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Property profile & analytics
OFF-MARKET Estimated value $990,000
Retail space

1909 2nd St Mount Vernon, WA 98273-5207

6,760 SF 1.29 ac lot Built 1900
Entity Owned 4-yr Hold ~ Est. High Equity
Property ID
US90-2974693
Property summary
AI-generated overview

This exceptional Mount Vernon, WA investment opportunity presents a unique blend of retail and multifamily potential. Situated on a generous 2.06-acre lot at 1909 S 2nd Street, this property boasts a substantial 6,760 square foot building, encompassing both retail and residential spaces. The main structure, built in 1959, is a two-story building offering ample space for various commercial ventures. The property also includes a separate shop building, adding to its versatility. Further enhancing its appeal is a 1908 two-story rental house, providing additional income streams. The property features 30 parking spaces, a significant advantage for both tenants and customers. Its strategic location near I-5 and access from two major roads offers excellent visibility and accessibility, making it ideal for a variety of uses. The property's zoning and potential for redevelopment should be explored. This property is located in a Federal Opportunity Zone, presenting additional investment incentives. With a total asking price of $999,999, and a price per square foot of $147.93, this property offers a compelling return on investment. The APN is P53491. This is a rare opportunity to acquire a substantial mixed-use property in a thriving Washington state location. Serious inquiries are encouraged to explore the full potential of this remarkable asset.

Property profile
Verified
Property type Retail space
Use group RETAIL STORES (PERSONAL SERVICES)
Year built 1900
Total area 6,760 SF
Lot 1.29 ac (56,192 SF)
APN 3739-008-006-0009
UPID US90-2974693
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
$1.21M
CAP Approach CAP
$880k
Comparable Approach Comparable
$886k
Blend (final) Blend
$990k
Owner & transaction history
Project 2 LLC · 4 yrs held
Project 2 LLC
since 2021
Last sale
$990,000
1 recorded transaction
2021
$990,000
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage $1.6M +52.5%
Restaurant $1.4M +33.1%
Apartment house (5+ units) $1.2M +12.9%
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