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    415 O Ave Anacortes, WA 98221

    • Amusement parks
    • 8,516 SF
    For Sale
    View listing
    $550,000
    Value Estimation
    Location Intelligence
    Property ID
    US90-1185255
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Anacortes Cinemas / Movie Theater

    Property Details for 415 O Ave

    Year built
    2001
    Property size
    8,516 SF
    Property type
    Amusement parks
    APN
    3772-033-015-0100
    APU
    37720330150100

    Description

    This exceptional commercial land opportunity in Anacortes, Washington, presents a unique investment prospect. Located at 415 O Avenue, 98221, this property is situated in a high-traffic area, a short distance from the vibrant Commercial Avenue, known for its diverse restaurants and shops. The land is currently leased to a successful three-screen cinema complex showing first-run movies and concert films, ensuring a consistent stream of revenue. The existing tenant, who wishes to remain, owns all projection equipment and is keen to continue operations. The cinema boasts a two-story lobby with recently renovated bathrooms and a food court area with significant potential for expansion and improvement. The property benefits from its proximity to several established businesses with back entrances and outdoor seating areas directly adjacent to the public parking lot shared by the cinema. The land itself is leased from the City of Anacortes, offering a stable and secure foundation for this investment. This is a rare chance to acquire a profitable, established business location in a desirable area with strong potential for future growth and development. The asking price for this exceptional opportunity is $550,000.

    Value Estimation

    by Realmo proprietary methodology Last update: July 3, 2025

    • AI approach

      CAP return
      Estimation
      Estimation
      $295,000

    • CAP approach

      CAP return
      Estimation
      6%
      $250,000
      6.5%
      $265,000
      7%
      $270,000

    • Comparable approach

      Method
      Estimation
      Relative Method
      $245,000
      Geo Method
      $255,000

    • Alternative Use

      Use
      Estimation
      Distribution
      $200,000
      Retail
      $210,000
      Mixed-Use
      $265,000
      Hospitality
      $240,000
      Educational
      $230,000
      Residential Income
      $265,000
      Energy
      $200,000
      Income-Based Land
      $215,000
      Food Service
      $265,000

    Location Insight

    • Map
    • Local Demand
    City
    Anacortes
    County
    Skagit
    State
    Washington
    Longitude
    -122.614
    Latitude
    48.5185
    CBSA code
    34580
    CBSA name
    MOUNT VERNON-ANACORTES, WA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2022
    $6,921
    $0.00
    $809,600
    $809,600
    -
    $0.00
    $809,600
    $809,600

    Comparable in this City

    • Value Estimation
      $1,590,000
      0.03 Acres

      Anacortes, WA 98221

      AMUSEMENT PARK • 0.03 Acres
      Anacortes, WA 98221
      View Details
    • Value Estimation by Request
      2.10 Acres

      5554 Edens Rd

      RECREATIONAL, ENTERTAINMENT • 2.10 Acres
      5554 Edens Rd, Anacortes, WA 98221
      View Details
    • Value Estimation by Request
      3.07 Acres

      Anacortes, WA 98221

      RECREATIONAL, ENTERTAINMENT • 3.07 Acres
      Anacortes, WA 98221
      View Details
    • Value Estimation by Request
      20.00 Acres

      Anacortes, WA 98221

      RECREATIONAL, ENTERTAINMENT • 20.00 Acres
      Anacortes, WA 98221
      View Details
    • Value Estimation by Request
      0.33 Acres

      Anacortes, WA 98221

      THEATER (MOVIE) • 0.33 Acres
      Anacortes, WA 98221
      View Details
    • Value Estimation by Request
      50.00 Acres

      Anacortes, WA 98221

      RECREATIONAL, ENTERTAINMENT • 50.00 Acres
      Anacortes, WA 98221
      View Details

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    415 O Ave
    Anacortes, WA 98221
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    Realmo Value Estimation

    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.

    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.

    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
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