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.
Listing Provided Courtesy of Aaron Byrne, KW Everett
General Information
NWM2475831
Commercial Industrial
10
DOM
0.27 acres
0
1968
Commerc
Snohomish
Commercial Sale
Commercial Industrial
Listing Provided Courtesy of Aaron Byrne, KW Everett
Krishna Realty data last checked: Feb 22, 2026 16:13 | Listing last modified Feb 20, 2026 19:16,
Source:
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.
