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Property profile & analytics
FOR SALE
Office Spaces
1503 Riverside Dr Mount Vernon, WA 98273
Individually Owned
1-yr Hold
Absentee Owner
Free & Clear
Property ID
US90-0469831
For Sale
1 / 7
$950,000
1503 Riverside Dr, Mount Vernon, WA 98273
View Listing →
Property summary
AI-generated overview
This exceptional commercial property, located at 1503 Riverside Drive in Mount Vernon, Washington, presents a unique investment opportunity. The 3,109 square foot building sits on a 0.57-acre lot, offering ample space and potential for various commercial uses. Built in 1977, the structure is zoned C-2 (General Commercial District), providing flexibility for a range of businesses. Its convenient location on Riverside Drive ensures easy access to Interstate 5, specifically exit 227/College Way, enhancing visibility and accessibility for customers and employees. The property benefits from its proximity to Mount Vernon's thriving retail sector, placing it within a bustling commercial area. This single-building property offers a solid foundation for a new business venture or a strategic addition to an existing portfolio. The asking price is $659,000. All information is believed to be accurate but should be independently verified.
Property profile
Verified
Property type
Office Spaces
Use group
OFFICE (GENERAL)
Year built
1977
Total area
3,109 SF
Lot
0.57 ac (24,829 SF)
APN
340418-4-003-1102
UPID
US90-0469831
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$345k
CAP Approach
CAP
$450k
Comparable Approach
Comparable
$527k
Blend (final)
Blend
$515k
Owner & transaction history
Ma Cardenas Jose · 1 yrs held
Ma Cardenas Jose
since 2024
4 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$750,000
+46.7%
Office building
$530,000
+3.2%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Mount Vernon submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Mount Vernon submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
$345,000
CAP Approach
CAP Return
Estimation
6%
$485,000
6.5%
$450,000
7%
$415,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$510,000
Current use
AUTO REPAIR, GARAGE
$750,000
Change: +47% · Conversion: Difficult
OFFICE BUILDING
$530,000
Change: +3% · Conversion: Easy
RETAIL STORES
$490,000
Change: -4% · Conversion: Easy
Blend value · Realmo final
$515k
Range $464k – $567k · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$166 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2022Property tax & assessments
Tax year 2022
Tax billed
$8,895
Tax year 2022
Assessed value
$671,500
Assessed 2021
Previous assessed
$671,500
+0.0% YoY
Effective rate
1.32%
On assessed value
Assessed land
$397,300
Assessed improvement
$274,200
Land market value
$397,300
Improvement market value
$274,200
Total market value
$671,500
Applied tax rate
930.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Office Spaces
Use group
OFFICE (GENERAL)
Status
For Sale
Year built
1977
Heating
NONE
Stories
1
Total area
3,109 SF
Lot
0.57 ac (24,829 SF)
APN
340418-4-003-1102
UPID
US90-0469831
Jurisdiction
SKAGIT
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL) Current
Est. value
$510,000
AUTO REPAIR, GARAGE
Est. value
$750,000
OFFICE BUILDING
Est. value
$530,000
RETAIL STORES
Est. value
$490,000
COMMERCIAL (GENERAL) Current
AUTO REPAIR, GARAGE
OFFICE BUILDING
RETAIL STORES
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1977
Heating
NONE
Stories
1
Lot
0.57 ac
Current owner
From public records · entity-resolved
Ma Cardenas Jose
Individual
Free & Clear · 1 yrs held
Mailing address
425 PIKE ST, SEATTLE, WA 98101-3902
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 24, 2024
—
Ma Cardenas Jose
Martha E Ibarra Macias
Quitclaim Deed
—
Nov 19, 2010
—
Fedl S Washington
Horizon Bank Bellingham Wa
Grant Deed
—
Dec 31, 2008
—
Horizon Bk
Horizon Finl Corp
Quit Claim Deed
related
—
Sep 24, 2008
—
Horizon Financial Corp
Horizon Bank
Quit Claim Deed
related
—
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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