8421 Evergreen WayEverett, WA 98208

Property Details for 8421 Evergreen Way

Year built

1981

Construction

WOOD

Lot size

0.97 AC

Property size (Sq ft)

19,872 SF

Zone code

C-1

Property type

Hospitality properties

Property subtype

Hotels

APN

28051800201300

APU

28051800201300

Description

The Sunrise Inn, a 66-unit motel located at 8421 Evergreen Way, Everett, WA 98208, presents a compelling investment opportunity. This two-story property, situated on a 42,253 square foot lot in Snohomish County (APN 28051800201300), offers 19,872 square feet of building space. Built in 1981, the motel boasts a strong performance history, generating gross sales of $1,065,553 in 2023. This fee-simple property is priced at $6,700,000 and is ideally positioned in Everett, Washington, a city with significant growth potential. The property's established revenue stream and prime location make it an attractive asset for investors seeking a strong return on investment in the hospitality sector. The Sunrise Inn represents a chance to acquire a well-established business with a proven track record of success in a desirable market. This is a rare opportunity to own a substantial motel in a thriving area with excellent potential for future growth and profitability. Detailed financial information is available upon request.

• CAP approach

  CAP return

  Valuation

  6%

  $6,088,260

  6.5%

  $5,619,932

  7%

  $5,218,508

• Comparable approach

  Method

  Valuation

  Relative Method

  $14,195,309

  Geo Method

  $8,993,332

• Alternative Use

  Use

  Valuation

  Residential

  $6,135,333

  Hospitality

  $5,619,932

  Educational

  $4,675,718

  Medical

  $4,836,522

  Retail

  $7,273,338

Location Insight

City

Everett

County

Snohomish

State

Washington

Latitude

47.9202

Longitude

-122.228

CBSA code

42660

CBSA name

SEATTLE-TACOMA-BELLEVUE, WA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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