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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    3119 Commercial Ave Anacortes, WA 98221-2741

    • Office buildings
    • 1,515 SF
    • 0.21 lot acres
    OFF-MARKET
    Last Sale
    Nov 30, 2023
    $706,000
    Value Estimations
    $630,000
    Show details
    Cap Rate Potential
    5.4%
    Office buildings
    Location Intelligence
    Property ID
    US90-0138434
    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.

    Current Use by Public Records

    • Esther Spence-Crabb/Cornerstone Home Lending / Mortgage Lender / Mortgage Broker
    • Diedrich Espresso Anacortes / Coffee Shop
    • Trust Accounting Center / Accountant

    Property Details for 3119 Commercial Ave

    Year built
    1900
    Lot size
    0.21 lot acres
    Property size
    1,515 SF
    Property type
    Office buildings
    APN
    3838-003-013-0001
    APU
    38380030130001

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $635,000
      ML approach
      $685,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $575,000
      6.5%
      $530,000
      7%
      $495,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $531,000
      Market price range: $214k - $532k

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $415,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Anacortes
    County
    Skagit
    State
    Washington
    Longitude
    -122.612
    Latitude
    48.4966
    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
    2023
    $4,422
    $453,200
    $143,000
    $596,200
    -
    $453,200
    $143,000
    $596,200

    Comparable in this City

    • Value Estimation
      $575,000
      1,664 SF

      8674 March Pt Rd

      OFFICE BUILDING • 1,664 SF
      8674 March Pt Rd, Anacortes, WA 98221-8688
      View Details
    • Value Estimation
      $790,000
      4,334 SF

      502 O Ave

      OFFICE BUILDING • 4,334 SF
      502 O Ave, Anacortes, WA 98221
      View Details
    • Value Estimation by Request
      2.18 Acres

      1213 24th St

      PROFESSIONAL BUILDING • 2.18 Acres
      1213 24th St, Anacortes, WA 98221-2592
      View Details
    • Value Estimation
      $1,475,000
      4,750 SF

      912 32nd St

      PROFESSIONAL BUILDING • 4,750 SF
      912 32nd St, Anacortes, WA 98221-3473
      View Details
    • Value Estimation
      $1,235,000
      3,972 SF

      2201 Skyline Way

      OFFICE BUILDING • 3,972 SF
      2201 Skyline Way, Anacortes, WA 98221-2986
      View Details
    • Value Estimation by Request
      1,060 SF

      2705 Commercial Ave

      OFFICE BUILDING • 1,060 SF
      2705 Commercial Ave, Anacortes, WA 98221-2733
      View Details

    Similar Nearby for Sale

    • $450,000

      Forested Land with Utilities Ready

      5.2-acre property with utilities, ready for development.
      3596 Green Cliffs Rd, Anacortes, WA 98221
      View Details
    • $3,850,000

      Skagit County Commercial/Industrial Land Opportunity

      Prime commercial/industrial land with established business and expansion potential.
      12469 Reservation Rd, Anacortes, WA 98221
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    • $3,150,000

      Downtown Anacortes Development Opportunity

      30,000 SF corner lot in downtown Anacortes.
      911-919 Commercial Ave, Anacortes, WA 98221
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    • $1,250,000

      Commercially Zoned Land for Sale

      8.53 acres of commercially zoned land in Anacortes, Washington.
      7648 State Route 20, Anacortes, WA 98221
      View Details
    • $3,150,000

      Downtown Anacortes Development Opportunity

      30,000 SF corner lot in downtown Anacortes.
      911 Commercial Ave, Anacortes, WA 98221
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    • $965,000
      12,987 SF

      High Visibility Corner Lot

      Prime corner lot with income-producing NNN ground lease.
      1120 Commercial Ave, Anacortes, WA 98221
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    Similar Nearby for Lease

    • $30 SF/Yr
      28,499 SF

      Anacortes Professional Center Suites

      Class A Office Space, Prime Location
      317 Commercial Ave, Anacortes, WA 98221
      View Details
    • $6,000 /Mo
      4,817 SF

      Anacortes Commercial Corner Property

      Highly visible retail/office/industrial property in Anacortes' commercial district.
      2615 Commercial Ave, Anacortes, WA 98221
      View Details
    • Contact for pricing
      1,443 SF

      Commercial Avenue Office Space

      Office space available on Commercial Avenue in Anacortes, WA.
      519 Commercial Ave, Anacortes, WA 98221
      View Details
    • $24 SF/Yr
      296 SF

      Anacortes Office Space For Rent

      Professional office space available near State Route 20 in Anacortes.
      1015 14Th St, Anacortes, WA 98221
      View Details
    • $36 SF/Yr
      3,400 SF

      Anacortes Professional Center Retail/Office Space

      Office or retail space in Old Town Anacortes with high visibility.
      317 Commercial Ave, Anacortes, WA 98221
      View Details
    • $16 SF/Yr
      16,214 SF

      Retail Space in Historic Downtown

      16,214 SF retail building in Anacortes' historic downtown.
      1517-1519 Commercial Ave, Anacortes, WA 98221
      View Details
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    Anacortes, WA 98221-2741
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    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
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