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Property profile & analytics
OFF-MARKET
Estimated value
$920,000
Retail space
509 1st St Mount Vernon, WA 98273-3808
Entity Owned
7-yr Hold
~
Est. High Equity
Property ID
US90-3316268
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1905
Total area
7,724 SF
Lot
0.11 ac (4,648 SF)
APN
3700-005-006-0000
UPID
US90-3316268
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$1.01M
Comparable Approach
Comparable
$1.09M
Blend (final)
Blend
$920k
Owner & transaction history
Igen17 LLC · 7 yrs held
Igen17 LLC
since 2018
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Apartment house (5+ units)
$1.4M
+12.9%
Office building
$1.3M
+7.3%
Commercial (general)
$1.3M
+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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$1,085,000
6.5%
$1,005,000
7%
$930,000
Alternative Use
Use
Estimation
RETAIL STORES
$1,220,000
Current use
APARTMENT HOUSE (5+ UNITS)
$1,380,000
Change: +13% · Conversion: Difficult
OFFICE BUILDING
$1,310,000
Change: +7% · Conversion: Easy
COMMERCIAL (GENERAL)
$1,270,000
Change: +4% · Conversion: Easy
INDUSTRIAL (GENERAL)
$1,100,000
Change: -10% · Conversion: Difficult
WAREHOUSE, STORAGE
$1,010,000
Change: -17% · Conversion: Difficult
Blend value · Realmo final
$920k
Range $828k – $1.01M · ±10%
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
$119 / 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
$9,115
Tax year 2023
Assessed value
$841,600
Assessed 2022
Previous assessed
$771,600
+9.1% YoY
Effective rate
1.08%
On assessed value
Assessed land
$100,400
Assessed improvement
$741,200
Land market value
$100,400
Improvement market value
$741,200
Total market value
$841,600
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
1905
Heating
NONE
Stories
1
Total area
7,724 SF
Lot
0.11 ac (4,648 SF)
APN
3700-005-006-0000
UPID
US90-3316268
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
$1.2M
APARTMENT HOUSE (5+ UNITS)
Est. value
$1.4M
OFFICE BUILDING
Est. value
$1.3M
COMMERCIAL (GENERAL)
Est. value
$1.3M
INDUSTRIAL (GENERAL)
Est. value
$1.1M
WAREHOUSE, STORAGE
Est. value
$1.0M
RETAIL STORES Current
APARTMENT HOUSE (5+ UNITS)
OFFICE BUILDING
COMMERCIAL (GENERAL)
INDUSTRIAL (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
1905
Heating
NONE
Stories
1
Lot
0.11 ac
Current owner
From public records · entity-resolved
Igen17 LLC
Entity
Mailing address
802 SE EVERETT MALL WAY STE A, EVERETT, WA 98208-3759
Ownership since
2018
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 27, 2018
$615,000
Igen17 LLC
Dt Ents Of Mt Vernon LLC
Warranty Deed
—
Mar 16, 2006
$585,000
Dt Ents Of Mt Vernon LLC
Pickett,gretchen
Warranty Deed
$536,000 · Whidbey Island Bank
Nov 26, 2002
—
Gretchen Pickett
Pickett Investments LLC
Quit Claim Deed
related
$367,500 · Peoples Bank & Trust
—
—
Pickett Investments LLC
—
Deed Of Trust
related
$200,000 · Peoples Bank & Trust
—
—
Pickett Investments LLC
—
Deed Of Trust
related
$315,000 · Peoples Bank & Trust
—
—
Gretchen Pickett
—
Deed Of Trust
related
$375,000 · Peoples Bank & Trust
—
—
Dt Ents Of Mt Vernon LLC
—
Deed Of Trust
related
$248,000 · Northwest Busn Dev Assn
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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