Mount Vernon Warehouse and
For Sale
$5,200,000
Pending
3709 Old Hwy 99 South Rd, Mount Vernon, WA 98273
Warehouse with remodeled office and temporary storage on 5 acres.
Property Size34,417 SF
Days on Market653
Property Features for 3709 Old Hwy 99 South Rd
General Information
Standard status
Pending
Size
34,417 SF
Property subtype
Commercial
Listing Agency:
WINDERMERE - SKAGIT VALLEY
Listed By:
BALISA KOETJE
(360) 421-4111
Source:
Corcoran
Added: Jan 8, 2025
Changed: Oct 11
Last Checked: Oct 20 at 9:03PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of WINDERMERE - SKAGIT VALLEY
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This property presents a significant opportunity within the South Mount Vernon Commercial Light Industrial Zone. The site encompasses approximately 5 acres and features a warehouse of around 28,700 square feet, complemented by a newly remodeled attached office building spanning approximately 4,277 square feet. Additionally, there are three exterior temporary storage canvas buildings, each measuring 6,000 square feet, 4,200 square feet, and 4,200 square feet respectively. The property is largely fenced, paved, and includes approximately 600 feet of frontage on Old Highway 99. It benefits from 3-phase power, with 300 AMPS, 100 AMPS, and 80 AMPS, distributed across 7 electrical panels. A clean Phase One Report is available for review.
Key Highlights
- Large 5‑acre site in South Mount Vernon Commercial Light Industrial Zone.
- Approx. 28,700 SF warehouse and newly remodeled approx. 4,277 SF attached office building.
- Three exterior temporary storage canvas buildings totaling 14,400 SF.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$352,882
Cap Rate
6.79%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$7,057,640
$7.1M
Cap Rate 7%
$5,041,171
$5.0M
Cap Rate 9%
$3,920,911
$3.9M
Market Conditions
NOI Build-Up for 34,417 SF
Gross rent
$421.3K $12.24/SF
− Vacancy
−$6.1K −$0.18/SF
EGI
$415.2K $12.06/SF
− OpEx
−$62.3K −$1.81/SF
NOI
$352.9K $10.25/SF
Area
Skagit County, WA
Vacancy
1.45%
Lease Rate
$12.24 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$7,057,640
Cap Rate 7%
$5,041,171
Cap Rate 9%
$3,920,911
Alternative Uses
Best Use
Warehouse
$5.04M
$4.41M – $5.88M
NOI $352,882 @ 7.0% cap · market cap 6.79%
Second Best
Industrial
$4.15M
$3.63M – $4.84M
NOI $290,609 @ 7.0% cap · market cap 5.59%
Theoretical Best
Office A
$14.00M
$12.25M – $16.33M
NOI $979,840 @ 7.0% cap · market cap 18.84%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 98273, WA
31,243
Population
11,991
Households
2.6
Avg Household Size
37
Median Age
25%
College-Educated
87%
High-School Grad
83.9 sq mi
ZIP Area
372
Density / Sq Mi
$74,247
Median Household Income
$42,168
Median Earnings
$1,171
Median Rent
$448,300
Median Home Value
Market
Vacancy Rate% for Industrial in West region
Frequently Asked Questions
What type of property is this?
Warehouse - Warehouse with remodeled office and temporary storage on 5 acres.
Where is this warehouse located?
The property is located at 3709 Old Hwy 99 South Rd Mount Vernon, WA.
What is the asking price?
The asking price for this property is $5,200,000.
What are key features of this property?
This property features: Large 5‑acre site in South Mount Vernon Commercial Light Industrial Zone.; Approx. 28,700 SF warehouse and newly remodeled approx. 4,277 SF attached office building.; Three exterior temporary storage canvas buildings totaling 14,400 SF.
