Your AI Navigator in Commercial Real Estate
Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    Property profile & analytics

    1009 24th St Anacortes, WA 98221

    • Theaters & concert halls
    • 2,427 SF
    • 0.11 lot acres
    OFF-MARKET
    Last Sale
    Sep 23, 2021
    $1,739,569
    Value Estimations
    $2,240,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US90-1248880
    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

    • Theaters & concert halls

    Property Details for 1009 24th St

    Year built
    1998
    Lot size
    0.11 lot acres
    Property size
    2,427 SF
    Property type
    Theaters & concert halls
    APN
    3788-009-005-0008
    APU
    37880090050008

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $2,240,000
      ML approach
      $1,880,000

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Anacortes
    County
    Skagit
    State
    Washington
    Longitude
    -122.613
    Latitude
    48.5026
    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
    $2,840
    $137,500
    $194,400
    $331,900
    -
    $137,500
    $194,400
    $331,900

    Comparable in this City

    • Value Estimation
      $1,095,000
      3,736 SF

      2000 R Ave

      THEATER (MOVIE) • 3,736 SF
      2000 R Ave, Anacortes, WA 98221-2537
      View Details
    • Value Estimation
      $315,000
      2,460 SF

      1012 9th St

      THEATER (MOVIE) • 2,460 SF
      1012 9th St, Anacortes, WA 98221-4122
      View Details
    • Value Estimation
      $300,000
      0.33 Acres

      Anacortes, WA 98221

      THEATER (MOVIE) • 0.33 Acres
      Anacortes, WA 98221
      View Details
    • Value Estimation
      $2,240,000
      0.08 Acres

      Anacortes, WA 98221

      THEATER (MOVIE) • 0.08 Acres
      Anacortes, WA 98221
      View Details
    • Value Estimation
      $335,000
      10,637 SF

      1102 Commercial Ave

      THEATER (MOVIE) • 10,637 SF
      1102 Commercial Ave, Anacortes, WA 98221-4124
      View Details
    • Value Estimation by Request
      15,323 SF

      1405 Commercial Ave

      THEATER (MOVIE) • 15,323 SF
      1405 Commercial Ave, Anacortes, WA 98221-2232
      View Details

    Similar Nearby for Sale

    • $5,995,000
      12,627 SF

      Retail Building with Leaseback Opportunity

      12,627 SF retail building with a new 10-year lease.
      1609 R Ave, Anacortes, WA 98221
      View Details
    • $550,000

      415 O Ave, Anacortes, WA 98221

      Commercial real estate
      415 O Ave, Anacortes, WA 98221
      View Details
    • $1,350,000

      Anacortes Commercial Land & House

      Prime Hwy 20 location, 3+ acres, 2560 sq ft house
      9308 Padilla Heights Rd, Anacortes, WA 98221
      View Details
    • $6,750,000

      Anacortes Land with Development Potential

      Upland and tidelands property near Tommy Thompson Trail.
      309 34Th St, Anacortes, WA 98221
      View Details
    • $1,250,000
      87,991 SF

      Residential Development Land Near Ferry

      Land suitable for residential development near the Washington State Ferry.
      5320 Ferry Terminal Rd, Anacortes, WA 98221
      View Details
    • $2,495,000
      6,965 SF

      Anacortes Investment Opportunity

      Mixed-use property with restaurant, apartments, retail, and houses for sale.
      2001 Commercial Ave, Anacortes, WA 98221
      View Details

    Similar Nearby for Lease

    • $6,000 /Mo
      4,817 SF

      Anacortes Commercial Buildings For Lease

      Two buildings with office, store, and shop/warehouse spaces available.
      2603-2619 Commercial Ave, Anacortes, WA 98221
      View Details
    • Contact for pricing
      1,443 SF

      Commercial Avenue Office Space

      Office space available on Commercial Avenue in Anacortes, WA.
      519 Commercial Ave, Anacortes, WA 98221
      View Details
    • $36 SF/Yr
      4,237 SF

      Retail Space in Anacortes Core

      Prime retail space with high visibility and strong tenant mix.
      1700-1720 Commercial Ave, Anacortes, WA 98221
      View Details
    • $24 SF/Yr
      296 SF

      Anacortes Office Space For Rent

      Professional office space available near State Route 20 in Anacortes.
      1015 14Th St, Anacortes, WA 98221
      View Details
    • $30 SF/Yr
      28,499 SF

      Anacortes Professional Center Suites

      Class A Office Space, Prime Location
      317 Commercial Ave, Anacortes, WA 98221
      View Details
    • $6,000 /Mo
      4,817 SF

      Anacortes Commercial Corner Property

      Highly visible retail/office/industrial property in Anacortes' commercial district.
      2615 Commercial Ave, Anacortes, WA 98221
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    1009 24th St
    Anacortes, WA 98221
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.