10321 State AveMarysville, WA 98271

Property Details for 10321 State Ave

Year built

1933

Construction

TYPE NOT SPECIFIED

Lot size

0.12 AC

Property size (Sq ft)

1,981 SF

Zone code

M4

Property type

Retail properties

Property subtype

Bars

APN

30051600202600

APU

30051600202600

Description

This exceptional commercial property, located at 10321 State Avenue in Marysville, WA, presents a unique investment opportunity. The 12,197 square foot property comprises two separate tax parcels zoned for General Commercial use. A significant asset is the recently remodeled 1,981 square foot bar/restaurant, featuring a partially covered outdoor area and secured by a three-year lease. This provides immediate and consistent rental income. The second parcel, currently utilized as a parking lot, offers significant potential for future development or expansion. Both lots are flat and level, ensuring ease of access and utilization. The property benefits from excellent street visibility on State Avenue/Smokey Point Boulevard, a recently widened thoroughfare experiencing substantial growth. High traffic volume and convenient freeway access further enhance its desirability. This location is situated within a rapidly developing area, promising strong future returns on investment. The property's combination of existing income-generating space and a vacant, developable lot makes it an attractive proposition for investors seeking both immediate returns and long-term growth potential. The flat, level lots provide ample space for various commercial uses, making this a versatile and highly sought-after location. The property is priced at $1,350,000.

• CAP approach

  CAP return

  Valuation

  6%

  $785,487

  6.5%

  $725,065

  7%

  $673,274

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,517,471

  Geo Method

  $961,382

• Alternative Use

  Use

  Valuation

  Residential

  $611,619

  Hospitality

  $560,240

  Educational

  $466,113

  Medical

  $482,143

  Retail

  $725,065

Location Insight

City

Marysville

County

Snohomish

State

Washington

Latitude

48.0889

Longitude

-122.173

CBSA code

42660

CBSA name

SEATTLE-TACOMA-BELLEVUE, WA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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