118 SE Everett Mall Way, Everett, WA 98204

$2,125,000

Listing courtesy of KW Everett. Selling Office: ZNonMember-Office-MLS.

Sold Price
$2,125,000
List Price
$2,100,000
Status
SOLD
MLS#
1878273
Closing Date
Feb 25, 2022
Days on Market
11

Property Description

ABSOLUTE NET LEASE, Sale-Leaseback Opportunity w/6% Cap Rate. Year 1 NOI of $126K annually + 2% annual increases. Tenant pays 100% of property expenses directly. Fully renovated in 2021, this building has been transformed into a modern, professional office space providing open workspaces for collaboration. Two private offices, one large conference room, and a large presentation room featuring a wall-to-wall sliding glass door system. Two bathrooms, a full kitchen, and utility room complete the space. Sale includes two adjoining parcels to the south, one fully fenced for secure storage & parking. Zoned C-1 general commercial provides redevelopment ability in the future, or retain the office & develop the two remaining lots.

Additional Information

Community
Everett Mall
Style
60 - Comm Bldg Und 10K
Year Built
1982
Roof
Composition
Potential Terms
Cash Out, Conventional
Interior Features
Forced Air
Flooring
Vinyl Plank
Driving Directions
From I-5 take exit to HWY 99. Go west, property on south side of road.
Energy Source
Electric
Net Operating Income
$126,000
Gross Scheduled Income
$126,000
Cap Rate
6
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