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Property profile & analytics
OFF-MARKET
Estimated value
$700,000
Retail space
311 College Way Mount Vernon, WA 98273-5456
Entity Owned
5-yr Hold
~
Est. High Equity
Property ID
US90-0185807
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1999
Total area
3,500 SF
Lot
0.41 ac (17,860 SF)
APN
8005-000-001-0100
UPID
US90-0185807
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
-
Northwest barber academy Vocational School Training Center
-
Nichut Smoke & Vape (Bike/Boat/Book/etc) Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$880k
CAP Approach
CAP
$455k
Comparable Approach
Comparable
$808k
Blend (final)
Blend
$700k
Owner & transaction history
Smiley Land LLC · 5 yrs held
Smiley Land LLC
since 2021
Last sale
$680,000
5 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$845,000
+52.5%
Office building
$595,000
+7.3%
Commercial (general)
$575,000
+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
$875,000
ML approach
$880,000
CAP Approach
CAP Return
Estimation
6%
$495,000
6.5%
$455,000
7%
$420,000
Alternative Use
Use
Estimation
RETAIL STORES
$555,000
Current use
AUTO REPAIR, GARAGE
$845,000
Change: +52% · Conversion: Difficult
OFFICE BUILDING
$595,000
Change: +7% · Conversion: Easy
COMMERCIAL (GENERAL)
$575,000
Change: +4% · Conversion: Easy
WAREHOUSE, STORAGE
$455,000
Change: -17% · Conversion: Difficult
Blend value · Realmo final
$700k
Range $630k – $770k · ±10% · vs last sale $680k (Jan 8 2021)
Last sale anchor
$680k
Jan 8 2021
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
$200 / 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
$9,492
Tax year 2023
Assessed value
$808,300
Assessed 2022
Previous assessed
$741,000
+9.1% YoY
Effective rate
1.17%
On assessed value
Assessed land
$253,700
Assessed improvement
$554,600
Land market value
$253,700
Improvement market value
$554,600
Total market value
$808,300
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
1999
Heating
NONE
Stories
1
Total area
3,500 SF
Lot
0.41 ac (17,860 SF)
APN
8005-000-001-0100
UPID
US90-0185807
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
$555,000
AUTO REPAIR, GARAGE
Est. value
$845,000
OFFICE BUILDING
Est. value
$595,000
COMMERCIAL (GENERAL)
Est. value
$575,000
WAREHOUSE, STORAGE
Est. value
$455,000
RETAIL STORES Current
AUTO REPAIR, GARAGE
OFFICE BUILDING
COMMERCIAL (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
1999
Heating
NONE
Stories
1
Lot
0.41 ac
Current owner
From public records · entity-resolved
Smiley Land LLC
Entity
Mailing address
1500 E COLLEGE WAY STE A, MOUNT VERNON, WA 98273-5637
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 8, 2021
—
Smiley Land LLC
Dean A Smiley
Quit Claim Deed
related
—
Dec 17, 1999
—
Smiley Properties LLC
Smiley,howard P & V R
Quit Claim Deed
related
—
Jun 1, 1999
$680,000
Howard Smiley
Mt Vernon Pad Partners LP
Grant Deed
$192,500 · Peoples Bank & Trust
Jul 16, 1998
—
Vernon Pad Partners LP Mt
42nd/geary Partners LP
Grant Deed
related
—
—
—
Smiley Properties LLC
—
Deed Of Trust
related
$250,000 · Peoples Bank & Trust
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.
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