Bought with Windermere Real Estate M2 LLC
$7,000,000
$7,400,000
5.4%For more information regarding the value of a property, please contact us for a free consultation.
620 SE Everett Mall WAY Everett, WA 98208
5.34 Acres Lot
Key Details
Sold Price $7,000,000
Property Type Commercial
Sub Type Commercial Industrial
Listing Status Sold
Purchase Type For Sale
Subdivision Everett Mall
MLS Listing ID 1794703
Sold Date 12/01/21
Style 75 - Retail
Year Built 1985
Annual Tax Amount $105,464
Lot Size 5.340 Acres
Property Description
Attractive retail center located on the corner of Everett Mall Way and 7th Avenue SE which provide 40,550+ and 9,500+ VPD traffic counts respectively. The 3 retail buildings provide 52,057 NRSF with plentiful parking. The 232,610 SF site is zoned B (Business) a dense zoning allowing for up to 7 – 9 floors and includes mixed use (multifamily). The property was built in phases between 1985 and 1987 and is fully occupied. There is substantial rental upside on lease renewal by bringing rents to market and also charging triple nets. This center historically is quite stable with the most recent tenant moving in 5 years ago and the average tenant moving in 10 years ago. 7th Avenue Plaza provides lots of upside and very little downside.
Location
State WA
County Snohomish
Area 740 - Everett/Mukilteo
Interior
Interior Features Forced Air
Fireplace false
Exterior
Exterior Feature Cement/Concrete, Metal/Vinyl, Stone
Utilities Available Sewer Connected, Electricity Available
Roof Type Flat
Building
Sewer Sewer Connected
Water Public
Others
Senior Community No
Acceptable Financing Cash Out
Listing Terms Cash Out
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