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    Property profile & analytics

    7124 Evergreen Way Everett, WA 98203-5156

    • Auto shops
    • 1,100 SF
    • 0.50 lot acres
    OFF-MARKET
    Value Estimations
    $275,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US90-0667930
    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

    • Quick motor inc / Car Dealer / Car Detailing Service
    • Royal Auto Repair INC. / Mechanic
    • Legend Auto Repair / Auto Repair Shop / Auto Radiator Repair Service

    Property Details for 7124 Evergreen Way

    Year built
    1960
    Construction
    TYPE NOT SPECIFIED
    Lot size
    0.50 lot acres
    Property size
    1,100 SF
    Zone code
    B-2
    Property type
    Auto shops
    APN
    28050700201600
    APU
    28050700201600

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $280,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $234,000
      Market price range: $55.0k - $234k

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

    Location Insight

    • Map
    • Local Demand
    City
    Everett
    County
    Snohomish
    State
    Washington
    Longitude
    -122.22
    Latitude
    47.9334
    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
    $6,989
    $817,400
    $28,300
    $845,700
    -
    $817,400
    $28,300
    $845,700

    Comparable in this City

    • Value Estimation
      $305,000
      6,345 SF

      6624 Evergreen Way

      AUTO REPAIR, GARAGE • 6,345 SF
      6624 Evergreen Way, Everett, WA 98203-4526
      View Details
    • Value Estimation
      $350,000
      8,720 SF

      7202 Evergreen Way

      AUTO REPAIR, GARAGE • 8,720 SF
      7202 Evergreen Way, Everett, WA 98203-5661
      View Details
    • Value Estimation
      $330,000
      6,661 SF

      4805 Evergreen Way

      AUTO REPAIR, GARAGE • 6,661 SF
      4805 Evergreen Way, Everett, WA 98203-2830
      View Details
    • Value Estimation
      $305,000
      5,100 SF

      8215 Broadway

      AUTO REPAIR, GARAGE • 5,100 SF
      8215 Broadway, Everett, WA 98203-6853
      View Details
    • Value Estimation
      $300,000
      1,248 SF

      5632 Evergreen Way

      AUTO REPAIR, GARAGE • 1,248 SF
      5632 Evergreen Way, Everett, WA 98203-3628
      View Details
    • Value Estimation
      $315,000
      5,246 SF

      6324 Evergreen Way

      AUTO REPAIR, GARAGE • 5,246 SF
      6324 Evergreen Way, Everett, WA 98203
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      47,511 SF

      Freestanding Building on Evergreen Way

      47,511 SF building on 3.71 acres with high visibility.
      6727 Evergreen Way, Everett, WA 98203
      View Details
    • $998,000

      Mixed-Use Asset in Everett Core

      Mixed-use property with development potential in a revitalizing urban area.
      2011 Madison St, Everett, WA 98203
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    • Contact for pricing
      70,935 SF

      Grocery Anchored Retail Center

      Grocery anchored shopping center in a busy Everett location.
      5305 Evergreen Way, Everett, WA 98203
      View Details
    • $500,000
      1,872 SF

      Free-Standing Building on Large Lot

      Versatile building with excellent visibility and convenient access to I-5.
      4601 Elm St, Everett, WA 98203
      View Details
    • $1,449,000
      2,923 SF

      Everett Commercial Property with Upside

      Two-parcel commercial property in high-traffic area with investment potential.
      6915 Evergreen Way, Everett, WA 98203
      View Details
    • Contact for pricing
      14,350 SF

      Everett Warehouse Space Available

      Warehouse space for sublease with convenient access to major routes.
      1106 Shuksan Way, Everett, WA 98203
      View Details

    Similar Nearby for Lease

    • $12 SF/Yr
      1,200 SF

      Everett Retail Space Available

      Retail space for lease in Everett with open floorplan.
      7207 Evergreen Way, Everett, WA 98203
      View Details
    • $17 SF/Yr
      6,443 SF

      Everett Retail Space For Lease

      Large, renovated retail space in grocery-anchored center on Evergreen Way.
      5305-5307 Evergreen Way, Everett, WA 98203
      View Details
    • $27 SF/Yr
      1,211 SF

      Everett Retail Space For Lease

      Retail space available in Safeway anchored shopping center.
      7601 Evergreen Way, Everett, WA 98203
      View Details
    • Contact for pricing
      30,000 SF

      Everett Retail Space Available

      30000 SF retail property in Everett, WA.
      4920 Evergreen Way, Everett, WA 98203
      View Details
    • $3,499,950
      6,000 SF

      Everett Retail/Office Stand-Alone Building

      Stand-alone building with a mix of offices and open area.
      5920-5930 Evergreen Way, Everett, WA 98203
      View Details
    • Contact for pricing
      78,317 SF

      Industrial Property in Everett, WA

      Industrial property available for rent in Everett, Washington.
      5900 36Th Ave W, Everett, WA 98203
      View Details
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    7124 Evergreen Way
    Everett, WA 98203-5156
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    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
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