Office Building with Off-Street
1321 S 2nd Street Mount Vernon, WA 98273
For Sale
$425,000
A well-maintained office building with multiple offices, a lunch room, and generous off-street parking on its lot.
Property Size1,551 SF
Lot Size0.11 Acres
Price / SF$274.02
Days on Market574
Property Features for 1321 S 2nd Street
General Information
- Standard status
- Active
- Size
- 1,551 SF
- Lot size
- 0.11 Acres
- Property subtype
- General Commercial
Building Details
- Year Built
- 1949
Listing Agency:
Skagit Tradition Realty, LLC
(360) 424-0300
Listed By:
Danya Wolf · License #01988
Source:
Xome
Added: Dec 27, 2024
Changed: Jul 23
Last Checked: Jul 23 at 4:53PM
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 Skagit Tradition Realty, LLC
Investment Insights
Based on property information with market context.
This well-maintained office building totals 1,551 square feet and sits on a 4,591 square foot lot with generous off-street parking. The interior layout includes an entry/ante room and receptionist, secretarial and administrative space, plus three separate offices/work rooms. Additional amenities include a lunch room, a bath, and lots of storage.
The property has been used for years as a land surveyor’s office, with prior uses including an attorney’s office and a doctor’s office. It is located in downtown Mount Vernon and is convenient to the Courthouse.
The property has been used for years as a land surveyor’s office, with prior uses including an attorney’s office and a doctor’s office. It is located in downtown Mount Vernon and is convenient to the Courthouse.
Key Highlights
- 1,551 SF office building on a 4,591 SF lot with generous off‑street parking
- Convenient downtown Mount Vernon location near the courthouse
- Well‑maintained office layout includes a reception/secretarial and administrative area
Financial Insights For Office B
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 | $55.6k | $35.88 |
| − Vacancy | −$11.5k | −$7.39 |
| EGI | $44.2k | $28.49 |
| − OpEx | −$11.0k | −$7.12 |
| NOI | $33.1k | $21.37 |
1,551 SF · lease $35.88/SF/yr · vacancy 20.60% · expense 25.00%
Alternative Uses
Best Use
Office B
$473.4K
$414.3K – $552.3K
NOI $33,140 @ 7.0% cap · market cap 7.80%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$630.8K
$552.0K – $735.9K
NOI $44,156 @ 7.0% cap · market cap 10.39%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Office buildings
FAQs
What type of property is this?
Office building - A well-maintained office building with multiple offices, a lunch room, and generous off-street parking on its lot.
Where is this office building located?
The property is located at 1321 S 2nd Street Mount Vernon, WA.
What is the asking price?
The asking price for this property is $425,000.
What are key features of this property?
This property features: 1,551 SF office building on a 4,591 SF lot with generous off‑street parking; Convenient downtown Mount Vernon location near the courthouse; Well‑maintained office layout includes a reception/secretarial and administrative area
