Sign Up Successful!
You now have access to more from Realmo!
    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

    420 1St St Mount Vernon, WA 98273

    Loading data...
    Loading data...
    Loading data...
    For Sale
    $250,000

    Downtown Mount Vernon development lot with high foot traffic.

    Property size:
    5,663 SF

    Property Features for 420 1St St

    General Information

    Size
    5,663 SF

    We can help!

    Listing Contact
    Jarrod Ball
    Source: Corcoran

    Listing Agent: Jarrod Ball

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

    Learn more

    Property Insight Report

    Overview

    Downtown Development Lot For Sale

    This 0.13 +/- acre development lot is located in downtown Mount Vernon, an area characterized by high foot traffic. The surrounding area includes the historic Lincoln Theatre, retail shops, restaurants, and professional offices. The property is zoned C-1a: Downtown Districts and offers potential for various development projects.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Mount Vernon
    County
    Skagit
    State
    Washington
    Longitude
    -122.3367
    Latitude
    48.42476

    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
    • $775,000
      4,500 SF

      Mount Vernon Commercial/Industrial Property

      Versatile property with shop, home, and high visibility.
      2401-2407 Old Highway 99 S Rd S, Mount Vernon, WA 98273
      View Details
    • $37,500
      728 SF

      Renovated Manufactured Home in 55+ Park

      Updated 728 SF manufactured home in Mountain View Estates.
      2522 Old Highway 99 S Rd, Mount Vernon, WA 98273
      View Details
    • $565,000
      1,612 SF

      Versatile Office Building in Mount Vernon

      Two office spaces in one building with flexible zoning.
      1101 S 2Nd St, Mount Vernon, WA 98273
      View Details
    • $1,100,000
      2,612 SF

      Mount Vernon Commercial Investment Opportunity

      Three diverse commercial investments in one strategically positioned building.
      1331 2Nd St, Mount Vernon, WA 98273
      View Details
    • $799,000

      Established Brewery with Expansion Potential

      Successful brewery for sale with immediate income and growth opportunity.
      17406 State Route 536, Mount Vernon, WA 98273
      View Details
    • $25,800,000

      Skagit Valley Manufactured Home Lots

      172 lots with public utilities and strong occupancy history.
      1400 30Th St, Mount Vernon, WA 98273
      View Details
    • $5,200,000
      34,417 SF

      Mount Vernon Warehouse and Office

      Warehouse with remodeled office and temporary storage on 5 acres.
      3709 Old Hwy 99 Rd South, Mount Vernon, WA 98273
      View Details
    • $1,105,600
      4,800 SF

      Downtown Office Building with Parking

      Downtown Mount Vernon office building with parking lot included.
      317 S 2Nd St, Mount Vernon, WA 98273
      View Details
    • $1,275,000

      Well-Maintained Commercial Property For Sale

      Fully occupied commercial property with multiple income streams and upside potential.
      1621 Freeway Dr, Mount Vernon, WA 98273
      View Details
    • $399,950

      Heated Industrial Condominiums For Sale

      Five industrial condominiums with individual utilities and excellent location.
      2001 Henson Rd, Mount Vernon, WA 98273
      View Details
    • $340,000
      1,212 SF

      Move-In Ready Condo with Garage

      Three-bedroom condo with garage near amenities and greenbelt.
      803 S Laventure Rd, Mount Vernon, WA 98273
      View Details

    FAQs

    What type of property is this?
    Commercial land - Downtown Mount Vernon development lot with high foot traffic.
    Where is this commercial land located?
    The property is located at 420 1St St Mount Vernon, WA.
    What is the asking price?
    The asking price for this property is $250,000.
    What are key features of this property?
    This property features: - Located in downtown Mount Vernon with high foot traffic.; - Zoned C-1a: Downtown Districts.; - 0.13 +/- acres downtown development lot.
    Request Owner's contact information
    420 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.
    420 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
    420 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
    Jarrod Ball
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.