Property profile

1903 Freeway Dr Mount Vernon, WA 98273

OFF-MARKET
Land
2.4 ac lot
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Property summary

AI-generated overview

This exceptional 2.4-acre commercial land parcel, located at 1903 Freeway Drive in Mount Vernon, WA 98273, presents a remarkable investment opportunity. Priced at $2,100,000 ($20/SF), this property boasts a highly desirable C-2 zoning designation, allowing for a wide array of commercial uses. The mostly flat topography simplifies development, while the strategic location offers exceptional visibility from Freeway Drive and convenient access to Interstate 5. Proximity to existing retail, restaurants, and hotels further enhances its appeal. The site includes three contiguous areas totaling approximately 2.4 acres (104,720 square feet, measuring 272' x 385'), with additional adjacent parcels of 1.03 acres (44,847 SF, 151' x 297') and 0.28 acres (12,181 SF) potentially available through a short plat subdivision. Stormwater management is facilitated by offsite retention on adjacent city property. Permitted uses under the C-2 zoning include retail stores, offices, banks, hotels, restaurants, entertainment venues, vehicle sales (excluding passenger cars and trucks due to an existing agreement), gas stations, and auto repair garages. Self-storage is permitted as an accessory use. Multifamily dwellings and auto-wrecking are explicitly prohibited. This property offers significant potential for developers and investors seeking a prime location with flexible zoning and excellent accessibility. The proposed parcels are subject to a short plat subdivision.

Property profile

Verified
Property type Land
Lot 2.4 ac (104,544 SF)

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Location

1903 Freeway Dr Mount Vernon, WA 98273
Mount Vernon metro
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Value estimations

Realmo proprietary · 4 methods
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Owner & transaction history

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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