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Property profile & analytics
OFF-MARKET
Estimated value
$41,770,000
Warehouses
7301 Hardeson Rd Everett, WA 98203-5839
Entity Owned
3-yr Hold
Free & Clear
Property ID
US90-2827284
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
2018
Construction
CONCRETE
Total area
122,952 SF
Lot
10.47 ac (456,073 SF)
APN
28040100304000
UPID
US90-2827284
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
-
FedEx Ship Center Courier Service Postal Service
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$47.45M
Blend (final)
Blend
$41.77M
Owner & transaction history
Midway Logistics Center LLC · 3 yrs held
Midway Logistics Center LLC
since 2022
Last sale
$39.5M
4 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Apartment house (5+ units)
$62.0M
+63.2%
Restaurant
$58.0M
+52.6%
Medical building
$45.8M
+20.6%
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
$40,625,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$37,990,000
Current use
APARTMENT HOUSE (5+ UNITS)
$61,985,000
Change: +63% · Conversion: Difficult
RESTAURANT
$57,955,000
Change: +53% · Conversion: Difficult
MEDICAL BUILDING
$45,820,000
Change: +21% · Conversion: Difficult
AUTO REPAIR, GARAGE
$43,255,000
Change: +14% · Conversion: Easy
OFFICE BUILDING
$41,540,000
Change: +9% · Conversion: Difficult
RETAIL STORES
$39,905,000
Change: +5% · Conversion: Moderate
Blend value · Realmo final
$41.77M
Range $37.59M – $45.95M · ±10% · vs last sale $39.50M (Dec 29 2022)
Last sale anchor
$39.50M
Dec 29 2022
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
$340 / 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
$172,503
Tax year 2023
Assessed value
$22,330,000
Assessed 2023
Previous assessed
$20,002,400
+11.6% YoY
Effective rate
0.77%
On assessed value
Assessed land
$4,409,700
Assessed improvement
$17,920,300
Land market value
$4,409,700
Improvement market value
$17,920,300
Total market value
$22,330,000
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
2018
Construction
CONCRETE
Heating
YES
Cooling
NONE
Stories
1
Total area
122,952 SF
Lot
10.47 ac (456,073 SF)
APN
28040100304000
UPID
US90-2827284
Jurisdiction
SNOHOMISH
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$38.0M
APARTMENT HOUSE (5+ UNITS)
Est. value
$62.0M
RESTAURANT
Est. value
$58.0M
MEDICAL BUILDING
Est. value
$45.8M
AUTO REPAIR, GARAGE
Est. value
$43.3M
OFFICE BUILDING
Est. value
$41.5M
RETAIL STORES
Est. value
$39.9M
WAREHOUSE, STORAGE Current
APARTMENT HOUSE (5+ UNITS)
RESTAURANT
MEDICAL BUILDING
AUTO REPAIR, GARAGE
OFFICE BUILDING
RETAIL STORES
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
2018
Construction
CONCRETE
Heating
YES
Cooling
Yes
Stories
1
Lot
10.47 ac
Current owner
From public records · entity-resolved
Midway Logistics Center LLC
Entity
Free & Clear · 3 yrs held
Mailing address
PO BOX 7TH 7, NOVATO, CA 94948-0007
Ownership since
2022
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
Jul 1, 2025
—
Midway Logistics Center LLC
—
Deed
related
$17,150,000 · Cmfg Life Insurance Co
Dec 29, 2022
$39,500,000
Midway Logistics Center LLC
Underwood Gartland Johnson 63 LLC
Warranty Deed
—
Oct 1, 2018
—
Underwood Gartland Johnson 63
—
Deed
related
$19,500,000 · Miscellaneous Ins Co
—
—
Underwood Gartland Johnson 63
—
Deed Of Trust
related
$19,500,000 · Miscellaneous Ins Co
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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