Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    306 1St St Mount Vernon, WA 98273

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contract
    $995,000

    5,687 SF office/retail space in downtown Mount Vernon.

    Property size:
    5,687 SF

    Property Features for 306 1St St

    General Information

    Standard status
    Contract
    Size
    5,687 SF

    Building Details

    Year built
    1940

    We can help!

    Listing Contact
    Clay Learned
    Source: Corcoran

    Listing Agency: LEARNED COMMERCIAL, INC. Listing Agent: Clay Learned

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Downtown Mount Vernon Office/Retail Space

    This property features approximately 5,687 square feet of office and retail space situated on approximately 0.13 acres. It is located in downtown Mount Vernon, benefiting from high foot traffic and proximity to the Skagit Food Co-op, professional offices, and retail shops. The property is located near I-5 exit 226/Kincaid. It is zoned C-1a: Downtown Districts.
    Location Intelligence

    Current Use by Public Records

    Office properties & Spaces

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

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

    Similar Places Nearby

    Pegasys Technologies

    Location Insight

    • Map
    • Local Demand
    City
    Mount Vernon
    County
    Skagit
    State
    Washington
    Longitude
    -122.336879
    Latitude
    48.420505

    Nearby Similar for Sale

    • $699,500
      0.11 Acres

      Historic Commercial Building in Mount Vernon

      9,000 SF commercial space in historic downtown Mount Vernon.
      307 South 1St St, Mount Vernon, WA 98273
      View Details
    • New
      $999,999
      0.21 Acres

      Mount Vernon Six-Unit Apartment Building

      Multi-family investment property with low tenant turnover and 100% occupancy.
      520 North 1St St, Mount Vernon, WA 98273
      View Details
    • $695,000

      Remodeled Warehouses with Breezeway

      Three warehouses, remodeled, with breezeway in Mount Vernon.
      625 4Th St, Mount Vernon, WA 98273
      View Details
    • $615,000

      Upgraded Retail Space in Mount Vernon

      Prime retail location with upgraded features, move-in ready.
      320 1St St, Mount Vernon, WA 98273
      View Details
    • $460,000
      5,500 SF

      Skagit River Brewery Opportunity

      Commercial building with established brewery business for sale.
      404 3Rd St, Mount Vernon, WA 98273
      View Details
    • $1,550,000

      Mount Vernon Commissary Kitchen Facility

      10,480 SF commissary kitchen with convenient I-5 access.
      1405 2Nd St, Mount Vernon, WA 98273
      View Details
    • Contact for pricing

      Downtown Mount Vernon Office Building

      Leased office building with covered parking and redevelopment potential.
      415 Pine St, Mount Vernon, WA 98273
      View Details
    • Contact for pricing

      Modern Office Space in Mount Vernon

      Move-in ready office space in renovated strip mall.
      1725 Continental Pl, Mount Vernon, WA 98273
      View Details
    • Contact for pricing

      Renovated Office Space Available

      High-end office space in renovated strip mall.
      1725 Continental Pl, Mount Vernon, WA 98273
      View Details
    • Contact for pricing

      Skagit River Brewery Building

      Historic brewery/restaurant/bar building in downtown Mount Vernon for sale.
      404 S 3Rd St, Mount Vernon, WA 98273
      View Details
    • Contact for pricing

      Mount Vernon Restaurant Space Available

      3,062 SF commercial space ideal for restaurant or food-service.
      2021 Freeway Dr, Mount Vernon, WA 98273
      View Details
    • Contact for pricing

      Mount Vernon Commercial Property Opportunity

      Versatile property with shop, home, and high visibility.
      2401 Old Highway 99 S Rd, Mount Vernon, WA 98273
      View Details

    FAQs

    What type of property is this?
    Office property - 5,687 SF office/retail space in downtown Mount Vernon.
    Where is this office property located?
    The property is located at 306 1St St Mount Vernon, WA.
    What is the asking price?
    The asking price for this property is $995,000.
    What are key features of this property?
    This property features: - High foot traffic location in downtown Mount Vernon; - 5,687 +/- sf office/retail space; - Zoned C-1a: Downtown Districts
    Request Owner's contact information
    306 1St St Mount Vernon, WA 98273
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    306 1St St
    Mount Vernon, WA 98273
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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.

    More about this property
    306 1St St Mount Vernon, WA 98273
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Clay Learned
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!