Individually Owned 
For Lease
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906 SE Everett Mall Way, Everett, WA 98208
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Property summary
AI-generated overview
This exceptional office opportunity is located within Everett Mall Office Park III, a prime location boasting excellent access to I-5. The property offers multiple executive office suites ranging in size from 964 square feet to 20,235 square feet, with 8 currently available. The building is undergoing renovations, enhancing its already attractive features. Its convenient location is just 2.5 miles from Paine Field Airport, providing easy access for clients and employees traveling by air. The property's proximity to the Everett Mall offers significant advantages for businesses seeking high visibility and convenient amenities. Ample parking is provided at a generous rate of 4 spaces per 1,000 square feet. Benefit from the expertise of a local ownership team and the on-site presence of a building engineer, ensuring efficient building management and prompt attention to any maintenance needs. This is an ideal location for businesses seeking a prestigious address, convenient amenities, and easy access to major transportation routes. The available suites offer a flexible solution for businesses of various sizes, providing a professional and productive work environment. Contact us today to schedule a viewing and explore the possibilities.
Property profile
Verified
Property type
Office buildings
Use group
PROFESSIONAL BUILDING
Year built
1988
Construction
STEEL FRAME
Total area
115,403 SF
Lot
1.64 ac (71,438 SF)
Zoning code
C1R
APN
28051800308500
UPID
US90-0538485
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Physician
-
Home Health Care Service
-
Construction Company General Contractor
-
Construction Company General Contractor
-
High School
Location
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$17.30M
Owner & transaction history
since 2025
7 recorded transactions
Zoning & alternative use
C1R · Everett, WA
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
Value estimation
Instant AI valuation built from comps, income signals, and proprietary benchmarks. A defensible range, not a single guess.
Unlock the complete Valuation workflow
Full NOI reconstruction, selected comps, alternative-use scenarios, data audit and PDF export.
Full NOI build-up · 6 steps
All 3 comparables with addresses
Sensitivity value band
Source audit · 6 inputs
PDF export
Professional Plan · 30 reports
from $99/month
from $99/month
Summary
1
Valuation conclusion
Included free
Estimated market value
$17.30M
Value range
$15.57M – $19.02M
±10% around blend
Estimated value / SF
$150 / SF
Confidence
Low
3 county-verified comps
Property data
100
Market benchmarks
67
Comparable evidence
30
Income certainty
100
$15.57M
blend $17.30M
$19.02M
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
115,403 SF
Lot area
1.64 ac
Year built
1988
Stories
6
APN
28051800308500
Zoning
C1R
Assessed value
$17,420,000
Annual tax
$143,058
3
Income approach: direct capitalization
Partial preview
Estimated Stabilized NOI, derived from market rent, vacancy and expense benchmarks. Actual property income not reported.
Estimated market rent / SF
Potential gross income
Vacancy allowance
Effective gross income
Benchmark operating expenses
Stabilized NOI
Property tax
$143,058
Selected cap rate
4
Sales comparison
Partial preview
Sales approach indication
$38.69M
Weighted, 3 comps · low confidence
Evidence
3 found · 3 selected
County-verified recorded sales
Comparable
Sale dateSale price$ / SF
7.6 mi away · 149,497 SF
19.2 mi away · 115,555 SF
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$17.30M
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Current market position
Included free
Benchmark
Observed band ($/SF)AverageSubject delta
Submarket 65 sales
$338
-56%
County 197 sales
$357
-58%
Band = middle half (Q1–Q3) of recorded sale $/SF for this use type per geography; the diamond marks the subject at $150/SF. Delta below average reads as headroom. Source: Realmo CRE sales derivatives (county records).
7
Data & methodology
Included free
Building area
County record
Property tax
County record
Assessed value
County record
Zoning designation
County record
Operating expenses
Modeled
Market rent
Market benchmark
Not analyzed due to unavailable source data: actual rent roll, tenant leases, physical condition and capital
requirements are outside a desktop analysis.
Cost Approach excluded: income and sales evidence cover the value conclusion.
Automated valuation analysis, not a licensed appraisal. Figures are derived from public
records and proprietary models. Desktop analysis: no physical inspection, tenant leases or reported
property income. Verify with a licensed appraiser before transacting.
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
Unlock the complete Cap Rate workflow
Full market tables, editable assumptions, comparable evidence, saved work and exports.
9-scenario matrix
Comparable evidence · 3 sales
NOI build-up · 9 steps
Market rates by use type
PDF export
Professional Plan · 30 reports
from $99/month
from $99/month
Overview
No cap rate is computable for this property yet: no recorded sale, income signal or market-rate row for its use type.
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Test a cap rate
Implied value$2.44M
Move the market yield to see immediate price impact.
Value / SF
$21
Vs. selected
Base
Derivation
NOI ÷ cap
Arithmetic over the derived NOI * — not market scenario modeling.
NOI × cap matrix
Preview
Preview of 9 modeled outcomes.
NOI
5.00%7.00%9.00%
$154k
$3.08M
$2.20M
$1.71M
$171k
$3.42M
$2.44M
$1.90M
$188k
$3.76M
$2.68M
$2.09M
NOI sensitivity ±10% across the 5 / 7 / 9% anchors — derivation of the NOI above.
Comparable evidence
Partial preview
Recorded sales nearby
3 found
Low confidence · county-verified
Closest comparable
$45.57M
7.6 mi · Dec 2025 · $305/SF
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$143,058
Tax year 2023
Assessed value
$17,420,000
Assessed 2023
Previous assessed
$13,688,700
+27.3% YoY
Effective rate
0.82%
On assessed value
Assessed land
$2,497,500
Assessed improvement
$14,922,500
Land market value
$2,497,500
Improvement market value
$14,922,500
Total market value
$17,420,000
Applied tax rate
10.0000
Automated cap rate analysis. Based on public records, market benchmarks and proprietary
models. Verify with a licensed professional before transacting.
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Office buildings
Use group
PROFESSIONAL BUILDING
Status
For Lease
Year built
1988
Construction
STEEL FRAME
Heating
YES
Cooling
NONE
Stories
6
Total area
115,403 SF
Lot
1.64 ac (71,438 SF)
Zoning code
C1R
APN
28051800308500
UPID
US90-0538485
Jurisdiction
SNOHOMISH
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
C1R · Everett, WAZoning C1R · permitted uses
C1R · Everett, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Building & site characteristics
From public records
Year built
1988
Construction
STEEL FRAME
Heating
YES
Cooling
Yes
Stories
6
Lot
1.64 ac
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
County-recorded code
C1R
Jurisdiction
Everett, WA
Recorded code
C1R
Zoning Insight
What can be built and operated here — officially.
The district profile from the municipal source: what is on file for C1R in Everett, WA.
What opens after registration
Zoning profile
2 official documentsVerified municipal sources with file download
Match provenanceAssignment basis, match tier and confidence
Private report access
See the official zoning profile for this address.
Registration is required before the official district profile is shown.
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Ownership Intelligence
Find the owner behind the property.
Unlock the evidence behind ownership: portfolio, transactions, debt and signals that help you decide who to contact next.
What opens after registration
Ownership report
Owner identityResolved entity and name variants
Portfolio holdingsLinked properties and estimated value
Deal signalsSell-side activity worth following
Debt & historyRecorded loans and transaction history
Private report access
See the ownership record for this address.
Registration is required before any owner information is shown.
One complete report on every paid plan · 30 · 300 reports per month.
Owner of record and activity signals are derived from public records and modeled classifications.
They do not confirm beneficial ownership or intent to transact.
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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