Live-Work Space with Finished
For Sale
$499,000
Pending
226 E Orange Avenue, Burlington, WA 98233
MUR-1 zoning permits residential use and certain compatible small-scale commercial uses.
Property Size1,659 SF
Days on Market139
Property Features for 226 E Orange Avenue
General Information
Standard status
Pending
Size
1,659 SF
Property subtype
Manufactured On Land
Zoning
MUR-1
Additional Details
Condition
Move-in Ready
Utilities to Site
Yes
Office Units
1
Property Use
Office
Building Details
Year Built
2025
Buildings
2
Tenancy
Single
Listing Agency:
eXp Realty
(888) 317-5197
Listed By:
Shelley Camacho · License #117954
(360) 708-4377
Source:
Dulayhomes
Added: Jun 16
Changed: Oct 31
Last Checked: Oct 31 at 7:54AM
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 eXp Realty
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Investment Insights
Based on property information with market context.
Built in 2025, this 1,659-square-foot live-work property includes a four-bedroom, three-bathroom home with an open living area. The detached one-car garage has a finished 400-square-foot upper space with its own entrance, a full bathroom, washer and dryer hookups, utilities, a mini-split, and on-demand hot water. An apartment-size stove and microwave are included but not installed; the space is also configured for a future kitchen. The home has a gas furnace, stove, and hot water heater.
MUR-1 zoning allows residential use and certain compatible small-scale commercial uses. Parking includes space for an RV, as well as front and alley parking. Shopping, restaurants, and everyday amenities are within walking distance.
MUR-1 zoning allows residential use and certain compatible small-scale commercial uses. Parking includes space for an RV, as well as front and alley parking. Shopping, restaurants, and everyday amenities are within walking distance.
Key Highlights
- 2025 construction; 1,659 square feet
- Four‑bedroom, three‑bathroom home with open‑concept living area
- Detached one‑car garage with 400 Sq Ft of finished space above
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$35,447
Cap Rate
7.10%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$708,940
$708.9K
Cap Rate 7%
$506,386
$506.4K
Cap Rate 9%
$393,856
$393.9K
Market Conditions
NOI Build-Up for 1,659 SF
Gross rent
$59.5K $35.88/SF
− Vacancy
−$12.3K −$7.39/SF
EGI
$47.3K $28.49/SF
− OpEx
−$11.8K −$7.12/SF
NOI
$35.4K $21.37/SF
Area
Skagit County, WA
Vacancy
20.60%
Lease Rate
$35.88 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$708,940
Cap Rate 7%
$506,386
Cap Rate 9%
$393,856
Alternative Uses
Best Use
Office B
$506.4K
$443.1K – $590.8K
NOI $35,447 @ 7.0% cap · market cap 7.10%
Second Best
Mixed Use
$222.0K
$194.2K – $259.0K
NOI $15,538 @ 7.0% cap · market cap 3.11%
Theoretical Best
Office A
$674.7K
$590.4K – $787.2K
NOI $47,231 @ 7.0% cap · market cap 9.47%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
1
Office units
Single-tenant
Tenancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
885
Businesses Nearby
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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
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Market
Vacancy Rate% for Office in West region
Frequently Asked Questions
What type of property is this?
Live-work space - MUR-1 zoning permits residential use and certain compatible small-scale commercial uses.
Where is this live-work space located?
The property is located at 226 E Orange Avenue Burlington, WA.
What is the asking price?
The asking price for this property is $499,000.
What are key features of this property?
This property features: 2025 construction; 1,659 square feet; Four‑bedroom, three‑bathroom home with open‑concept living area; Detached one‑car garage with 400 Sq Ft of finished space above
