1503 Pacific AveEverett, WA 98201

Property Details for 1503 Pacific Ave

Year built

1960

Construction

TYPE NOT SPECIFIED

Lot size

0.34 AC

Property size (Sq ft)

4,059 SF

Zone code

F4

Property type

Banks

APN

645171801200

APU

645171801200

Description

This exceptional 3,900 square foot medical office building, situated on a 0.34-acre lot at 1503 Pacific Ave, Everett, WA 98201, presents a unique investment opportunity. Built in 1960, this single-story structure boasts a classic retro design and offers twelve parking spaces. The property is zoned B3 and features a convenient location at the corner of Pacific Avenue and Hoyt Avenue, placing it within walking distance of downtown Everett's vibrant amenities, including restaurants, bars, and the Angel of the Winds Arena. The building's single-tenant occupancy provides stability and ease of management. The property's address is 1503 Pacific Ave, Everett, WA 98201, with APN 006451-718-012-00. Its prime location and unique character make it an ideal space for a variety of medical practices seeking a distinctive and well-situated office. The building's history as a former Greyhound bus depot adds to its charm and character. This property offers a blend of vintage appeal and modern functionality, making it a compelling investment opportunity in a thriving urban setting. The building's single-story design and ample parking further enhance its practicality and appeal. This is a rare chance to acquire a well-located, single-tenant medical office building with significant character and potential.

• CAP approach

  CAP return

  Valuation

  6%

  $1,276,890

  6.5%

  $1,178,670

  7%

  $1,094,480

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,283,180

  Geo Method

  $812,950

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $2,325,400

  Mixed-Use / Specialty

  $1,163,610

  Hospitality / Lodging

  $839,564

  Office

  $1,145,390

  Institutional / Educational

  $1,205,800

  Residential Income

  $1,410,790

  Multifamily

  $1,752,230

  Automotive / Energy

  $1,033,550

  Parking / Income-Based Land

  $367,393

  Restaurant / Food Service

  $582,026

  Healthcare / Senior Housing

  $1,204,400

Location Insight

City

Everett

County

Snohomish

State

Washington

Latitude

47.9768

Longitude

-122.209

CBSA code

42660

CBSA name

SEATTLE-TACOMA-BELLEVUE, WA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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