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    619 Commercial Ave Anacortes, WA 98221

    Sponsored
    For Sale
    $4,995,000

    Historic Downtown Commercial Property, High Potential

    Description

    Added:
    Feb 3, 2025
    Days on Market:
    339
    The iconic Keystone Building, a cornerstone of Anacortes' downtown for over a century, presents a unique investment opportunity. This poured concrete structure boasts a newly installed roof and skylights, along with recent sewer and foundation upgrades, minimizing immediate capital expenditures. The building's well-maintained interior retains stunning historic details, ready for a discerning buyer's vision and touch. Priced at $4,995,000, this property offers a 5.5% cap rate. Included in the sale is a charming circa-1890 cottage, suitable for retail or residential use, and two additional city lots providing ample space for expansion or new development. Anacortes' thriving marina and arts scene, coupled with its impressive recent growth, make this a highly attractive investment. The property's eligibility for the National Historic Register (NHR) offers significant tax advantages for future restoration projects. This is a chance to own a piece of Anacortes history and shape its future. The property's location in the heart of downtown ensures high visibility and accessibility. The combination of the main building, the cottage, and the additional lots presents a versatile and lucrative investment opportunity with significant upside potential.

    Property Features for 619 Commercial Ave

    General Information

    Property type
    Other commercial real estate

    Building Details

    Year Built
    1910
    Property Profile Location Intelligence

    Current Use by Public Records

    Keystone Wellness Center Wellness Center Boho Chick Vintage Vintage Clothing Store Rosenbusch Photography Photographer North Sound Architecture Architect Lacey's Lashes & Driftwood ... Spa

    Suggested Use

    Realty agency Law Firm Restaurant Dental Office Spa & Massage Hair Salon Nail Salon Building Supply Clothing Store Auto Repair Shop

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Anacortes
    County
    Skagit
    State
    Washington
    Longitude
    -122.6121
    Latitude
    48.51681

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    FAQs

    What type of property is this?
    Commercial real estate - Historic Downtown Commercial Property, High Potential
    Where is this commercial real estate located?
    The property is located at 619 Commercial Ave Anacortes, WA.
    What is the asking price?
    The asking price for this property is $4,995,000.
    (360) 969-0669
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    619 Commercial Ave Anacortes, WA 98221
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    619 Commercial Ave Anacortes, WA 98221
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