Mixed-Use Retail/Office
A1-623 Morris St La Conner, WA 98257
For Sale
$594,950
Commercial condominium in a mixed-use development with an open, adaptable layout and generous natural light.
Property Size1,463 SF
Price / SF$406.66
Days on Market51
Property Features for A1-623 Morris St
General Information
- Standard status
- Active
- Size
- 1,463 SF
Listing Agency:
True North Realty
(360) 376-8000
Listed By:
Mariah P. Dunning · License #21108
(360) 376-8000
Source:
Exprealty
Added: Jun 3
Changed: Jul 22
Last Checked: Jul 23 at 9:54AM
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 True North Realty
Investment Insights
Based on property information with market context.
Offered for sale is a 1,463-square-foot commercial condominium within a well-maintained mixed-use development in La Conner, Washington. The unit features an open and adaptable floor plan designed to support a variety of commercial uses, with generous natural light throughout and interior flexibility for different operating layouts.
The space is positioned near La Conner’s downtown district, within proximity to local shops, restaurants, art galleries, and waterfront attractions. Convenient access to State Route 20 supports visibility to both year-round residents and seasonal visitors.
Inside, the configuration allows for practical build-outs such as reception areas, workstations, displays, meeting space, or private offices, depending on the needs of the owner-user or tenant.
The space is positioned near La Conner’s downtown district, within proximity to local shops, restaurants, art galleries, and waterfront attractions. Convenient access to State Route 20 supports visibility to both year-round residents and seasonal visitors.
Inside, the configuration allows for practical build-outs such as reception areas, workstations, displays, meeting space, or private offices, depending on the needs of the owner-user or tenant.
Key Highlights
- 1,463‑square‑foot commercial condominium in a well‑maintained mixed‑use development
- Open and adaptable interior layout suitable for retail, professional office, gallery, studio, and boutique service uses
- Flexible floor plan includes space for reception, workstations, displays, meeting areas, and private offices
Financial Insights For Office B
Simulate Cap Rate and NOI
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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $52.5k | $35.88 |
| − Vacancy | −$10.8k | −$7.39 |
| EGI | $41.7k | $28.49 |
| − OpEx | −$10.4k | −$7.12 |
| NOI | $31.3k | $21.37 |
1,463 SF · lease $35.88/SF/yr · vacancy 20.60% · expense 25.00%
Alternative Uses
Best Use
Office B
$446.6K
$390.7K – $521.0K
NOI $31,259 @ 7.0% cap · market cap 5.25%
Second Best
Retail
$176.5K
$154.4K – $205.9K
NOI $12,353 @ 7.0% cap · market cap 2.08%
Theoretical Best
Office A
$595.0K
$520.6K – $694.2K
NOI $41,651 @ 7.0% cap · market cap 7.00%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Retail space
FAQs
What type of property is this?
Retail space - Commercial condominium in a mixed-use development with an open, adaptable layout and generous natural light.
Where is this retail space located?
The property is located at A1-623 Morris St La Conner, WA.
What is the asking price?
The asking price for this property is $594,950.
What are key features of this property?
This property features: 1,463‑square‑foot commercial condominium in a well‑maintained mixed‑use development; Open and adaptable interior layout suitable for retail, professional office, gallery, studio, and boutique service uses; Flexible floor plan includes space for reception, workstations, displays, meeting areas, and private offices
