Back to Search
Property profile & analytics
FOR LEASE
Retail space
2603 Commercial Ave Anacortes, WA 98221
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US90-0087060
No photos on file
For Lease
$2,408,500 SF/Yr
2603 Commercial Ave, Anacortes, WA 98221
View Listing →
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1920
Total area
1,140 SF
Lot
0.26 ac (11,160 SF)
APN
3794-005-003-0000
UPID
US90-0087060
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
-
Shear Joy Salon Hair Salon
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.44M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.51M
Owner & transaction history
South Monroe LLC · 4 yrs held
South Monroe LLC
since 2022
Last sale
$1.6M
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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 Anacortes submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Anacortes 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
$1,400,000
ML approach
$1,435,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$1.51M
Range $1.36M – $1.66M · ±10% · vs last sale $1.60M (Jan 31 2022)
Last sale anchor
$1.60M
Jan 31 2022
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
$1,325 / 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 2023Property tax & assessments
Tax year 2023
Tax billed
$4,373
Tax year 2023
Assessed value
$589,600
Assessed 2022
Previous assessed
$474,600
+24.2% YoY
Effective rate
0.74%
On assessed value
Assessed land
$525,900
Assessed improvement
$63,700
Land market value
$525,900
Improvement market value
$63,700
Total market value
$589,600
Applied tax rate
900.0000
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
For Lease
Year built
1920
Heating
NONE
Total area
1,140 SF
Lot
0.26 ac (11,160 SF)
APN
3794-005-003-0000
UPID
US90-0087060
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
Building & site characteristics
From public records
Year built
1920
Heating
NONE
Lot
0.26 ac
Current owner
From public records · entity-resolved
South Monroe LLC
Entity
Mailing address
8210 NE 166TH ST, KENMORE, WA 98028-1656
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
10 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 31, 2022
$1,600,000
South Monroe LLC
Smw Properties LLC
Warranty Deed
—
Feb 5, 2007
$1,350,000
Smw Properties LLC
Greenfield Properties
Warranty Deed
$1,149,802 · Skagit State Bank
Feb 5, 2007
$4,719
Island Rentals & Supply LLC
Island Rentals INC
Grant Deed
related
—
Dec 19, 1995
—
Greenfield Properties LP
Greenfield,roland H & Maxine C
Quit Claim Deed
related
—
—
—
Smw Properties LLC
—
Deed Of Trust
related
$972,233 · Skagit State Bank
—
—
Smw Properties LLC
—
Deed Of Trust
related
$972,233 · Skagit State Bank
—
—
Smw Properties LLC
—
Deed Of Trust
related
$495,000 · Rural Housing & Community Dev
—
—
Smw Properties LLC
—
Deed Of Trust
related
$44,900 · Skagit Bk
—
—
Greenfield Properties INC
—
Deed Of Trust
related
$50,000 · Whidbey Island Bank
—
—
Greenfield Properties
—
Deed Of Trust
related
$35,000 · Whidbey Island Bank
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
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
