Downtown Mount Vernon Office
415 Pine Street, Mount Vernon, WA 98273
Leased office building with covered parking and redevelopment potential.
Type:Commercial
Property size:
2,961 SFLot size:
0.14 AcresPrice / SF:
$268/SF- Added:
- Feb 5, 2026
- Days on Market:
- 101
- Last Refresh:
- Apr 5 at 9:09 pm
Property Features for 415 Pine Street
General Information
- Standard status
- Active
- Size
- 2,961 SF
- Lot size
- 0.14 Acres
- Property subtype
- Commercial
Building Details
- Year Built
- 1976
Listing agent JARED FRASER
Listing office SPIRE ONE REALTY (206) 231-9993
Listing date Feb 5, 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 SPIRE ONE REALTY
HighLights
- Stable income from established law firms with in‑place leases.
- Prime downtown location in Mount Vernon's central business district (C‑1A zoning).
- Significant future redevelopment potential due to zoning and location within the downtown waterfront influence area.
- Rare and valuable covered parking (approximately 3,096 SF) in the downtown core.
- Excellent visibility and scenic views of the Skagit River waterfront.
- Proximity to Riverwalk Promenade, public parks, dining, and civic amenities.
Overview
Located in downtown Mount Vernon, this office building offers 2,961 square feet of professional office space on a 6,068 square foot lot. The property is zoned Central Business (C-1A) and is currently occupied by established law firms, providing in-place income. A rare asset in the downtown core, the property includes approximately 3,096 square feet of parking and enjoys excellent visibility with scenic views of the Skagit River waterfront. The layout is well-suited for continued professional office use. Situated within the downtown waterfront influence area, the site benefits from proximity to the Riverwalk Promenade, public parks, dining, and civic amenities. The C-1A zoning allows for a wide range of commercial and mixed-use opportunities, aligning with the city’s long-term vision for increased density and river-oriented redevelopment. This presents an attractive opportunity for investors seeking stable income today with future upside potential.
Financial Insights
Value Estimation Calculated for Office B
Conservative
$703.0K
NOI $63,266 @ 9.00% cap · cautious / downside scenario
Moderate
$903.8K
NOI $63,266 @ 7.00% cap · market / base-case scenario
Aggressive
$1.27M
NOI $63,266 @ 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 | $106.2k | $35.88 |
| − Vacancy | −$21.9k | −$7.39 |
| EGI | $84.4k | $28.49 |
| − OpEx | −$21.1k | −$7.12 |
| NOI | $63.3k | $21.37 |
2,961 SF · lease $35.88/SF/yr · vacancy 20.60% · expense 25.00%
Alternative Use Scenarios
Best Use
Office B
$903.8K
$790.8K – $1.05M
NOI $63,266 @ 7.0% cap · market cap 7.96%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.20M
$1.05M – $1.40M
NOI $84,299 @ 7.0% cap · market cap 10.60%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
Prism Capital Management
Financial Advisor
Law Office of Hector ...
Law Firm
Location Insight
- Map
- Local Demand
- City
- Mount Vernon
- County
- Skagit
- State
- Washington
- Longitude
- -122.339
- Latitude
- 48.4185
Nearby Similar for Sale
FAQs
What type of property is this?
Office building - Leased office building with covered parking and redevelopment potential.
Where is this office building located?
The property is located at 415 Pine Street Mount Vernon, WA.
What is the asking price?
The asking price for this property is $795,000.
What are key features of this property?
This property features: Stable income from established law firms with in‑place leases.; Prime downtown location in Mount Vernon's central business district (C‑1A zoning).; Significant future redevelopment potential due to zoning and location within the downtown waterfront influence area.
