6325 Evergreen Way Everett, WA 98203
11,761 Sq. Ft., 0.27 acres lot size / Industrial
Status: Active
Listing Courtesy of: Aaron Byrne - KW Everett +1 425 212 2007
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PRICE ADJUSTMENT - EVERETT 2044 REDEVELOPMENT | MU-7 (7-STORY) | 6.00% CAP RATE A rare 2-parcel assemblage in Everett's highest-velocity growth corridor - offered at $2,30,000 ($2,090,000 main building + $210,000 development parcel). This combined footprint is a textbook Covered Land Play: bankable cash flow today, transformational upside tomorrow. CASH FLOW + VALUE-ADD: 16 existing units - retail storefronts and apartments - deliver a proven 6.00% in-place cap rate at $2,090,000 against the main parcel. Rents sit materially below market, creating an immediate path to compress that gap and drive NOI higher from day one. Underutilized basement and storage areas represent untapped income with minimal capital outlay. THE ASSEMBLAGE ADVANTAGE: Two parcels deliver the depth and scale single-lot sites simply cannot replicate. The development parcel alone represents significant value at $310,000 for a 3,000 SF lot in this corridor. Unlock maximum Floor Area Ratio, optimized parking configurations, and institutional-grade mid-rise construction potential under Everett's new TOD mandates. This footprint is purpose-built for what's coming. EVERETT 2044 VISION: Zoned MU-7 (Mixed Urban, 7-Story) in Everett's designated high-density growth corridor. Positioned on a high-visibility arterial with 30,000+ VPD, steps from the future Sound Transit Light Rail station. The city's blueprint for density is written - this parcel is inside it.
property details
Type
Industrial
Status
Active
County
Snohomish
Year Built
1968
Lot Size
11,761 Sq. Ft., 0.3 acres
Listing Id
2475831
Courtesy Of
Aaron Byrne - KW Everett +1 425 212 2007
List Office Phone
+1 425 212 2007
Subdivision
Evergreen
Exterior Features
Roof
Built Up
Lot/Land Description
Level
Parking Spaces
14
Utility & Building Info
Parcel Number
00392900401200
Water Source
Public Water
Heating
Electric Heating
None
None
Tax Amount
11541
Architectural Style
Other
Based on information submitted to the MLS GRID as of 6/3/2026 12:00:00 AM (date and time MLS GRID Data was obtained). 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.
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, that the data is deemed reliable but is not guaranteed by MLS GRID
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Price History
| date | event | price | source |
|---|---|---|---|
|
05/06/2026
05/06/2026
|
Active |
$2,300,000
|
NWMLS - Northwest MLS - Seattle |
|
02/10/2026
02/10/2026
|
Active |
$2,400,000
|
NWMLS - Northwest MLS - Seattle |
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Market Trends
Source: Constellation1
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