Value-Add SRO and Fully Occupied Retail
3 Retail Properties | Online Auction Sale | Everett, WA
For Sale
Active
- Date Added:
- May 17, 2024
- Days on Market:
- 28 days
- Property Type
-
Retail
Listing Contacts
Aaron Zehm
Verified Profile
Carlos Silguero
Verified Profile
- Property Info
Property Overview
2912-2920 Hewitt Avenue presents an income-producing mixed-use asset with 43 single-room occupancy residential (SRO) units and six ground-floor commercial retail suites in a high-density residential area of Everett, Washington.
The opportunity spans a total of 28,494 square feet on 0.48 acres with urban mixed-use zoning, originally built in 1896 and renovated in 2021. The ground-floor units provide 14,860 square feet of retail space equipped with glass storefronts visible from the signalized intersection of Hewitt Avenue and Maple Street. The commercial suites are fully occupied, presenting an investor with stable returns. The current tenant mix includes an escape room, a pet store, and a recovery services provider.
The property's residential units total 11,656 square feet and offer a stable revenue source due to the highly optimized nature of the local multifamily submarket. Demand has consistently kept pace with new inventory, and all asset classes have posted positive rent growth year over year.
2912-2920 Hewitt Avenue enjoys prime placement on the main corridor of downtown Everett, visible to over 26,000 passing vehicles each day at the intersection with Maple Street. Additionally, more than 130,000 vehicles pass by the location daily on nearby Interstate 5. Beyond the walkable streets and popular restaurants downtown, residents love the property’s proximity to Everett’s main employment centers. Thanks to its convenient interstate access, the property affords residents quick and easy commutes to the Boeing Factory/Paine Field, Naval Station Everett, the Riverside Business Park, and Providence Regional Medical Center. Additional public transportation options connect to the greater metro area through the nearby Everett Transit Center.
Enhance any investment portfolio with the acquisition of a performing mixed-use asset in a prime location with additional operational upside at 2912-2920 Hewitt Avenue.
The opportunity spans a total of 28,494 square feet on 0.48 acres with urban mixed-use zoning, originally built in 1896 and renovated in 2021. The ground-floor units provide 14,860 square feet of retail space equipped with glass storefronts visible from the signalized intersection of Hewitt Avenue and Maple Street. The commercial suites are fully occupied, presenting an investor with stable returns. The current tenant mix includes an escape room, a pet store, and a recovery services provider.
The property's residential units total 11,656 square feet and offer a stable revenue source due to the highly optimized nature of the local multifamily submarket. Demand has consistently kept pace with new inventory, and all asset classes have posted positive rent growth year over year.
2912-2920 Hewitt Avenue enjoys prime placement on the main corridor of downtown Everett, visible to over 26,000 passing vehicles each day at the intersection with Maple Street. Additionally, more than 130,000 vehicles pass by the location daily on nearby Interstate 5. Beyond the walkable streets and popular restaurants downtown, residents love the property’s proximity to Everett’s main employment centers. Thanks to its convenient interstate access, the property affords residents quick and easy commutes to the Boeing Factory/Paine Field, Naval Station Everett, the Riverside Business Park, and Providence Regional Medical Center. Additional public transportation options connect to the greater metro area through the nearby Everett Transit Center.
Enhance any investment portfolio with the acquisition of a performing mixed-use asset in a prime location with additional operational upside at 2912-2920 Hewitt Avenue.
Highlights
- This income-producing, mixed-use facility includes 43 single-room occupancy residential units and six fully occupied ground-floor commercial suites.
- This assembly includes four parcels directly north of Kaiser Permanente with visibility to over 130,000 passing vehicles daily on I-5.
- Prime corner location just off I-5 is convenient to major employers such as Boeing, the Naval Station, and Providence Regional Medical Center.
- Convenience to Everett Transit Center attracts tenants seeking accessible public transportation options.
- Growing 5-mile population of more than 128,000 has increased by over 12% since 2010 and delivered spending of over $1.7 billion during 2023.
Nearby Properties
FAQ
- How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?
- Please email our support team at [email protected] and they will add the team member.
- How do I access a private listing?
- Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.
- How can I contact the broker
- We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
- What is the difference between Tier 1 & Tier 2 in the Due Diligence Vault?
- Documents that are placed in a Tier-1 Due Diligence vault require the execution of a Confidentiality Agreement (“CA”) for access. Documents and folders placed in the Tier-2 vault are intended to have an added layer of security and require the execution of a CA in addition to required Broker approval for access.
- How do I unsubscribe from emails?
- At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].