Improvement market value
$16,749,200
Total market value
$19,982,300
Applied tax rate
25.0000
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
Distribution properties
Use group
COM AUTO TRANS/STORAGE
Status
For Lease
Year built
2008
Construction
TYPE NOT SPECIFIED
Heating
YES
Cooling
NONE
Stories
2
Total area
90,970 SF
Lot
5 ac (217,800 SF)
Zoning code
M-1
APN
28040100303200
UPID
US90-0404401
Jurisdiction
SNOHOMISH
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
M-1 · Everett, WA
Zoning M-1 · permitted uses
M-1 · 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
TRUCK TERMINAL (MOTOR FREIGHT) Current
Est. value
$11.2M
OFFICE BUILDING
Est. value
$18.3M
RESTAURANT
Est. value
$13.5M
AUTO REPAIR, GARAGE
Est. value
$10.5M
TRUCK TERMINAL (MOTOR FREIGHT) Current
OFFICE BUILDING
RESTAURANT
AUTO REPAIR, GARAGE
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
2008
Construction
TYPE NOT SPECIFIED
Heating
YES
Cooling
Yes
Stories
2
Lot
5 ac
Current owner
From public records · entity-resolved
Lit Industrial LP
Entity
Free & Clear · 6 yrs held
Mailing address
1717 MCKINNEY AVE STE #1900, DALLAS, TX 75202-1253
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2020
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 6, 2020
$16,291,620
Lit Industrial LP
Lba Of Ppf Indl II-associated Ll
Grant Deed
—
Oct 3, 2011
$11,000,000
Lba Of Ppf Industrial II-associat
Lba Realty Fund III-company V
Grant Deed
—
Nov 7, 2008
$92,978
Lba Realty Fund III-co V LLC
Lba Realty Fund III-co Vi LLC
Grant Deed
related
$35,000,000 · Union Bank Of California
Jul 10, 2008
$15,426,753
Lba Realty Fund III-co Vi LLC
Mountain View Pg LLC
Grant Deed
related
—
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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