Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    2201 Riverside Dr Mount Vernon, WA 98273-5403
    Back to Search
    Property profile & analytics

    2201 Riverside Dr, Mount Vernon, WA 98273-5403

    View on Map
    • Automotive properties
    • 1,782 SF
    • 0.82 lot acres
    Off-Market
    Last Sale Jun 21, 2022
    $342,000
    Property ID
    US90-0540525
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Automotive properties

    Property Details for 2201 Riverside Dr

    Year built
    1977
    Lot size
    0.82 lot acres
    Property type
    Automotive properties
    APN
    340418-1-007-0007
    APU
    34041810070007

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Jun 21, 2022 — Jwe Riverside LLC Joseph W Engberg Quit Claim Deed · related —
    Jul 1, 2010 — Joseph W Engberg Engberg,khirstie A Quit Claim Deed · related $330k · Johnson A E & E W Tr (pt)
    Jul 1, 2010 $342,000 Joseph W Engberg Johnson Eileen W Trust Grant Deed —

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Mount Vernon
    County
    Skagit
    State
    Washington
    Longitude
    -122.336
    Latitude
    48.4406
    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
    $7,716
    $525,400
    $57,100
    $582,500
    -
    $525,400
    $57,100
    $582,500

    Comparable in this City

    • Value Estimation
      $1,415,000
      15,600 SF

      506 Jacks Ln

      VEHICLE SALES, RENTALS
      506 Jacks Ln, Mount Vernon, WA 98273-4512
      View Details
    • Value Estimation
      $620,000
      2,880 SF

      1715 College Way

      VEHICLE SALES, RENTALS
      1715 College Way, Mount Vernon, WA 98273-5610
      View Details
    • Value Estimation by Request
      1,200 SF

      1200 Riverside Dr

      VEHICLE SALES, RENTALS
      1200 Riverside Dr, Mount Vernon, WA 98273-2438
      View Details
    • Value Estimation
      $690,000
      4,720 SF

      Mount

      VEHICLE SALES, RENTALS
      Mount, Vernon, WA 98273
      View Details
    • Value Estimation
      $3,940,000
      1,860 SF

      Mount

      VEHICLE SALES, RENTALS
      Mount, Vernon, WA 98273
      View Details
    • Value Estimation
      $3,905,000
      2.50 Acres

      1100 Fwy Dr

      VEHICLE SALES, RENTALS
      1100 Fwy Dr, Mount Vernon, WA 98273-9634
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      4,800 SF

      Downtown Office Building with Parking

      Downtown Mount Vernon office building with parking lot included.
      317 S 2Nd St, Mount Vernon, WA 98273
      View Details
    • $1,105,600
      4,800 SF

      Downtown Office Building with Parking

      Downtown Mount Vernon office building with parking lot included.
      317 2Nd St, Mount Vernon, WA 98273
      View Details
    • Contact for pricing

      Mount Vernon Commercial Property Opportunity

      Versatile property with shop, home, and high visibility.
      2401 Old Highway 99 S Rd, Mount Vernon, WA 98273
      View Details
    • Contact for pricing

      Commercial Land on College Way

      High-visibility commercial land with utilities in Mount Vernon, WA.
      3740 E College Way, Mount Vernon, WA 98273
      View Details
    • Contact for pricing
      3,260 SF

      Prime Development Site I-5 Visibility

      Commercial land with excellent I-5 visibility, development potential.
      1901 Freeway Dr, Mount Vernon, WA 98273
      View Details
    • Contact for pricing

      West Mt Vernon Bar/Restaurant ForSale

      Bar and restaurant with tenant, excellent opportunity for rent increases.
      720 W Division St, Mount Vernon, WA 98273
      View Details

    Similar Nearby for Lease

    • $5,600 /Mo
      5,000 SF

      Versatile Commercial Space For Rent

      5000 SF commercial space suitable for auto repair and more.
      14601 River Bend Rd, Mount Vernon, WA 98273
      View Details
    • Contact for pricing
      5,000 SF

      Versatile Commercial Space For Rent

      5000 sqft commercial space suitable for various business operations.
      14601 River Bend Rd, Mount Vernon, WA 98273
      View Details
    • $1,662 /Mo
      1,662 SF

      Mount Vernon Office/Retail Space

      Office/retail space near Skagit County Courthouse and I-5.
      607 2Nd St, Mount Vernon, WA 98273
      View Details
    • $24,000
      24,000 SF

      Prime Retail Space on College

      High-visibility retail spaces available in Mount Vernon's commercial core.
      526 College Way, Mount Vernon, WA 98273
      View Details
    • $5,208 /Mo
      2,500 SF

      Retail Space Near College Way

      2,500 SF retail space with easy freeway access.
      1626 Freeway Dr, Mount Vernon, WA 98273
      View Details
    • Contact for pricing

      Freeway Drive Commercial Building

      4,800 +/- SF building with easy freeway access.
      1626 Freeway Dr, Mount Vernon, WA 98273
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    2201 Riverside Dr
    Mount Vernon, WA 98273-5403
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    2201 Riverside Dr, Mount Vernon, WA, 98273
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!