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3816 Smith Ave 25,836 SF Specialty Building Offered at $6,316,200 CAD at a 6.25% 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. On current existing-tenant rates, stabilized net operating income is projected at approximately $280,708, reflecting a going-in cap rate 6.25%.
Positioned near Interstate 5 with direct freeway access, the property sits in a supply-constrained Everett market close to the Port Gardner waterfront and redevelopment district. Everett is Snohomish County's second-largest city with a 2024 population above 116,700, anchored by major employers including Boeing.
Highlights:
- 150 units across four gated, professionally managed metal structures
- 53% leased with clear lease-up upside toward stabilization
- Approximately 25,836 rentable SF on a 1.01-acre site
- 2021 environmental report with no evidence of REC
- Fencing and security cameras onsite
- Direct I-5 access, minutes to downtown Everett and the waterfront
Offered at $4,500,000.
The facility produces in-place income today with meaningful upside as occupancy climbs toward stabilization. On current existing-tenant rates, stabilized net operating income is projected at approximately $280,708, reflecting a going-in cap rate 6.25%.
Positioned near Interstate 5 with direct freeway access, the property sits in a supply-constrained Everett market close to the Port Gardner waterfront and redevelopment district. Everett is Snohomish County's second-largest city with a 2024 population above 116,700, anchored by major employers including Boeing.
Highlights:
- 150 units across four gated, professionally managed metal structures
- 53% leased with clear lease-up upside toward stabilization
- Approximately 25,836 rentable SF on a 1.01-acre site
- 2021 environmental report with no evidence of REC
- Fencing and security cameras onsite
- Direct I-5 access, minutes to downtown Everett and the waterfront
Offered at $4,500,000.
Property Facts
| Price | $6,316,200 CAD | Lot Size | 1.01 AC |
| Price Per SF | $244.47 CAD | Building Size | 25,836 SF |
| Sale Type | Investment or Owner User | No. Stories | 1 |
| Cap Rate | 6.25% | 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 | $6,316,200 CAD |
| Price Per SF | $244.47 CAD |
| Sale Type | Investment or Owner User |
| Cap Rate | 6.25% |
| 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 | $2,599,650 CAD |
| Land Assessment | $1,583,565 CAD | Total Assessment | $4,183,215 CAD |
Property Taxes
Parcel Number
005760-025-000-03
Land Assessment
$1,583,565 CAD
Improvements Assessment
$2,599,650 CAD
Total Assessment
$4,183,215 CAD
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3816 Smith Ave
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