1331 2Nd St Mount Vernon, WA 98273

Property Details for 1331 2Nd St

Year built

1939

Lot size

0.32 lot acres

Property size

2,612 SF

Property type

Grocery and convenience stores

APN

3720-004-008-0007

APU

37200040080007

Description

This exceptional investment opportunity presents a thriving Mount Vernon, WA, commercial property encompassing a 2,612 square foot convenience store and grocery store. Located at 1331 S 2nd St, 98273, this single-story building sits on a substantial 13,769 square foot lot in a prime downtown location. The property boasts a strong pro-forma NOI of $185,279, translating to a compelling 16.84% pro-forma cap rate and a price per square foot of $421.13. The asking price is $1,100,000. Adding to the investment's appeal are two additional income streams: a leased Indian restaurant generating $2,000 monthly rent and a leased apartment providing $1,000 in monthly rent. These supplemental income sources contribute significantly to the overall profitability of the property. The property's strategic location within Mount Vernon's bustling downtown ensures high visibility and consistent foot traffic, making it an ideal investment for discerning buyers seeking a diversified and high-return portfolio addition. The property is well-maintained and ready for immediate ownership. This is a rare opportunity to acquire a multi-faceted commercial property with significant income potential in a desirable location.

Location Insight

City

Mount Vernon

County

Skagit

State

Washington

Longitude

-122.338

Latitude

48.4121

CBSA code

34580

CBSA name

MOUNT VERNON-ANACORTES, WA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments