Retail and Warehouse Flex
1333 Riverside Drive Mount Vernon, WA 98273
1333 Riverside Drive, Mount Vernon, WA, 98273
$3,000,000
For Sale
$3,000,000
19,700 SF building with open layout, office mezzanine, and both grade-level and dock-high loading doors.
Property Size19,700 SF
Price / SF$152.28
Days on Market133
Property Features for 1333 Riverside Drive
General Information
- Standard status
- Active
- Size
- 19,700 SF
- Property subtype
- General Commercial
Building Details
- Year Built
- 1940
Listing agency
(425) 319-3100
Listed by
Dave Nelson Real Estate
Source
Xome
Added: Mar 11 Updated: Jul 21 at 7:54AM Checked: Jul 21 at 7:54AM
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 Dave Nelson Real Estate
Investment Insights
Based on property information with market context.
This 19,700 SF commercial building is configured with an open layout designed to support a range of retail and warehouse uses. The property includes an office upstairs located in the mezzanine, with restrooms underneath. Loading is flexible, with both a grade-level door and a dock-high loading door.
The building was formerly operated as a grocery store and is offered for sale with recent electrical upgrades completed in 2023. That improvement is intended to enhance functionality and help reduce near-term capital needs for an incoming tenant or owner.
As presented, the combination of open floor space, mezzanine office, and dual loading options can support operations that need straightforward space planning and practical receiving access.
The building was formerly operated as a grocery store and is offered for sale with recent electrical upgrades completed in 2023. That improvement is intended to enhance functionality and help reduce near-term capital needs for an incoming tenant or owner.
As presented, the combination of open floor space, mezzanine office, and dual loading options can support operations that need straightforward space planning and practical receiving access.
Key Highlights
- 19,700 SF commercial building in Mount Vernon with an open layout from a former grocery store
- Office mezzanine upstairs with restrooms underneath
- Loading flexibility with both a grade‑level door and a dock‑high loading door
Local 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 | $241.1k | $12.24 |
| − Vacancy | −$3.5k | −$0.18 |
| EGI | $237.6k | $12.06 |
| − OpEx | −$35.6k | −$1.81 |
| NOI | $202.0k | $10.25 |
19,700 SF · lease $12.24/SF/yr · vacancy 1.45% · expense 15.00%
Alternative Uses
Best Use
Warehouse
$2.89M
$2.52M – $3.37M
NOI $201,987 @ 7.0% cap · market cap 6.73%
Second Best
Industrial
$2.38M
$2.08M – $2.77M
NOI $166,342 @ 7.0% cap · market cap 5.54%
Theoretical Best
Office A
$8.01M
$7.01M – $9.35M
NOI $560,852 @ 7.0% cap · market cap 18.70%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Tacos Los Cachanillas
Restaurant
Similar For Sale Nearby
Similar Off Market Nearby
- Java Jo's On the Go — 110 Stewart Rd, Mount Vernon, WA 98273
- Firehouse Subs Mount Vernon — 324 E College Way Ste. 103, Mount Vernon, WA 98273
- Max Dale's Steak & Chop House — 2030 Riverside Dr, Mount Vernon, WA 98273
FAQs
What type of property is this?
Flex space - 19,700 SF building with open layout, office mezzanine, and both grade-level and dock-high loading doors.
Where is this flex space located?
The property is located at 1333 Riverside Drive Mount Vernon, WA.
What is the asking price?
The asking price for this property is $3,000,000.
What are key features of this property?
This property features: 19,700 SF commercial building in Mount Vernon with an open layout from a former grocery store; Office mezzanine upstairs with restrooms underneath; Loading flexibility with both a grade‑level door and a dock‑high loading door
