USDA-Approved Livestock Processing
For Sale
$2,900,000
11719 Westar Ln, Burlington, WA 98233
Completed in 2023 with USDA-compliant kill floor, climate-controlled processing rooms, and four grade-level loading doors.
Property Size9,450 SF
Days on Market43
Property Features for 11719 Westar Ln
General Information
Standard status
Active
Size
9,450 SF
Property subtype
Industrial
Additional Details
Business Included
Yes
Outdoor Storage
Yes
Drive-In Doors
4
Building Details
Building Size
9,450 SF
Year Built
2023
Listing Agency:
Lee & Associates Commercial Real Estate Services
Listed By:
John Brussa
(206) 773-2675
Source:
Lee-associates
Added: Jul 24
Changed: Sep 2
Last Checked: Sep 2 at 2:40PM
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 Lee & Associates Commercial Real Estate Services
Investment Insights
Based on property information with market context.
Completed in 2023, this USDA-approved Livestock Processing Center (LPC) is designed to support commercial slaughter and meat processing operations. The facility includes a full commercial processing equipment package, climate-controlled processing rooms, and a USDA-compliant kill floor with a full overhead rail system. Additional improvements include freezers and coolers, excess paved yard area, floor trench drains and a wastewater system, and modern mechanical/HVAC, electrical, and plumbing (MEP) infrastructure throughout. Four (4) grade-level loading doors provide drive-up access to the production areas, and the property also features a retail storefront.
The facility is located within the Port of Skagit’s Bayview Business Park in the Skagit Valley, with other notable nearby businesses including Hexcel, Washington State University (Skagit), U.S. Mower, and an Amazon Fulfillment Center.
The configuration supports commercial processing workflows for beef, pork, lamb, and goat and is positioned with potential for future expansion. The seller has indicated favorable long-term ground lease terms.
The facility is located within the Port of Skagit’s Bayview Business Park in the Skagit Valley, with other notable nearby businesses including Hexcel, Washington State University (Skagit), U.S. Mower, and an Amazon Fulfillment Center.
The configuration supports commercial processing workflows for beef, pork, lamb, and goat and is positioned with potential for future expansion. The seller has indicated favorable long-term ground lease terms.
Key Highlights
- Completed in 2023: USDA‑approved livestock processing center (LPC) designed for slaughter, processing, cutting, and packaging.
- USDA‑compliant kill floor with full overhead rail system and climate‑controlled processing rooms.
- Full commercial processing equipment package included, plus freezers and coolers.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$96,892
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.34%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,937,840
$1.9M
Cap Rate 7%
$1,384,171
$1.4M
Cap Rate 9%
$1,076,578
$1.1M
Market Conditions
NOI Build-Up for 9,450 SF
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.
Gross rent
$115.7K $12.24/SF
− Vacancy
−$1.7K −$0.18/SF
EGI
$114.0K $12.06/SF
− OpEx
−$17.1K −$1.81/SF
NOI
$96.9K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,937,840
Cap Rate 7%
$1,384,171
Cap Rate 9%
$1,076,578
Alternative Uses
Best Use
Warehouse
$1.38M
$1.21M – $1.61M
NOI $96,892 @ 7.0% cap · market cap 3.34%
Second Best
Industrial
$1.14M
$997.4K – $1.33M
NOI $79,794 @ 7.0% cap · market cap 2.75%
Theoretical Best
Office A
$3.84M
$3.36M – $4.48M
NOI $269,038 @ 7.0% cap · market cap 9.28%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Drive-in doors
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
95
Businesses Nearby
Explore this area
Business Placement
Demographics for 98233, WA
16,034
Population
7,295
Households
2.2
Avg Household Size
38
Median Age
23%
College-Educated
90%
High-School Grad
33.2 sq mi
ZIP Area
483
Density / Sq Mi
$83,560
Median Household Income
$43,697
Median Earnings
$1,567
Median Rent
$466,300
Median Home Value
Market
Vacancy Rate% for Industrial in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Manufacturing property - Completed in 2023 with USDA-compliant kill floor, climate-controlled processing rooms, and four grade-level loading doors.
Where is this manufacturing property located?
The property is located at 11719 Westar Ln Burlington, WA.
What is the asking price?
The asking price for this property is $2,900,000.
What are key features of this property?
This property features: Completed in 2023: USDA‑approved livestock processing center (LPC) designed for slaughter, processing, cutting, and packaging.; USDA‑compliant kill floor with full overhead rail system and climate‑controlled processing rooms.; Full commercial processing equipment package included, plus freezers and coolers.
