Listing courtesy of Daily Realty Group LLC 425-293-6331
$1,500,000
Prime Highway 2 Commercial Redevelopment Opportunity with Existing Income on .58 acres. Zoned General Commercial, this high-visibility property benefits from approximately 22,000 vehicles per day along the busy Highway 2 corridor, providing excellent exposure for future commercial uses. The site offers strong potential for redevelopment including retail, restaurant, office, or… Read More mixed-use projects. Currently operating as a 19-unit motel with weekly rentals, the property generates interim income while future plans are developed. Utilities are already on site and the larger parcel size offers flexibility for redevelopment, expansion, or repositioning. Conveniently located in Monroe along a major commuter and recreation route connecting Everett, Monroe, and Stevens Pass, with nearby shopping, dining, and services. Rare opportunity to acquire a larger commercial parcel with strong visibility, existing income, and long-term development potential. Pro Forma Financials indicate an estimated 13% CAP RATE based on projected stabilized operations. Read Less
Listing courtesy of Daily Realty Group LLC 425-293-6331
Listing Snapshot
Cumulative Days On Market
35
Days on Website
34
Last Updated
Property Type
Hotel/Motel
Lot Size
0.58 Acres
Year Built
1953
Property Tax
$9,421
MLS Number
2497688
30 Days Snapshot Of 98272
$903k
+16%
(avg) sold price
28
-22%
homes sold
73
-13%
(avg) days on market
Snapshot
Area Map
Additional Details
Building
Building Area Total: 0, Building Area Units: Square Feet, Building Features: "Signage Included", Calculated Square Footage: 0, Elevation Units: Feet, Living Area: 0, Number Of Units Total: 0, Structure Type: "Hotel/Motel", Year Built: 1953, Year Built Effective: 1953
Sewer: "Sewer Connected", Sewer Company: City of Monroe
Utilities
Electric Expense: 11977, Fuel Expense: 0, Power Company: Snohomish County PUD, Power Production Type: "Electric", Water Company: City of Monroe, Water Source: "Public"
Based on information submitted to the MLS GRID as of . All data is obtained from various sources and may not have been verified by 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. Listings last updated on ,
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