Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    1615 S Walnut St Burlington, WA

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    0.91 acre commercial land parcel with utilities in place.

    Type:LAND
    Lot size:
    0.91 Acres
    Added:
    Oct 27, 2025
    Days on Market:
    170
    Last Refresh:
    Apr 5 at 8:25 pm

    Property Features for 1615 S Walnut St

    General Information

    Standard status
    Active
    Lot size
    0.91 Acres
    Property subtype
    LAND

    We can help!

    Listing Contact
    Clay Learned

    Listing agent Clay Learned

    Listing office Learned Commercial, Inc.

    Listing date Oct 27, 2025

    Source Moodyscre

    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 Learned Commercial, Inc.

    Overview

    Commercial Land Near I-5 Exit

    This 0.91 acre parcel of commercial land is located just off Burlington Boulevard, offering convenient access to I-5 at Exit 229, also known as George Hopper exit. The property is zoned MUC-2: Mixed Use Commercial. Underground utilities and storm drainage are already installed on the site. Some impact fee credits may be available.
    Location Intelligence

    Current Use by Public Records

    Commercial land

    Map

    City
    Burlington
    County
    Skagit
    State
    Washington
    Longitude
    -122.189
    Latitude
    47.9956

    Nearby Similar for Sale

    • $1,500,000

      Burlington Office Suites For Sale

      Professionally finished office suites in Burlington's Advantage Business Park.
      325 East George Hopper Road, Burlington, WA 98233
      View Details
    • $995,000

      Burlington Office Campus For Sale

      Former nonprofit office campus with multiple buildings and courtyard.
      225 N Walnut St, Burlington, WA
      View Details
    • $5,200,000
      31,750 SF

      Burlington Industrial Warehouse For Rent

      Industrial/manufacturing warehouse in a four-county hub with easy I-5 access.
      1369 Pacific Drive, Burlington, WA
      View Details
    • $6,800,000
      2,916 SF

      Burlington Office Space For Rent

      Office suites available for lease in Burlington, Washington.
      195 East George Hopper Road, Burlington, WA
      View Details
    • $572,250

      Retail Building Near I-5 Exit

      Retail building with parking, near highway and shopping centers.
      301 E Rio Vista Ave, Burlington, WA
      View Details
    • $429,000
      1,132 SF

      Class A Office Space Available

      Turn-key office space in Advantage Business Park, Burlington, WA.
      325 E George Hopper Rd, Burlington, WA
      View Details
    • $1,500,000
      4,298 SF

      Retail Building Near Cascade Mall

      4,298 SF retail building on 1.21 acres for sale.
      1126 South Burlington Boulevard, Burlington, WA
      View Details
    • $100,000

      Established Restaurant in Downtown Location

      Thriving restaurant for sale in a prime downtown location.
      624 E Fairhaven Ave, Burlington, WA, 98233-1823
      View Details
    • $750,000

      Vacant Land Near Goldenrod Rd

      3.8 acre commercial land near I-5 exit 230.
      9000 Andis Rd, Burlington, WA
      View Details
    • $600,000
      2,120 SF

      Retail Building on Highway 20

      2,120 SF retail building on 2 acres for sale.
      20601 Hwy 20, Burlington, WA
      View Details
    • $11,595,681

      Commercial Land with Freeway Frontage

      Ten commercial lots with excellent freeway access and visibility.
      1110 Waldschmidt Acres St, Burlington, WA
      View Details
    • $1,350,000
      9,221 SF

      Agricultural Building with Rail Spur

      9,221 SF agricultural building on 2.97 acres with rail.
      17413 Hwy 20, Burlington, WA
      View Details

    FAQs

    What type of property is this?
    Land - 0.91 acre commercial land parcel with utilities in place.
    Where is this land located?
    The property is located at 1615 S Walnut St Burlington, WA.
    What is the asking price?
    The asking price for this property is $750,000.
    What are key features of this property?
    This property features: Zoned MUC‑2: Mixed Use Commercial, offering versatile development opportunities.; 0.91 +/- acres, providing ample space for development.; Easy access to I‑5 exit 229 [George Hopper], ensuring convenient transportation.
    (360) 770-1388 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Clay Learned
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!