Property Details

3202 McDougall Ave

Everett, WA 98201

$6,950,000

Available

CBA# 707119 courtesy of CBA Listing firm: Marcus & Millichap, Inc.

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I’d like more information about 3202 McDougall Ave, Everett, MLS# 707119

Industrial

Property Type

43,334

Bldg Sq Ft

1955

Year Built

Property Overview

For sale a compelling Owner-User or Value-Add investment opportunity in Everett, Washington. The Property is currently occupied by two major tenants, each with lease provisions allowing termination on 180 days’ notice, providing a future owner with exceptional flexibility to maintain existing income, reposition the asset, or ultimately occupy the building as an owner-user. Offered at $165/SF, the Property presents a compelling entry point relative to replacement cost and comparable Everett assets. The offering reflects a 5.55% going-in cap rate, increasing to a 6.30% true in-place cap rate beginning January 1, 2027. Additionally, current rents of approximately $9.72/SF remain well below estimated market rents of approximately $12–$14/SF, providing embedded rent growth and supporting long-t