Turnkey Standalone Office-Retail
For Sale
$425,000
915 McLean Rd, Mount Vernon, WA 98273
Single-story standalone building with 14 off-street parking spaces and recent capital improvements.
Property Size1,472 SF
Lot Size0.20 Acres
Price / SF$288.72
Days on Market130
Property Features for 915 McLean Rd
General Information
Standard status
Active
Size
1,472 SF
Total Parking Spaces
14
Lot size
0.20 Acres
Occupancy
100%
Site & Location
Highway Access
Yes
Road Access
Yes
Building Details
Year Built
1942
Stories
1
Listing Agency:
Coldwell Banker 360 Team
Listed By:
Tyler Fitzgerald
(360) 544-2255
Source:
Lifestylehomeswithmel
Added: Jun 16
Changed: Oct 2
Last Checked: Oct 7 at 4:22PM
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 Coldwell Banker 360 Team
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Investment Insights
Based on property information with market context.
This turnkey, single-story standalone commercial property totals 1,472 square feet and is maintained with a modernized buildout. Recent capital improvements include a new 40-year rated TPO roof (2020), a new electrical panel (2017), new concrete plank siding (2017), new 20" sewer main (2021), along with fresh interior and exterior paint. The property is presented as a fully leased investment, or it can be transitioned by an owner-user to establish a custom office or retail storefront.
The building features high-visibility road frontage on a highly trafficked thoroughfare, offering straightforward access to the Interstate 5 corridor. It is positioned just minutes from downtown Mount Vernon and includes 14 dedicated, off-street parking spaces on an 8,712-square-foot lot.
The building features high-visibility road frontage on a highly trafficked thoroughfare, offering straightforward access to the Interstate 5 corridor. It is positioned just minutes from downtown Mount Vernon and includes 14 dedicated, off-street parking spaces on an 8,712-square-foot lot.
Key Highlights
- 1,472 SF single‑story standalone commercial building built in 1942 on an 8,712 SF lot
- Fully leased investment or owner‑user space with straightforward road‑front access to I‑5 corridor
- Recent capital improvements include 40‑year rated TPO roof (2020), electrical panel (2017), concrete plank siding (2017), and 20" sewer main (2021)
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$31,452
Cap Rate
7.40%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$629,040
$629.0K
Cap Rate 7%
$449,314
$449.3K
Cap Rate 9%
$349,467
$349.5K
Market Conditions
NOI Build-Up for 1,472 SF
Gross rent
$52.8K $35.88/SF
− Vacancy
−$10.9K −$7.39/SF
EGI
$41.9K $28.49/SF
− OpEx
−$10.5K −$7.12/SF
NOI
$31.5K $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%
$629,040
Cap Rate 7%
$449,314
Cap Rate 9%
$349,467
Alternative Uses
Best Use
Office B
$449.3K
$393.2K – $524.2K
NOI $31,452 @ 7.0% cap · market cap 7.40%
Second Best
Retail
$177.6K
$155.4K – $207.2K
NOI $12,429 @ 7.0% cap · market cap 2.92%
Theoretical Best
Office A
$598.7K
$523.8K – $698.5K
NOI $41,907 @ 7.0% cap · market cap 9.86%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
100%
Occupancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
967
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 98273, WA
31,243
Population
11,991
Households
2.6
Avg Household Size
37
Median Age
25%
College-Educated
87%
High-School Grad
83.9 sq mi
ZIP Area
372
Density / Sq Mi
$74,247
Median Household Income
$42,168
Median Earnings
$1,171
Median Rent
$448,300
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in West region
Similar Off Market Nearby
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Frequently Asked Questions
What type of property is this?
Storefront property - Single-story standalone building with 14 off-street parking spaces and recent capital improvements.
Where is this storefront property located?
The property is located at 915 McLean Rd Mount Vernon, WA.
What is the asking price?
The asking price for this property is $425,000.
What are key features of this property?
This property features: 1,472 SF single‑story standalone commercial building built in 1942 on an 8,712 SF lot; Fully leased investment or owner‑user space with straightforward road‑front access to I‑5 corridor; Recent capital improvements include 40‑year rated TPO roof (2020), electrical panel (2017), concrete plank siding (2017), and 20" sewer main (2021)
