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    Mount Vernon Commercial Property Opportunity Title is generated by Realmo AI

    2401 Old Hwy 99 S Road, Mount Vernon, WA 98273

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    For Sale
    $725,000

    Versatile property with shop, home, and high visibility.

    Type:Commercial
    Property size:
    2,100 SF
    Lot size:
    0.34 Acres
    Price / SF:
    $345/SF
    Added:
    Jan 20, 2026
    Days on Market:
    117
    Last Refresh:
    Apr 5 at 9:11 pm

    Property Features for 2401 Old Hwy 99 S Road

    General Information

    Standard status
    Active
    Size
    2,100 SF
    Lot size
    0.34 Acres
    Property subtype
    Commercial

    Building Details

    Year Built
    1936

    We can help!

    Listing Contact
    CHRISTOPHER ERDMANN

    Listing agent CHRISTOPHER ERDMANN

    Listing office EXP COMMERCIAL, LLC

    Listing date Jan 20, 2026

    Source Corcoran

    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 COMMERCIAL, LLC

    HighLights

    • High‑visibility location on Old Highway 99 with Commercial/Limited Industrial zoning.
    • 2400 sq ft shop with 200‑amp 3‑phase power, 14’8” doors, paint booth, bathroom, and two offices.
    • 14,810 sq ft lot outside the floodplain with easy I‑5 access.
    • 2,100 sq ft home with 4 beds and potential for additional finished attic space.
    • Additional income from billboard sign on property.
    • Sewer available; septic in place.

    Overview

    Located in Mount Vernon, this property presents an owner-user opportunity. Situated on Old Highway 99, the property benefits from high visibility and Commercial/Limited Industrial zoning. The 14,810 sq ft lot includes a 2,100 sq ft home with 4 beds and potential for additional finished space in the attic. A 2,400 sq ft shop is equipped with 200-amp 3-phase power, 14’8” doors, a paint booth, a bathroom, and two offices, making it suitable for an auto body or service business. Additional outbuildings offer storage and compressor space. The level lot is located outside the floodplain and provides easy access to I-5. The property has septic in place, with sewer availability. There is additional income potential from a billboard sign on the property. The property offers excellent exposure with steady traffic.

    Financial Insights

    Value Estimation Calculated for Office B

    Conservative
    $498.6K
    NOI $44,870 @ 9.00% cap · cautious / downside scenario
    Moderate
    $641.0K
    NOI $44,870 @ 7.00% cap · market / base-case scenario
    Aggressive
    $897.4K
    NOI $44,870 @ 5.00% cap · optimistic / upside scenario

    NOI & Cap Rate Calculator

    NOI Build-Up
    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.
         Calculated for Office B

    Component $ $/SF
    Gross rent $75.3k $35.88
    − Vacancy −$15.5k −$7.39
    EGI $59.8k $28.49
    − OpEx −$15.0k −$7.12
    NOI $44.9k $21.37
    2,100 SF · lease $35.88/SF/yr · vacancy 20.60% · expense 25.00%

    Alternative Use Scenarios

    Best Use
    Office B
    $641.0K
    $560.9K – $747.8K (±1% cap)
    NOI $44,870 @ 7.0% cap · market cap 6.19%
    Second Best
    Industrial
    $253.3K
    $221.7K – $295.5K (±1% cap)
    NOI $17,732 @ 7.0% cap · market cap 2.45%
    Theoretical Best
    Office A
    $854.1K
    $747.3K – $996.4K (±1% cap)
    NOI $59,786 @ 7.0% cap · market cap 8.25%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Auto shops

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon Hotel & Motel

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • Cedardale Truck & Trailer Sales — 4128 Cedardale Rd #9599, Mount Vernon, WA 98274
    • Master Marine Boat Center Inc — 506 Jacks Ln, Mount Vernon, WA 98273
    • WorkForce Services Inc — 3812 Cedardale Rd, Mount Vernon, WA 98274
    • Papé Machinery Agriculture & Turf — 4220 Old Hwy 99 South Rd, Mount Vernon, WA 98273
    • SKAGIT VALLEY POLARIS — 107 Sundquist Dr, Mount Vernon, WA 98273

    Location Insight

    • Map
    • Local Demand
    City
    Mount Vernon
    County
    Skagit
    State
    Washington
    Longitude
    -122.335
    Latitude
    48.4028

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    FAQs

    What type of property is this?
    Auto shop - Versatile property with shop, home, and high visibility.
    Where is this auto shop located?
    The property is located at 2401 Old Hwy 99 S Road Mount Vernon, WA.
    What is the asking price?
    The asking price for this property is $725,000.
    What are key features of this property?
    This property features: High‑visibility location on Old Highway 99 with Commercial/Limited Industrial zoning.; **2400 sq ft shop** with 200‑amp 3‑phase power, 14’8” doors, paint booth, bathroom, and two offices.; 14,810 sq ft lot outside the floodplain with easy I‑5 access.
    (206) 604-7440
    We can help!
    Listing Contact
    CHRISTOPHER ERDMANN
    Learn More
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    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.

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