Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    317 Commercial Ave Anacortes, WA 98221

    • Commercial real estate
    • 19,775 SF
    • 0.28 lot acres
    For Lease
    View listing
    $30 SF/Yr
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US90-1648873
    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

    • Redsail Technologies / (Bike/Boat/Book/etc) Store / Corporate Office
    • Port of Anacortes / Marina / Airport
    • North City Law PC / Law Firm
    • First Command / Financial Advisor
    • First Command Financial Advisor - Cart Ancheta / Financial Advisor

    Property Details for 317 Commercial Ave

    Year built
    1912
    Lot size
    0.28 lot acres
    Property size
    19,775 SF
    Property type
    Commercial real estate
    APN
    3772-025-014-0001
    APU
    37720250140001

    Description

    This exceptional Anacortes office complex offers 28,499 square feet of Class A space across two buildings. The property boasts a shared lobby and features a variety of suite sizes, accommodating businesses of all scales. Units range from 350 square feet to a maximum contiguous space of 11,652 square feet, with a total of 12 suites available. Currently, 16,000 square feet is vacant, presenting a significant opportunity for expansion or relocation. The center is ideally situated in Anacortes' Old Town, within the Commercial Business District, offering unparalleled convenience. Its location places businesses steps away from a vibrant array of retail and dining options, adjacent to the deep-water docks, and close to Cap Sante Marina. The property includes ample parking with 45 spaces and elevators for easy access to the two-story buildings. The zoning is designated as Commercial Business District in Skagit County. This is a rare opportunity to secure premium office space in a highly desirable location. The property is suitable for various office uses, including traditional, creative, and medical practices.

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $3,085,000
      6.5%
      $2,850,000
      7%
      $2,645,000

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $5,400,000
      Current use
      AUTO REPAIR, GARAGE
      $4,770,000
      Change: -12% Conversion: Difficult
      RETAIL STORES
      $4,760,000
      Change: -12% Conversion: Easy
      OFFICE BUILDING
      $4,540,000
      Change: -16% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Anacortes
    County
    Skagit
    State
    Washington
    Longitude
    -122.612
    Latitude
    48.5193
    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
    $33,593
    $479,900
    $4,053,500
    $4,533,400
    -
    $479,900
    $4,053,500
    $4,533,400

    Comparable in this City

    • Value Estimation by Request
      840 SF

      Anacortes, WA 98221

      MOBILE COMMERCIAL UNITS • 840 SF
      Anacortes, WA 98221
      View Details
    • Value Estimation by Request
      720 SF

      9008 Molly Ln, Unit 126

      COMMERCIAL CONDOMINUIM • 720 SF
      9008 Molly Ln, Anacortes, WA 98221
      View Details
    • Value Estimation
      $4,630,000
      32,161 SF

      719 Q Ave

      COMMERCIAL (GENERAL) • 32,161 SF
      719 Q Ave, Anacortes, WA 98221-4128
      View Details
    • Value Estimation
      $1,310,000
      5,499 SF

      715 Seafarers Way Ste, Unit 200

      COMMERCIAL (GENERAL) • 5,499 SF
      715 Seafarers Way Ste, Anacortes, WA 98221-2257
      View Details
    • Value Estimation by Request
      1,120 SF

      320 34th St

      COMMERCIAL (GENERAL) • 1,120 SF
      320 34th St, Anacortes, WA 98221-4608
      View Details
    • Value Estimation by Request
      0.21 Acres

      1008 3rd St

      COMMERCIAL (GENERAL) • 0.21 Acres
      1008 3rd St, Anacortes, WA 98221-1504
      View Details

    Similar Nearby for Sale

    • $1,350,000

      Anacortes Commercial Land & House

      Prime Hwy 20 location, 3+ acres, 2560 sq ft house
      9308 Padilla Heights Rd, Anacortes, WA 98221
      View Details
    • $550,000

      415 O Ave, Anacortes, WA 98221

      Commercial real estate
      415 O Ave, Anacortes, WA 98221
      View Details
    • $1,250,000

      Anacortes Waterfront Commercial Land

      Prime Waterfront Lot, Industrial Zoning
      1502 5Th St, Anacortes, WA 98221
      View Details
    • $4,995,000

      Keystone Building: Anacortes Gem

      Historic Downtown Commercial Property, High Potential
      619 Commercial Ave, Anacortes, WA 98221
      View Details
    • $3,850,000

      Established Anacortes Business & Land

      Profitable business, prime location, expansion potential.
      12469 Reservation Rd, Anacortes, WA 98221
      View Details
    • $695,000
      0.14 Acres

      Anacortes Commercial Building Opportunity

      Prime Anacortes Location, High Potential
      911 29Th St, Anacortes, WA 98221
      View Details

    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
    • $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
    • $6,000 /Mo
      4,817 SF

      Anacortes Commercial Buildings For Lease

      Two buildings with office, store, and shop/warehouse spaces available.
      2603-2619 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
    • $36 SF/Yr
      4,237 SF

      Retail Space in Anacortes Core

      Prime retail space with high visibility and strong tenant mix.
      1700-1720 Commercial Ave, Anacortes, WA 98221
      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.
    317 Commercial Ave
    Anacortes, WA 98221
    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

    Google sign-in failed. Please try again or use another login method.