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3816 Smith Ave 25,836 SF Specialty Building Offered at $3,900,000 at a 7.20% Cap Rate in Everett, WA 98201
Investment Highlights
- Established self-storage facility operating within the Everett market.
- Positioned within a mature urban environment serving both residential and commercial storage demand.
- Opportunity Zone location may provide qualifying investors with potential tax advantages.
- Centrally located with access to Interstate 5, downtown Everett, and regional transportation routes.
- Offered as part of an Everett self-storage investment portfolio.
- Located within Snohomish County, one of the principal employment and population centers in Washington State.
Executive Summary
Springer Real Estate is pleased to present 3816 Smith Avenue, a 150-unit self-storage facility in Everett, WA. The professionally managed property comprises approximately 25,836 rentable square feet across four metal structures on a 1.01-acre site and is currently 53% leased in active lease-up as of May 2026.
The facility produces in-place income today with meaningful upside as occupancy climbs toward stabilization. Current annualized net income is approximately $82,581. At stabilized occupancy, net operating income is projected at approximately $280,708 based on current existing-tenant rental rates, representing a 7.20% stabilized cap rate at the $3,900,000 asking price.
Positioned near Interstate 5 with direct freeway access, the property sits in a supply-constrained Everett market near the Port Gardner waterfront and redevelopment district. Everett is Snohomish County’s second-largest city with a 2024 population above 116,700 and is anchored by major employers including Boeing.
Highlights:
150 units across four professionally managed metal structures
53% leased with significant lease-up upside toward stabilization
Approximately 25,836 rentable SF on a 1.01-acre site
$280,708 projected stabilized NOI
7.20% stabilized cap rate at asking price
2021 environmental report with no evidence of REC
Fencing and security cameras onsite
Direct I-5 access near downtown Everett and the Port Gardner waterfront
Offered at $3,900,000.
The facility produces in-place income today with meaningful upside as occupancy climbs toward stabilization. Current annualized net income is approximately $82,581. At stabilized occupancy, net operating income is projected at approximately $280,708 based on current existing-tenant rental rates, representing a 7.20% stabilized cap rate at the $3,900,000 asking price.
Positioned near Interstate 5 with direct freeway access, the property sits in a supply-constrained Everett market near the Port Gardner waterfront and redevelopment district. Everett is Snohomish County’s second-largest city with a 2024 population above 116,700 and is anchored by major employers including Boeing.
Highlights:
150 units across four professionally managed metal structures
53% leased with significant lease-up upside toward stabilization
Approximately 25,836 rentable SF on a 1.01-acre site
$280,708 projected stabilized NOI
7.20% stabilized cap rate at asking price
2021 environmental report with no evidence of REC
Fencing and security cameras onsite
Direct I-5 access near downtown Everett and the Port Gardner waterfront
Offered at $3,900,000.
Property Facts
| Price | $3,900,000 | Lot Size | 1.01 AC |
| Price Per SF | $150.95 | Building Size | 25,836 SF |
| Sale Type | Investment or Owner User | No. Stories | 1 |
| Cap Rate | 7.20% | Year Built | 1987 |
| Property Type | Specialty | Parking Ratio | 0.97/1,000 SF |
| Property Subtype | Self-Storage | Opportunity Zone |
Yes
|
| Building Class | C | ||
| Zoning | LI -MU - LI-MU (Light Industrial / Mixed-Use) | ||
| Price | $3,900,000 |
| Price Per SF | $150.95 |
| Sale Type | Investment or Owner User |
| Cap Rate | 7.20% |
| Property Type | Specialty |
| Property Subtype | Self-Storage |
| Building Class | C |
| Lot Size | 1.01 AC |
| Building Size | 25,836 SF |
| No. Stories | 1 |
| Year Built | 1987 |
| Parking Ratio | 0.97/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | LI -MU - LI-MU (Light Industrial / Mixed-Use) |
Amenities
- Bus Line
Fairly walkable
50/100
Exceptionally drivable
90/100
Some public transit
50/100
Fairly bikeable
40/100
Property Taxes
| Parcel Number | 005760-025-000-03 | Improvements Assessment | $1,845,700 |
| Land Assessment | $1,124,300 | Total Assessment | $2,970,000 |
Property Taxes
Parcel Number
005760-025-000-03
Land Assessment
$1,124,300
Improvements Assessment
$1,845,700
Total Assessment
$2,970,000
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3816 Smith Ave