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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1969 Marketplace Dr Burlington, WA 98233-3206

    • Outlet malls
    • 22,770 SF
    • 2.83 lot acres
    OFF-MARKET
    Value Estimations
    $2,190,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US90-1769316
    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

    • Banfield Pet Hospital / Veterinary Clinic
    • PetSmart / (Bike/Boat/Book/etc) Store / Pet Store & Service
    • PetSmart Grooming / Pet Grooming Service
    • PetSmart Dog Training / Animal Training
    • Dr. Shannon Little / Veterinary Clinic

    Property Details for 1969 Marketplace Dr

    Year built
    2004
    Lot size
    2.83 lot acres
    Property size
    22,770 SF
    Property type
    Outlet malls
    APN
    8064-000-002-0000
    APU
    80640000020000

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $3,205,000
      6.5%
      $2,960,000
      7%
      $2,745,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $2,938,000
      Market price range: $746k - $2.94M

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

    Location Insight

    • Map
    • Local Demand
    City
    Burlington
    County
    Skagit
    State
    Washington
    Longitude
    -122.34
    Latitude
    48.4491
    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
    $54,575
    $2,774,200
    $2,994,700
    $5,768,900
    -
    $2,774,200
    $2,994,700
    $5,768,900

    Comparable in this City

    • Value Estimation
      $15,595,000
      148,868 SF

      1725 Burlington Blvd

      WHOLESALE OUTLET, DISCOUNT STORE • 148,868 SF
      1725 Burlington Blvd, Burlington, WA 98233-3223
      View Details
    • Value Estimation
      $1,240,000
      16,000 SF

      1303 Anacortes St

      WHOLESALE OUTLET, DISCOUNT STORE • 16,000 SF
      1303 Anacortes St, Burlington, WA 98233
      View Details
    • Value Estimation
      $830,000
      10,600 SF

      Sharon Ave

      WHOLESALE OUTLET, DISCOUNT STORE • 10,600 SF
      Sharon Ave, Burlington, WA 98233
      View Details
    • Value Estimation
      $830,000
      10,600 SF

      Sharon Ave

      WHOLESALE OUTLET, DISCOUNT STORE • 10,600 SF
      Sharon Ave, Burlington, WA 98233
      View Details
    • Value Estimation
      $630,000
      7,695 SF

      Sharon Ave

      WHOLESALE OUTLET, DISCOUNT STORE • 7,695 SF
      Sharon Ave, Burlington, WA 98233
      View Details
    • Value Estimation
      $8,300,000
      110,228 SF

      1550 Burlington Blvd

      WHOLESALE OUTLET, DISCOUNT STORE • 110,228 SF
      1550 Burlington Blvd, Burlington, WA 98233-3220
      View Details

    Similar Nearby for Sale

    • $4,150,000

      Retail Center with Long-Term Leases

      Two-tenant retail center with established national tenants.
      910-914 S Burlington Blvd, Burlington, WA 98233
      View Details
    • $4,360,000
      15,099 SF

      Burlington Retail Center Investment

      High-Occupancy Retail Center in WA
      910 Burlington Blvd, Burlington, WA 98233
      View Details
    • $1,500,000
      4,298 SF

      Burlington Blvd Retail Opportunity

      Prime retail storefront, high visibility.
      1126 Burlington Blvd, Burlington, WA 98233
      View Details
    • $497,000
      1,268 SF

      Mixed-Use Commercial Building on Burlington Blvd

      1,268 SF mixed-use building on a 6,110 SF lot.
      280 North Burlington Blvd, Burlington, WA 98233
      View Details
    • $1,500,000
      4,298 SF

      Retail Building Near Cascade Mall

      4,298 SF retail building on 1.21 acres for sale.
      1126 South Burlington Blvd, Burlington, WA 98233
      View Details
    • $572,250

      Retail Building Near I-5 Exit

      Retail building with parking, near highway and shopping centers.
      301 E Rio Vista Ave, Burlington, WA 98233
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      3,000 SF

      Retail Space in Power Center

      Highly visible retail space available in Burlington power center.
      1809-2050 Marketplace Dr, Burlington, WA 98233
      View Details
    • Contact for pricing
      123,354 SF

      Available Retail Suites in Burlington

      123,354 SF of retail space for lease.
      201 Cascade Mall Dr, Burlington, WA 98233
      View Details
    • Contact for pricing
      446,430 SF

      Burlington Gallery Retail Space

      Prime I-5 Corridor Retail Opportunity
      201 Cascade Mall Dr, Burlington, WA 98233
      View Details
    • $22 SF/Yr
      13,809 SF

      Retail Space in High-Visibility Center

      Retail space available in a highly visible shopping center.
      2000 S Burlington Blvd, Burlington, WA 98233
      View Details
    • $14 SF/Yr
      5,360 SF

      Retail Space in Burlington Plaza

      Retail space for lease in redeveloped Burlington Plaza.
      200-496 Fashion Way, Burlington, WA 98233
      View Details
    • $18 SF/Yr
      9,888 SF

      Burlington Blvd Executive Office Space

      Prime Burlington Office/Retail Opportunity
      815 Burlington Blvd, Burlington, WA 98233
      View Details

    Property Visit Statistics

    • Visits by month
      46.6k
    • Visitors by month
      34.7k
    • Avg Time on site
      43 min
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    Burlington, WA 98233-3206
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    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
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