Mount Vernon Warehouse and
3709 Old Hwy 99 South Rd Mount Vernon, WA 98273
For Sale
$5,200,000
Pending
Warehouse with remodeled office and temporary storage on 5 acres.
Property Size34,417 SF
Days on Market562
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
(360) 424-4901
Listed By:
BALISA KOETJE
Source:
Corcoran
Added: Jan 8, 2025
Changed: Jul 6
Last Checked: Jul 23 at 7:52AM
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
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 For Warehouse
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $421.3k | $12.24 |
| − Vacancy | −$6.1k | −$0.18 |
| EGI | $415.2k | $12.06 |
| − OpEx | −$62.3k | −$1.81 |
| NOI | $352.9k | $10.25 |
34,417 SF · lease $12.24/SF/yr · vacancy 1.45% · expense 15.00%
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 local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Isalis
(Bike/Boat/Book/etc) Store
Party City
Party Supply Store
Skunk Funk
Big Box & Wholesale Store
Carl's Trading Co
Hat Shop
Bushka's Kitchen LLC
(Bike/Boat/Book/etc) Store
FAQs
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.
