415 O Ave Anacortes, WA 98221
For Sale
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This exceptional commercial land opportunity in Anacortes, Washington, presents a unique investment prospect. Located at 415 O Avenue, 98221, this property is situated in a high-traffic area, a short distance from the vibrant Commercial Avenue, known for its diverse restaurants and shops. The land is currently leased to a successful three-screen cinema complex showing first-run movies and concert films, ensuring a consistent stream of revenue. The existing tenant, who wishes to remain, owns all projection equipment and is keen to continue operations. The cinema boasts a two-story lobby with recently renovated bathrooms and a food court area with significant potential for expansion and improvement. The property benefits from its proximity to several established businesses with back entrances and outdoor seating areas directly adjacent to the public parking lot shared by the cinema. The land itself is leased from the City of Anacortes, offering a stable and secure foundation for this investment. This is a rare chance to acquire a profitable, established business location in a desirable area with strong potential for future growth and development. The asking price for this exceptional opportunity is $550,000.
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Anacortes Cinemas Cinema Theater & Performing Art Venue
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendProperty tax & assessments
Tax year 2022Comparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Property description
Physical attributes from public recordsZoning & alternative use
No recorded transactions found for this property.
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
