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    906 Southeast Everett Mall Way Everett, WA 98208
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    Property profile & analytics

    906 Southeast Everett Mall Way, Everett, WA 98208

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    • Office buildings
    • 115,403 SF
    • 1.64 lot acres
    For Lease
    $17,295,000
    View Listing →
    Everett Office and Retail Space For Lease
    $17,295,000
    110,333 SF

    Everett Office and Retail Space

    Office and retail space available near Paine Field Airport.

    906 Southeast Everett Mall Way, Everett, WA 98208
    View Listing
    Property ID
    US90-0538485
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Danielle Jones / Physician
    • Consumer Direct Care Network Washington (CDWA) / Home Health Care Service
    • SimplBuild / Construction Company / General Contractor
    • Bolt Construction, LLC / Construction Company / General Contractor
    • ChildStrive (formerly Little Red School House) / High School

    Property Details for 906 Southeast Everett Mall Way

    Year built
    1988
    Construction
    STEEL FRAME
    Lot size
    1.64 lot acres
    Zone code
    C1R
    Property type
    Office buildings
    APN
    28051800308500
    APU
    28051800308500

    Description

    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.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Everett
    County
    Snohomish
    State
    Washington
    Longitude
    -122.22
    Latitude
    47.9093
    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
    $143,058
    $2,497,500
    $14,922,500
    $17,420,000
    -
    $2,497,500
    $14,922,500
    $17,420,000

    Comparable in this City

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      8625 Evergreen Way

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      111 Everett Mall Wayc

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      17,213 SF

      9121 Merchant Way

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    • Value Estimation
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      500 Everett Mall Way

      PROFESSIONAL BUILDING
      500 Everett Mall Way, Everett, WA 98208-8110
      View Details
    • Value Estimation
      $1,765,000
      7,200 SF

      1710 100th SE Pl

      PROFESSIONAL BUILDING
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    Similar Nearby for Lease

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      11,424 SF

      Everett Office Space For Lease

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    • Contact for pricing

      Everett Office and Retail Space

      Office and retail space available near Paine Field Airport.
      906 Southeast Everett Mall Way, Everett, WA 98208
      View Details
    • $35,928
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      Everett Office Building For Lease

      Three-story office building with ample parking and convenient highway access.
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      16,582 SF

      Everett Office Building For Lease

      Three-story office building with convenient I-5 access for lease.
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      Everett Office Building For Lease

      Three-story office building with convenient access to Interstate 5.
      125 130Th St SE, Everett, WA 98208
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    • $26 SF/Yr

      Everett Medical Office Building

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    View Listing
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    Everett, WA 98208
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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.

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