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

    3402 Commercial Ave Anacortes, WA 98221-4228

    • Motels
    • 5,029 SF
    • 0.50 lot acres
    OFF-MARKET
    Value Estimations
    $505,000
    Show details
    Cap Rate Potential
    7%
    Motels
    Location Intelligence
    Property ID
    US90-3348841
    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

    • Nantucket Inn Anacortes / Bed & Breakfast / Hotel

    Property Details for 3402 Commercial Ave

    Year built
    1925
    Construction
    CONCRETE
    Lot size
    0.50 lot acres
    Property size
    5,029 SF
    Property type
    Motels
    APN
    3775-002-007-0006
    APU
    37750020070006

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $490,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $565,000
      6.5%
      $525,000
      7%
      $485,000

    • Alternative Use

      Use
      Estimation
      HOTEL/MOTEL
      $575,000
      Current use
      INDUSTRIAL (GENERAL)
      $815,000
      Change: +41% Conversion: Difficult
      OFFICE BUILDING
      $775,000
      Change: +35% Conversion: Difficult
      RESTAURANT
      $750,000
      Change: +30% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $710,000
      Change: +23% Conversion: Difficult
      RETAIL STORES
      $695,000
      Change: +20% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Anacortes
    County
    Skagit
    State
    Washington
    Longitude
    -122.613
    Latitude
    48.4945
    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
    $8,725
    $468,400
    $552,400
    $1,020,800
    -
    $468,400
    $552,400
    $1,020,800

    Comparable in this City

    • Value Estimation
      $485,000
      5,789 SF

      819 20th St

      MOTEL • 5,789 SF
      819 20th St, Anacortes, WA 98221-2503
      View Details
    • Value Estimation
      $315,000
      13,959 SF

      1103 6th St

      MOTEL • 13,959 SF
      1103 6th St, Anacortes, WA 98221-1719
      View Details
    • Value Estimation
      $315,000
      0.07 Acres

      Anacortes, WA 98221

      MOTEL • 0.07 Acres
      Anacortes, WA 98221
      View Details
    • Value Estimation
      $4,000,000
      8,307 SF

      906 9th St

      MOTEL • 8,307 SF
      906 9th St, Anacortes, WA 98221-4121
      View Details
    • Value Estimation
      $390,000
      0.22 Acres

      419 Commercial Ave

      MOTEL • 0.22 Acres
      419 Commercial Ave, Anacortes, WA 98221-1518
      View Details
    • Value Estimation
      $380,000
      14,792 SF

      3006 Commercial Ave

      MOTEL • 14,792 SF
      3006 Commercial Ave, Anacortes, WA 98221-2740
      View Details

    Similar Nearby for Sale

    • $1,500,000
      5,160 SF

      Lakefront Motel and Cabin

      Motel with lake cabin on Lake Campbell in Anacortes.
      6676 State Route 20, Anacortes, WA 98221
      View Details
    • $1,350,000

      Anacortes Commercial Land & House

      Prime Hwy 20 location, 3+ acres, 2560 sq ft house
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    • $550,000

      415 O Ave, Anacortes, WA 98221

      Commercial real estate
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    • $6,750,000

      Anacortes Land with Development Potential

      Upland and tidelands property near Tommy Thompson Trail.
      309 34Th St, Anacortes, WA 98221
      View Details
    • $2,495,000
      6,965 SF

      Anacortes Investment Opportunity

      Mixed-use property with restaurant, apartments, retail, and houses for sale.
      2001 Commercial Ave, Anacortes, WA 98221
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    • $275,000

      Ready-to-Build Marina View Lot

      Large lot in Skyline ready for development with water views.
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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
    • $32 SF/Yr
      1,714 SF

      Medical Office Space in Anacortes

      Medical office space available near Island Health hospital facility.
      1019 24Th St, 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
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    Anacortes, WA 98221-4228
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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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