3532 BroadwayEverett, WA 98201

Property Details for 3532 Broadway

Year built

1984

Construction

CONCRETE

Lot size

0.24 AC

Property size (Sq ft)

2,400 SF

Zone code

BMU

Property type

Turn key restaurants

APN

437385701701

APU

437385701701

Description

This exceptional investment opportunity presents a fee-simple ownership of a thriving convenience store and gas station located at 3532 Broadway, Everett, WA 98201, within the Seattle MSA. The property boasts a 2,399 square foot building situated on a 0.55-acre lot. Currently operating under a 20-year absolute NNN lease with United Pacific | Apro, LLC, a corporate guarantor, the lease commenced July 1, 2015, and expires June 30, 2035, leaving a substantial 10.6 years remaining. The lease includes attractive 7.5% rent bumps every five years and three 5-year lease options. The property generates a strong net operating income (NOI) of $115,809, resulting in a compelling 5.50% cap rate. The property benefits from its location on a main retail thoroughfare with approximately 192,000 vehicles passing daily, providing excellent visibility and accessibility. Its proximity to I-5 and a minor league baseball stadium further enhances its strategic position within a top metropolitan statistical area (MSA). This is a truly passive investment opportunity with zero landlord responsibilities, offering significant long-term value and potential for appreciation in a tax-free state. The asking price is $2,110,000. 100% occupancy ensures consistent cash flow.

• CAP approach

  CAP return

  Valuation

  6%

  $951,624

  6.5%

  $878,422

  7%

  $815,678

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,838,430

  Geo Method

  $1,164,724

• Alternative Use

  Use

  Valuation

  Residential

  $740,982

  Hospitality

  $678,736

  Educational

  $564,700

  Medical

  $584,121

  Retail

  $878,422

Location Insight

City

Everett

County

Snohomish

State

Washington

Latitude

47.9703

Longitude

-122.202

CBSA code

42660

CBSA name

SEATTLE-TACOMA-BELLEVUE, WA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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