1411 Commercial Ave Anacortes, WA 98221
- Lifestyle centers
- 15,379 SF
Current Use by Public Records
- Edward Jones - Financial Advisor: Jonathan R Montes, CFP® / Finance Broker / Investment Service
Property Details for 1411 Commercial Ave
- Year built
- 1979
- Property size
- 15,379 SF
- Property type
- Lifestyle centers
- Property subtype
- Power centers
Description
This exceptional 15,379 square foot shopping center, located at 1411 Commercial Ave in Anacortes, WA 98221, presents a compelling investment opportunity. Boasting a 90% occupancy rate across its seven units, the property generates a strong pro-forma NOI of $221,531. Built in 1979, this single-story, 14,394 square foot net rentable building sits on a sizable 33,050 square foot lot and offers ample parking with 38 spaces. The property is zoned for commercial use and benefits from its location on Anacortes' main commercial corridor, Commercial Avenue, which sees an average daily traffic count of 14,000 vehicles, ensuring high visibility and accessibility. The strong tenant mix and long-term leases contribute to the property's consistent performance and attractive return on investment. This multi-tenant retail center is a highly desirable asset in a thriving Anacortes location, offering a stable income stream and significant potential for future growth. The property's prime location and established tenancy make it an ideal investment for those seeking a well-performing retail asset in a desirable market. The asking price is $4,000,000, and the lease type is NNN.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Anacortes
- County
- Skagit
- State
- Washington
- Longitude
- -122.612
- Latitude
- 48.5105
