Hart Center | High Yield Fully Occupied Mixed-Use… — Sale in Everett, WA

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Business
  • Location: Everett, WA 98201

Photos

Hart Center | High Yield Fully Occupied Mixed-Use… — Sale in Everett, WA, photo 1 of 2
Hart Center | High Yield Fully Occupied Mixed-Use… — Sale in Everett, WA, photo 2 of 2

Investment Figures

Cap rate
7.22%

Derived from the asking price and operating figures published for this listing. Informational only — not an appraisal, valuation or financial advice. Verify independently before relying on any figure.

Description

Marcus & Millichap has been selected to exclusively market for sale Hart Center, a 100% occupied, mixed-use property in Downtown Everett, Washington. The property is ~18,453 SF and is comprised of eight ground-floor retail suites and nine apartment units, offering a diversified income stream. Priced at a 7.26% cap rate on current income, the retail leases feature 3% annual rent increases and current market rents support approximately 7% upside on residential renewals and turnover — providing an investor with a high yielding asset and clear near-term NOI growth. Eight of nine residential units have been renovated and are complemented by the building's historic exposed brick. The property is professionally managed with no deferred maintenance, and the management company is eager to continue. Zoned Mixed-Use City Center with development potential up to 25 stories, the property offers exceptional long-term redevelopment optionality. Situated on the signalized hard corner of Rucker Avenue and Hewitt Avenue with 53,000+ VPD in the heart of Downtown Everett's commercial district, the property benefits from excellent visibility and easy access. Within three miles, the population is nearly 53,000, has grown approximately 4% over the past five years, and is projected to grow another 4%, with average household incomes exceeding $114,000. Washington's lack of state income tax further enhances after-tax returns. Investment Highlights: • 100% Occupied Mixed-Use Investment • High Yield Investment with Annual Rent Increases • Near-Term Residential Upside • High Traffic Signalized Hard-Corner Location • Renovated Residential Units and Historical Charm • Well Maintained and Professionally Managed • Flexible Mixed-Use City Center Zoning • Strong Demographics in a Growing Market

Market Context

This mixed use in Everett, WA is listed for sale. It is offered at an approximate 7.2% capitalization rate, a key benchmark for income-producing mixed use assets. Compare it against other mixed use listings for sale in Everett, WA — view the full market.

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