1503 Riverside Drive, Mount Vernon, WA 98273
Former drive-thru bank suitable for retail or office use.
- Added:
- Mar 30, 2026
- Days on Market:
- 71
- Last Refresh:
- Mar 30 at 8:09 pm
Property Features for 1503 Riverside Drive
General Information
- Standard status
- Active
- Size
- 3,109 SF
- Lot size
- 0.57 Acres
- Property subtype
- Commercial
Listing agent CONNIE A. VEGA
Listing office RED ROCK REAL ESTATE (425) 296-2280
Listing date Mar 30, 2026
Source Corcoran
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 RED ROCK REAL ESTATE
HighLights
- High‑Traffic Location: Situated near the corner of College Way and Riverside Dr, one of Mt. Vernon's busiest intersections.
- Versatile Zoned C‑2: Suitable for retail or office use.
- Substantial Lot Size: Estimated .57 Acres/24,829 SF.
- Adaptable Layout: Open first floor with private office/break room, plus two second‑floor offices and storage.
- Former Drive‑Thru Bank: Potential for repurposing existing infrastructure.
- Sizeable Building: 3,109 SF provides ample space.
Overview
Local 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 | $111.6k | $35.88 |
| − Vacancy | −$23.0k | −$7.39 |
| EGI | $88.6k | $28.49 |
| − OpEx | −$22.1k | −$7.12 |
| NOI | $66.4k | $21.37 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- Mount Vernon
- County
- Skagit
- State
- Washington
- Longitude
- -122.3359925
- Latitude
- 48.4340676
