Retail-Industrial Flex
For Sale
Contact for pricing
221 Woodworth St, Sedro Woolley, WA 98284
CBD-zoned building near downtown Sedro-Woolley with retail and industrial space.
Property Size10,000 SF
Lot Size0.81 Acres
Price / SF$128.50
Days on Market25
Property Features for 221 Woodworth St
General Information
Standard status
Active
Size
10,000 SF
Lot size
0.81 Acres
Property subtype
RETAIL
Zoning
CBD
Occupancy
100%
Building Details
Buildings
1
Building Size
10,000 SF
Tenancy
Single
Listing Agency:
Learned Commercial, Inc.
(360) 855-8875
Listed By:
Jarrod Ball · License #22026577
(360) 855-8875
Source:
Moodyscre
Added: Jul 13
Changed: Jul 31
Last Checked: Aug 6 at 12:31PM
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 10,000 +/- sf retail/industrial building is situated on 0.81+/- acres and is classified within the CBD, or Central Business District, zoning designation. The property offers a flex-oriented configuration combining retail and industrial space in one building.
Located just off main downtown Sedro Woolley, the property is owner occupied. Tours are available by appointment only.
Located just off main downtown Sedro Woolley, the property is owner occupied. Tours are available by appointment only.
Key Highlights
- 10,000 +/- sf retail/industrial building
- Situated on 0.81+/- acres
- Zoned CBD: Central Business District
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
$84,438
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
6.57%
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%
$1,688,760
$1.7M
Cap Rate 7%
$1,206,257
$1.2M
Cap Rate 9%
$938,200
$938.2K
Market Conditions
NOI Build-Up for 10,000 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
$122.4K $12.24/SF
− Vacancy
−$1.8K −$0.18/SF
EGI
$120.6K $12.06/SF
− OpEx
−$36.2K −$3.62/SF
NOI
$84.4K $8.44/SF
Area
Skagit County, WA
Vacancy
1.45%
Lease Rate
$12.24 /SF/Yr
Expense Ratio
30.00%
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%
$1,688,760
Cap Rate 7%
$1,206,257
Cap Rate 9%
$938,200
Alternative Uses
Best Use
Industrial
$1.21M
$1.06M – $1.41M
NOI $84,438 @ 7.0% cap · market cap 6.57%
Second Best
Retail
$1.21M
$1.06M – $1.41M
NOI $84,438 @ 7.0% cap · market cap 6.57%
Theoretical Best
Office A
$4.07M
$3.56M – $4.74M
NOI $284,697 @ 7.0% cap · market cap 22.16%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
100%
Occupancy
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
622
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 98284, WA
27,293
Population
11,095
Households
2.5
Avg Household Size
39
Median Age
20%
College-Educated
89%
High-School Grad
281.3 sq mi
ZIP Area
97
Density / Sq Mi
$82,097
Median Household Income
$50,074
Median Earnings
$1,476
Median Rent
$427,900
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
- Lorenzo's Mexican Restaurant — 221 Central Ave, Sedro-Woolley, WA 98284
Frequently Asked Questions
What type of property is this?
Flex space - CBD-zoned building near downtown Sedro-Woolley with retail and industrial space.
Where is this flex space located?
The property is located at 221 Woodworth St Sedro Woolley, WA.
What is the asking price?
The asking price for this property is $1,285,000.
What are key features of this property?
This property features: 10,000 +/- sf retail/industrial building; Situated on 0.81+/- acres; Zoned CBD: Central Business District
