2811 Virginia AveEverett, WA 98201

Property Details for 2811 Virginia Ave

Year built

1945

Construction

WOOD

Lot size

0.15 AC

Property size (Sq ft)

5,300 SF

Zone code

C-1

Property type

Outlet malls

APN

437865901200

APU

437865901200

Description

This exceptional industrial property, located at 2811-2815 Virginia Ave in Everett, WA, presents a compelling value-add investment or owner-user opportunity. Comprising three buildings totaling 15,769 square feet of net rentable space on a 26,572 square foot lot, this property offers significant versatility. Built between 1940 and 1967, the buildings feature 15-foot ceilings and three loading docks, enhancing operational efficiency. The property includes approximately 6,500 square feet of open, graveled yard space, providing ample room for storage or maneuvering. The zoning is MU, allowing for a range of uses. The property is currently vacant, presenting an immediate opportunity for lease-up or owner-occupancy. Located in a prime Everett location, this asset benefits from excellent access to major transportation arteries, including I-5 and Highway 2, as well as the Port of Everett. The asking price is $1,850,000, translating to $117.12 per square foot and $69.62 per square foot for the land. The property's strategic location within a low-vacancy submarket, coupled with its versatile composition and strong demographics, makes it an attractive investment prospect with high barriers to entry. This property is ideal for businesses seeking a well-positioned, adaptable industrial space in a thriving market. The property includes multiple 1 & 2-ton cranes and a showroom with two south-facing sliding glass doors. Three separate tax parcels (APN: 00437865901400/00437865901200/00437865903000/00437865902800) comprise the site.

• CAP approach

  CAP return

  Valuation

  6%

  $1,667,290

  6.5%

  $1,539,040

  7%

  $1,429,110

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,675,500

  Geo Method

  $1,061,500

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $3,036,360

  Mixed-Use / Specialty

  $1,519,370

  Hospitality / Lodging

  $1,096,250

  Office

  $1,495,580

  Institutional / Educational

  $1,574,470

  Residential Income

  $1,842,130

  Multifamily

  $2,287,960

  Automotive / Energy

  $1,349,540

  Parking / Income-Based Land

  $479,720

  Restaurant / Food Service

  $759,974

  Healthcare / Senior Housing

  $1,572,630

Location Insight

City

Everett

County

Snohomish

State

Washington

Latitude

47.98

Longitude

-122.197

CBSA code

42660

CBSA name

SEATTLE-TACOMA-BELLEVUE, WA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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