Description
FLAGSHIP EVERETT 2044 REDEVELOPMENT | MU-7 (2-STORY) | 5.44% CAP. Unparalleled investment opportunity featuring a strategic 2-parcel assemblage in Everett’s premier high-growth corridor. This combined footprint represents a premier "Covered Land Play," delivering immediate cash flow with a stable 5.44% In-Place Cap Rate. VALUE-ADD & STABILITY: With 16 existing units (Retail Storefronts + Apartments), the asset provides strong, steady income to offset carrying costs during the entitlement phase. Rents are currently significantly below market, providing a clear value-add opportunity to immediately increase NOI and yield while pursuing future development.Under utilized basement and storage rooms. THE ASSEMBLAGE ADVANTAGE: This 2-parcel footprint provides the critical depth and scale necessary for institutional-grade mid-rise construction. Unlock maximum unit yield and optimized parking configurations under new TOD mandates. Single-lot sites in this corridor cannot achieve this level of Floor Area Ratio (FAR) potential. EVERETT 2044 VISION: Positioned in the newly adopted MU-7 (Mixed Urban, 7-story) growth corridor. Located on a high-visibility arterial (30k+ VPD) steps from future Sound Transit Light Rail. Capitalize on Everett’s blueprint for density in a submarket primed for transformation. Sold as-is. Buyer to verify all development yield.
-
0BEDS
-
0.27ACRES
-
0BATHS
-
01/2 BATHS
-
11,895SQFT
-
$202$/SQFT
Listing courtesy of Northwest MLS as distributed by MLS GRID. Listing courtesy of KW Everett.
Mortgage Calculator is provided by BoomTown.
Description
FLAGSHIP EVERETT 2044 REDEVELOPMENT | MU-7 (2-STORY) | 5.44% CAP. Unparalleled investment opportunity featuring a strategic 2-parcel assemblage in Everett’s premier high-growth corridor. This combined footprint represents a premier "Covered Land Play," delivering immediate cash flow with a stable 5.44% In-Place Cap Rate. VALUE-ADD & STABILITY: With 16 existing units (Retail Storefronts + Apartments), the asset provides strong, steady income to offset carrying costs during the entitlement phase. Rents are currently significantly below market, providing a clear value-add opportunity to immediately increase NOI and yield while pursuing future development.Under utilized basement and storage rooms. THE ASSEMBLAGE ADVANTAGE: This 2-parcel footprint provides the critical depth and scale necessary for institutional-grade mid-rise construction. Unlock maximum unit yield and optimized parking configurations under new TOD mandates. Single-lot sites in this corridor cannot achieve this level of Floor Area Ratio (FAR) potential. EVERETT 2044 VISION: Positioned in the newly adopted MU-7 (Mixed Urban, 7-story) growth corridor. Located on a high-visibility arterial (30k+ VPD) steps from future Sound Transit Light Rail. Capitalize on Everett’s blueprint for density in a submarket primed for transformation. Sold as-is. Buyer to verify all development yield.
IDX information is provided exclusively for consumers’ personal noncommercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.The listing data relating to real estate for sale on this web site comes in part from the Northwest Multiple Listing Service. Real estate listings held by brokerage firms other than Tri-Cities Realty Group, LLC are marked by the "three tree" symbol; detailed information about such listings includes the names of the listing brokers. The three tree icon refers to an NWMLS listing. Data last updated 2026-03-17T00:14:43.183. The "Days on Site" data field is calculated by BoomTown and is the number of days since the listing was originally received in our system. It is not the equivalent of "Days on Market". Based on information submitted to the MLS GRID as of 2026-03-17T00:14:43.183. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
Digital Millennium Copyright Act