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    1609 R Ave Anacortes, WA 98221

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    For Sale
    $5,995,000

    12,627 SF retail building with a new 10-year lease.

    Property size:
    12,627 SF
    Lot size:
    1.12 Acres

    Property Features for 1609 R Ave

    General Information

    Size
    12,627 SF
    Lot size
    1.12 Acres

    Source: Learned Commercial, Inc. Agent Clay Learned

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Retail Building with Leaseback Opportunity

    This 12,627 square foot retail building is situated on a 1.13-acre lot. Currently occupied by Thrive Community Fitness, the property is offered with a sale-leaseback arrangement, featuring a new 10-year lease at closing, including renewal options. The lease incorporates annual rental rate increases of 2.5%. The property is well-maintained and benefits from recent improvements. Zoned MMU (Marine Mixed Use), this property presents a promising investment opportunity.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Thrive Community Fitness Fitness Center Eat The Frog Fitness ... Fitness Center

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Anacortes
    County
    San Juan
    State
    Washington
    Longitude
    -122.6087113
    Latitude
    48.5089771

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    FAQs

    What type of property is this?
    Retail space - 12,627 SF retail building with a new 10-year lease.
    Where is this retail space located?
    The property is located at 1609 R Ave Anacortes, WA.
    What is the asking price?
    The asking price for this property is $5,995,000.
    What are key features of this property?
    This property features: - New 10-year lease with renewal options at closing provides immediate and stable income.; - Sale/leaseback arrangement ensures occupancy and cash flow from day one.; - 2.5% annual rental rate increases offer built-in revenue growth.
    (360) 770-1388
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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
    1609 R Ave Anacortes, WA 98221
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