Industrial Building with Secure
For Sale
Contact for pricing
Pending
1711 Port Drive, Burlington, WA 98233
Industrial building offering secure yard space and direct access to the I-5 exit for practical distribution and storage use.
Property Size10,960 SF
Lot Size1.37 Acres
Days on Market97
Property Features for 1711 Port Drive
General Information
Standard status
Pending
Size
10,960 SF
Lot size
1.37 Acres
Property subtype
Retail, Office, Industrial
Zoning
CI-1
Investment Type
Net Lease
Site & Location
Highway Access
Yes
Fenced Yard
Yes
Building Details
Year Built
2004
Listing Agency:
Learned Commercial, Inc
Listed By:
Jarrod Ball · License #22026577
(360) 855-8875
Source:
Crexi
Added: Jun 3
Changed: Aug 8
Last Checked: Jul 24 at 5:45PM
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
Investment Insights
Based on property information with market context.
This industrial building totals approximately 10,960+/- square feet and sits on about 1.37+/- acres. The property includes a secure yard, providing controlled outdoor storage or staging options alongside the enclosed warehouse area. Zoning is CI-1: Commercial and Industrial, supporting flexible commercial and industrial uses for qualified tenants or owners.
The building is located approximately one block east of Burlington Blvd and offers direct access to an I-5 exit (Exit 229, [George Hopper]). That connectivity can be beneficial for logistics planning, service routing, and daily transportation needs depending on the operating model.
With its combination of enclosed industrial space, a secure yard, and CI-1 zoning, this asset is a practical fit for businesses that need both warehouse operations and controlled outdoor space. For prospective buyers, the property’s size and yard component make it worth reviewing for distribution, warehousing, and other commercial and industrial applications consistent with CI-1 requirements. All information is deemed reliable but not guaranteed; interested parties should verify details during their due diligence.
The building is located approximately one block east of Burlington Blvd and offers direct access to an I-5 exit (Exit 229, [George Hopper]). That connectivity can be beneficial for logistics planning, service routing, and daily transportation needs depending on the operating model.
With its combination of enclosed industrial space, a secure yard, and CI-1 zoning, this asset is a practical fit for businesses that need both warehouse operations and controlled outdoor space. For prospective buyers, the property’s size and yard component make it worth reviewing for distribution, warehousing, and other commercial and industrial applications consistent with CI-1 requirements. All information is deemed reliable but not guaranteed; interested parties should verify details during their due diligence.
Key Highlights
- 10,960 +/- SF industrial building built in 2004
- Set on 1.37 +/- acres with a secure yard
- Direct access to I‑5 exit 229 (George Hopper)
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
$112,374
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
4.78%
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%
$2,247,480
$2.2M
Cap Rate 7%
$1,605,343
$1.6M
Cap Rate 9%
$1,248,600
$1.2M
Market Conditions
NOI Build-Up for 10,960 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
$134.2K $12.24/SF
− Vacancy
−$1.9K −$0.18/SF
EGI
$132.2K $12.06/SF
− OpEx
−$19.8K −$1.81/SF
NOI
$112.4K $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%
$2,247,480
Cap Rate 7%
$1,605,343
Cap Rate 9%
$1,248,600
Alternative Uses
Best Use
Warehouse
$1.61M
$1.40M – $1.87M
NOI $112,374 @ 7.0% cap · market cap 4.78%
Second Best
Industrial
$1.32M
$1.16M – $1.54M
NOI $92,544 @ 7.0% cap · market cap 3.94%
Theoretical Best
Office A
$4.46M
$3.90M – $5.20M
NOI $312,028 @ 7.0% cap · market cap 13.28%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Fenced yard
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
551
Businesses Nearby
Well-served
Demand for This Use
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Bellingham Cold Storage Burlington Dry — 1600 Port Dr, Burlington, WA 98233
- Aztec Self Storage — 650 Pease Rd, Burlington, WA 98233
- Advanced Self Storage in Burlington — 600 Fisher Ln, Burlington, WA 98233
Frequently Asked Questions
What type of property is this?
Warehouse - Industrial building offering secure yard space and direct access to the I-5 exit for practical distribution and storage use.
Where is this warehouse located?
The property is located at 1711 Port Drive Burlington, WA.
What is the asking price?
The asking price for this property is $2,350,000.
What are key features of this property?
This property features: 10,960 +/- SF industrial building built in 2004; Set on 1.37 +/- acres with a secure yard; Direct access to I‑5 exit 229 (George Hopper)
