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221 Woodworth Street, Sedro Woolley, WA 98284
CBD-zoned property combines retail and industrial functionality.
Property Size10,000 SF
Price / SF$128.50
Days on Market25
Property Features for 221 Woodworth Street
General Information
Standard status
Active
Size
10,000 SF
Property subtype
Retail, Industrial
Zoning
CBD
Occupancy
100%
Investment Type
Owner/User
Building Details
Year Built
1951
Buildings
1
Listing Agency:
Learned Commercial, Inc
(360) 855-8875
Listed By:
Jarrod Ball · License #22026577
Source:
Crexi
Added: Jul 28
Changed: Aug 8
Last Checked: Aug 8 at 7:48PM
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 commercial building occupies approximately 0.81 +/- acres and supports a combination of retail and industrial uses. Constructed in 1951, the property is classified within the CBD, or Central Business District, zoning designation.
The site is situated just outside downtown Sedro-Woolley. It is currently owner occupied, with property tours available by appointment.
The site is situated just outside downtown Sedro-Woolley. It is currently owner occupied, with property tours available by appointment.
Key Highlights
- 10,000 +/- SF retail and industrial building
- Situated on 0.81 +/- acres
- CBD zoning: 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
$102,531
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
7.98%
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%
$2,050,620
$2.1M
Cap Rate 7%
$1,464,729
$1.5M
Cap Rate 9%
$1,139,233
$1.1M
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
−$18.1K −$1.81/SF
NOI
$102.5K $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%
$2,050,620
Cap Rate 7%
$1,464,729
Cap Rate 9%
$1,139,233
Alternative Uses
Best Use
Warehouse
$1.46M
$1.28M – $1.71M
NOI $102,531 @ 7.0% cap · market cap 7.98%
Second Best
Industrial
$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
Location Intelligence
Trade Area within ½ mile
584
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
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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 property combines retail and industrial functionality.
Where is this flex space located?
The property is located at 221 Woodworth Street 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 and industrial building; Situated on 0.81 +/- acres; CBD zoning: Central Business District
