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Property profile

525 College Way Mount Vernon, WA 98273

FOR LEASE
Theaters & concert halls
Property ID
US90-0594893
88,455 SF 8.12 ac lot Built 1977
Entity Owned 1-yr Hold Absentee Owner ~ Est. High Equity
525 College Way, Mount Vernon, WA 98273-5571 For Lease
Contact for pricing 2,284 SF available
525 College Way, Mount Vernon, WA 98273-5571
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Property summary

AI-generated overview

This exceptional retail opportunity encompasses a 98,570 square foot, multi-tenant center situated on 8.12 acres in Mount Vernon, WA. The property, built in 1978, features three single-story buildings and offers 401 parking spaces. Currently, 18,800 square feet is available, with the possibility of dividing the space to suit tenant needs. Located at 525 E College Way, this highly visible location boasts excellent access and ample parking, situated along Highway 538 (East College Way), which sees an average daily traffic count of 26,000 vehicles. The property benefits from lighted intersections and is strategically positioned within Mount Vernon's commercial core, near major national retailers including Lowe's, Walmart, Safeway, Petco, Office Depot, JoAnn Fabrics, and Hobby Lobby. Mount Vernon's robust growth, evidenced by a 25% population increase since 2000, significantly enhances the property's investment potential. The property's proximity to Skagit Valley College, serving nearly 5,000 students just one mile away, further strengthens its appeal. The property's APN is P53856, and Skagit County taxes are $14 per square foot.

Property profile

Verified
Property type Theaters & concert halls
Use group THEATER (MOVIE)
Year built 1977
Total area 88,455 SF
Lot 8.12 ac (353,707 SF)
APN 3746-000-011-0000
UPID US90-0594893

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Current use

Occupant on record · Public records
  • Grocery & Convenience Store Food Market
  • Home Decor Store Department Store
  • Health Counselor

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$3.24M

Owner & transaction history

since 2025
7 recorded transactions
2025
Price N/A
2025
Price N/A
2024
Price N/A
2020
Price N/A
2018
Price N/A
2017
Price N/A
2015
Price N/A

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
More about this property
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