Development Potential. Zoned MU15 under the Everett Unified Development Code, permitting development up to 15 floors / 160 feet (EMC 19.22.020, Table 22-1) — exceeded only by the MU25 core. Everett is projected to add roughly 60,000 residents over the next two decades, and the Metro Everett subarea plan targets Downtown Everett for the bulk of that growth. This is a mixed-use development site positioned for multifamily, hotel, office, or ground-floor retail on the Broadway corridor. Income in Place. Two buildings on 6098 SF lot, generate dual-stream rental income — a street-front retail tenant plus a residential apartment at the rear — producing $68,700 in total annual income against $11,953 in expenses, for an NOI of $56,747 (4.73% cap rate) That income allows an incoming investor or developer to offset carrying costs and maintain consistent cash flow while finalizing architectural plans, engineering, and municipal approvals — rather than paying to sit on vacant dirt. Location. Broadway is one of Everett's principal north-south commercial corridors, minutes from Everett Station — Snohomish County's hub for Sounder commuter rail and Amtrak — with direct I-5 access and Downtown Everett's civic and employment core close at hand. Building signage on Broadway. Possession at close of escrow.

Courtesy of NWMLS
Listing courtesy of Dennis Wagner of Downtown Dennis Real Estate



Listing information is provided by Participants of the Northwest MLS. IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed. Copyright 2026, Northwest MLS.
All data is obtained from various sources and may not have been verified by the 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.
Last checked: 2026-09-09 11:37 PM PDT