Entity Owned
No photos on file
For Lease
$1,400/Mo
2124 Riverside Dr, Mount Vernon, WA 98273
View Listing →
Property summary
AI-generated overview
The property consists of a 1,060-square-foot second-floor commercial suite located in a multi-tenant building on Riverside Drive, near the Riverside Health Club, Best Western, and Max Dales. It is zoned C-2: General Commercial District, which permits a range of business uses.
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1980
Total area
6,652 SF
Lot
1 ac (43,647 SF)
APN
340417-2-025-0004
UPID
US90-1543271
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Consultant Mortgage Lender
-
Consultant Mortgage Lender
Location
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$2.25M
CAP Approach
CAP
$2.33M
Comparable Approach
Comparable
$1.52M
Blend (final)
Blend
$2.34M
Owner & transaction history
since 2021
Last sale
$1.8M
2 recorded transactions
Zoning & alternative use
Top alternative use upside
Auto repair, garage
$1.6M
+42.1%
Restaurant
$1.4M
+24.1%
Apartment house (5+ units)
$1.2M
+5.3%
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
Value estimation
Instant AI valuation built from comps, income signals, and proprietary benchmarks. A defensible range, not a single guess.
Unlock the complete Valuation workflow
Full NOI reconstruction, selected comps, alternative-use scenarios, data audit and PDF export.
Full NOI build-up · 6 steps
3 alternative uses screened
Sensitivity value band
Source audit · 6 inputs
PDF export
Professional Plan · 30 reports
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Summary
1
Valuation conclusion
Included free
Estimated market value
$2.34M
Value range
$2.10M – $2.57M
±10% around blend
Estimated value / SF
$351 / SF
Confidence
Property data
88
Market benchmarks
100
Comparable evidence
60
Income certainty
100
$2.10M
blend $2.34M
$2.57M
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
6,652 SF
Lot area
1 ac
Year built
1980
Stories
1
APN
340417-2-025-0004
Assessed value
$1,863,900
Annual tax
$24,680
3
Income approach: direct capitalization
Partial preview
Income approach indication
$2.33M
Direct capitalization · @ 6.5% CAP return
@ 6% CAP return
$2.53M
@ 6.5% CAP return
$2.33M
@ 7% CAP return
$2.17M
Estimated Stabilized NOI, derived from market rent, vacancy and expense benchmarks. Actual property income not reported.
Estimated market rent / SF
Potential gross income
Vacancy allowance
Effective gross income
Benchmark operating expenses
Stabilized NOI
Property tax
$24,680
Selected cap rate
4
Sales comparison
Partial preview
Sales approach indication
$1.52M
Range $781k – $1.52M
Evidence
6 found
Recent peer sales in this city
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$2.34M
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Current market position
Included free
Benchmark
Observed band ($/SF)AverageSubject delta
ZIP 26 sales
$170
+107%
Submarket 41 sales
$221
+58%
County 76 sales
$230
+53%
Band = middle half (Q1–Q3) of recorded sale $/SF for this use type per geography; the diamond marks the subject at $351/SF. Delta below average reads as headroom. Source: Realmo CRE sales derivatives (county records).
7
Alternative use screening
Partial preview
Top alternative use
Auto Repair, Garage
Gross theoretical uplift
+42%
vs current-use indication
Restaurant
Apartment House (5+ Units)
Values shown before conversion costs, entitlement costs, capital expenditures and stabilization risk.
8
Data & methodology
Included free
Building area
County record
Property tax
County record
Assessed value
County record
Zoning designation
Not available
Operating expenses
Modeled
Market rent
Market benchmark
Not analyzed due to unavailable source data: actual rent roll, tenant leases, physical condition and capital
requirements are outside a desktop analysis.
Cost Approach excluded: income and sales evidence cover the value conclusion.
Automated valuation analysis, not a licensed appraisal. Figures are derived from public
records and proprietary models. Desktop analysis: no physical inspection, tenant leases or reported
property income. Verify with a licensed appraiser before transacting.
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
Unlock the complete Cap Rate workflow
Full market tables, editable assumptions, comparable evidence, saved work and exports.
9-scenario matrix
NOI build-up · 9 steps
Market rates by use type
PDF export
Professional Plan · 30 reports
from $99/month
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Overview
Selected market yield
6.50%
Selected cap rate for this office buildings
Derived from the Mount Vernon market rent, vacancy and expense benchmarks for this use type.
Lower yield / higher price
Higher yield / lower price
5.0%
This property · 6.50%
9.0%
NOI (est.)
$23k *
Last sale · Jun 2021
$1.81M
* derived from a real price signal at a 7% cap
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Test a cap rate
Implied value$348k
Move the market yield to see immediate price impact.
Value / SF
$52
Vs. selected
Base
Derivation
NOI ÷ cap
Arithmetic over the derived NOI * — not market scenario modeling.
NOI × cap matrix
Preview
Preview of 9 modeled outcomes.
NOI
6.00%6.50%7.00%
$20k
$340k
$314k
$291k
$23k
$377k
$348k
$324k
$25k
$415k
$383k
$356k
NOI sensitivity ±10% across the selected-rate band (±0.5 pp) — derivation of the NOI above.
Property tax & assessments
Tax year 2022Property tax & assessments
Tax year 2022
Tax billed
$24,680
Tax year 2022
Assessed value
$1,863,900
Assessed 2021
Previous assessed
$1,863,900
+0.0% YoY
Effective rate
1.32%
On assessed value
Assessed land
$600,200
Assessed improvement
$1,263,700
Land market value
$600,200
Improvement market value
$1,263,700
Total market value
$1,863,900
Applied tax rate
930.0000
Automated cap rate analysis. Based on public records, market benchmarks and proprietary
models. Verify with a licensed professional before transacting.
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Office buildings
Use group
OFFICE BUILDING
Status
For Lease
Year built
1980
Heating
NONE
Buildings
3
Stories
1
Total area
6,652 SF
Lot
1 ac (43,647 SF)
APN
340417-2-025-0004
UPID
US90-1543271
Jurisdiction
SKAGIT
Zoning & alternative use
Zoning · permitted uses
No zoning code is on file for this parcel. Zoning coverage grows with every catalog release.
Alternative use value scenarios
Repositioning upside vs current use
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Building & site characteristics
From public records
Year built
1980
Heating
NONE
Stories
1
Buildings
3
Lot
1 ac
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
No zoning code is on file for this parcel. Zoning coverage grows with every catalog release — check back, or open Location Intelligence for use analysis of this corner.
Ownership Intelligence
Find the owner behind the property.
Unlock the evidence behind ownership: portfolio, transactions, debt and signals that help you decide who to contact next.
What opens after registration
Ownership report
Owner identityResolved entity and name variants
Portfolio holdingsLinked properties and estimated value
Deal signalsSell-side activity worth following
Debt & historyRecorded loans and transaction history
Private report access
See the ownership record for this address.
Registration is required before any owner information is shown.
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Owner of record and activity signals are derived from public records and modeled classifications.
They do not confirm beneficial ownership or intent to transact.
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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