1503 Pacific AveEverett, WA 98201

  • Retail properties
  • 4,059 SF
For Lease

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
Retail properties
Property subtype
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.

Valuation
by Paperhouses methods

Valuation date:
Dec 11, 2024
  • CAP approach

    CAP return
    Valuation
    6%
    $1,609,435
    6.5%
    $1,485,632
    7%
    $1,379,516
  • Comparable approach

    Method
    Valuation
    Relative Method
    $3,109,245
    Geo Method
    $1,969,839
  • Alternative Use

    Use
    Valuation
    Residential
    $1,253,186
    Hospitality
    $1,147,912
    Educational
    $955,049
    Medical
    $987,895
    Retail
    $1,485,632
1503 Pacific Ave, Everett, Washington

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

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
$8,663
$641,600
$413,400
$1,055,000
-
$641,600
$413,400
$1,055,000

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