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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    9017 Evergreen Way Everett, WA 98204

    • Retail space
    • 19,556 SF
    • 3.49 lot acres
    For Lease
    View listing
    $12 SF/Yr
    Last Sale
    Jun 07, 2022
    $4,640,000
    Value Estimations
    $4,690,000
    Cap Rate Potential
    5.9%
    Retail space
    Location Intelligence
    Property ID
    US90-1307126
    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

    • Portraits Plus LLC / Photographer / Photo Shop
    • Vision Landscaping, LLC / Paving Contractor / Retaining Wall Supplier

    Property Details for 9017 Evergreen Way

    Year built
    1938
    Construction
    WOOD
    Lot size
    3.49 lot acres
    Property size
    19,556 SF
    Zone code
    F6
    Property type
    Retail space
    APN
    392300001103
    APU
    392300001103

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $4,770,000
      ML approach
      $4,715,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $4,705,000
      6.5%
      $4,345,000
      7%
      $4,035,000

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $6,345,000
      Current use
      MEDICAL BUILDING
      $7,290,000
      Change: +15% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $6,880,000
      Change: +8% Conversion: Difficult
      OFFICE BUILDING
      $6,605,000
      Change: +4% Conversion: Easy
      WAREHOUSE, STORAGE
      $6,040,000
      Change: -5% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Everett
    County
    Snohomish
    State
    Washington
    Longitude
    -122.233
    Latitude
    47.9151
    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
    $48,206
    $4,825,300
    $1,413,900
    $6,239,200
    -
    $4,825,300
    $1,413,900
    $6,239,200

    Comparable in this City

    • Value Estimation
      $5,735,000
      3,120 SF

      11323 Hwy 99

      RETAIL STORES (PERSONAL SERVICES) • 3,120 SF
      11323 Hwy 99, Everett, WA 98204-4816
      View Details
    • Value Estimation
      $2,505,000
      13,689 SF

      717 128th SW St

      RETAIL STORES (PERSONAL SERVICES) • 13,689 SF
      717 128th SW St, Everett, WA 98204-9390
      View Details
    • Value Estimation
      $3,385,000
      3,403 SF

      2130 132nd SW St

      RETAIL STORES (PERSONAL SERVICES) • 3,403 SF
      2130 132nd SW St, Everett, WA 98204-6251
      View Details
    • Value Estimation
      $5,045,000
      25,508 SF

      510 Casino Rd

      RETAIL STORES (PERSONAL SERVICES) • 25,508 SF
      510 Casino Rd, Everett, WA 98204-1626
      View Details
    • Value Estimation
      $3,295,000
      20,182 SF

      520 128th SW St

      RETAIL STORES (PERSONAL SERVICES) • 20,182 SF
      520 128th SW St, Everett, WA 98204-9362
      View Details
    • Value Estimation
      $2,860,000
      11,528 SF

      11120 Evergreen Way

      RETAIL STORES (PERSONAL SERVICES) • 11,528 SF
      11120 Evergreen Way, Everett, WA 98204-3888
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      143,364 SF

      Prime Everett Retail Space

      143,364 SF Grocery Store, High Traffic
      11400 Highway 99, Everett, WA 98204
      View Details
    • $665,000
      1,828 SF

      Commercial Property Near Airport

      Commercial property with long-term tenant near Boeing and Highway 99.
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      Development-Ready Pad Site in Everett

      2.08-acre pad site in a thriving retail hub.
      1602 Center Rd, Everett, WA 98204
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    • $114,000

      Bakery Opportunity on Evergreen Way

      Turnkey bakery ready for new owner in high-traffic location.
      9629 Evergreen Way Way, Everett, WA 98204
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    • $2,200,000
      10,500 SF

      Everett NAPA Auto Parts Investment

      Single-tenant NAPA Auto Parts property in Everett, WA for sale.
      9423 Evergreen Way, Everett, WA 98204
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    • Contact for pricing
      8,960 SF

      Auto Salvage Business Opportunity

      Operating auto salvage business with redevelopment potential in Everett, WA.
      13311 Highway 99 S, Everett, WA 98204
      View Details

    Similar Nearby for Lease

    • $22 SF/Yr
      1,106 SF

      Retail Space in Everett Mall

      Retail space available for lease in Everett, Washington.
      210 SW Everett Mall Way, Everett, WA 98204
      View Details
    • $12 SF/Yr
      15,000 SF

      Evergreen Way Retail Showroom Space

      Large retail/showroom space with high ceilings and abundant parking.
      9017 Evergreen Way, Everett, WA 98204
      View Details
    • $12 SF/Yr
      6,075 SF

      Highway 99 Retail and Warehouse

      Retail and warehouse space with fenced yard available for lease.
      13220 Highway 99 S, Everett, WA 98204
      View Details
    • Contact for pricing
      1,230 SF

      Retail Space in Busy Center

      Retail space in high-traffic, Albertsons-anchored shopping center.
      520 128Th St SW, Everett, WA 98204
      View Details
    • $29 SF/Yr
      1,400 SF

      Retail Space Near Everett Mall

      Sublease retail space with high visibility and flexible options.
      530 SW Everett Mall Way, Everett, WA 98204
      View Details
    • $29 SF/Yr
      2,362 SF

      Retail Space with Exam Rooms

      Former optometry space featuring multiple exam rooms, ready for occupancy.
      15 SW Everett Mall Way, Everett, WA 98204
      View Details
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    Everett, WA 98204
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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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