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Property profile & analytics
FOR LEASE
Outlet malls
201 E College Way Mount Vernon, WA 98273
Entity Owned
11-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US90-1660497
For Lease
Contact for pricing
201 E College Way, Mount Vernon, WA 98273
View Listing →
Property profile
Verified
Property type
Outlet malls
Use group
WHOLESALE OUTLET, DISCOUNT STORE
Year built
1970
Total area
50,624 SF
Lot
5.57 ac (242,629 SF)
APN
8005-000-002-0001
UPID
US90-1660497
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
Current use
Occupant on record · Public records
-
Just Food For Dogs (Bike/Boat/Book/etc) Store Pet Store & Service
-
CDReload - Online Bitcoin ATM Crypto Atm Atm
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$6.58M
Comparable Approach
Comparable
$6.84M
Blend (final)
Blend
$5.88M
Owner & transaction history
Mvsh LLC · 11 yrs held
Mvsh LLC
since 2014
6 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Apartment house (5+ units)
$9.0M
+12.9%
Office building
$8.6M
+7.3%
Commercial (general)
$8.3M
+3.9%
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
by Request
CAP Approach
CAP Return
Estimation
6%
$7,125,000
6.5%
$6,575,000
7%
$6,105,000
Alternative Use
Use
Estimation
RETAIL STORES
$8,010,000
Current use
APARTMENT HOUSE (5+ UNITS)
$9,045,000
Change: +13% · Conversion: Difficult
OFFICE BUILDING
$8,590,000
Change: +7% · Conversion: Easy
COMMERCIAL (GENERAL)
$8,320,000
Change: +4% · Conversion: Easy
INDUSTRIAL (GENERAL)
$7,205,000
Change: -10% · Conversion: Difficult
WAREHOUSE, STORAGE
$6,615,000
Change: -17% · Conversion: Difficult
Blend value · Realmo final
$5.88M
Range $5.29M – $6.46M · ±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
$116 / 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
$69,831
Tax year 2022
Assessed value
$5,274,500
Assessed 2021
Previous assessed
$5,274,500
+0.0% YoY
Effective rate
1.32%
On assessed value
Assessed land
$2,251,900
Assessed improvement
$3,022,600
Land market value
$2,251,900
Improvement market value
$3,022,600
Total market value
$5,274,500
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
Outlet malls
Use group
WHOLESALE OUTLET, DISCOUNT STORE
Status
For Lease
Year built
1970
Heating
NONE
Stories
1
Total area
50,624 SF
Lot
5.57 ac (242,629 SF)
APN
8005-000-002-0001
UPID
US90-1660497
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
RETAIL STORES Current
Est. value
$8.0M
APARTMENT HOUSE (5+ UNITS)
Est. value
$9.0M
OFFICE BUILDING
Est. value
$8.6M
COMMERCIAL (GENERAL)
Est. value
$8.3M
INDUSTRIAL (GENERAL)
Est. value
$7.2M
WAREHOUSE, STORAGE
Est. value
$6.6M
RETAIL STORES Current
APARTMENT HOUSE (5+ UNITS)
OFFICE BUILDING
COMMERCIAL (GENERAL)
INDUSTRIAL (GENERAL)
WAREHOUSE, STORAGE
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
1970
Heating
NONE
Stories
1
Lot
5.57 ac
Current owner
From public records · entity-resolved
Mvsh LLC
Entity
Mailing address
7325 166TH AVE NE STE F260, REDMOND, WA 98052-7708
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2014
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 14, 2014
—
Mvsh LLC
Mt Vernon Office Pet Ptrs LP
Grant Deed
$6,580,000 · Miscellaneous Ins Co
Jul 23, 1998
—
Mt Vernon Office Pet Partners
—
Deed Of Trust
related
$3,425,000 · Wells Fargo Bank
Jul 16, 1998
—
Vernon Pad Partners LP Mt
42nd/geary Partners LP
Grant Deed
related
—
Jul 1, 1998
—
Mt Vernon Office Pet Partners
42nd Geary Partners LP
Grant Deed
related
—
Jul 11, 1997
$2,210,457
42nd/geary Partners LP
Safeway INC
Grant Deed
$4,640,837 · Wells Fargo Bank
—
—
Mt Vernon Office Pet Ptrs
—
Deed Of Trust
related
$5,500,000 · Merrill Lynch Com'l Finance
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.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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