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    Property profile & analytics

    911 Commercial Ave, Unit Anacortes Anacortes, WA 98221

    • Commercial real estate
    For Sale
    View listing
    $3,150,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US90-1461040
    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

    • Commercial real estate

    Property Details for 911 Commercial Ave

    Property type
    Commercial real estate

    Description

    This exceptional 30,000 square foot commercial and residential land parcel presents a remarkable investment opportunity in the heart of Anacortes, Washington. Situated at 911 Commercial Ave, this half-city block corner lot offers unparalleled potential for developers and investors. The property's mixed-use zoning allows for a building of up to six stories, reaching a maximum height of 65 feet (buyer to verify zoning regulations). The expansive lot provides breathtaking views in all directions, making it ideal for a development incorporating both retail/office space on lower floors and residential condos above, as envisioned in the initial concept. Located in the vibrant downtown Anacortes area, with its zip code 98221, this property benefits from excellent visibility and accessibility. The asking price for this significant development opportunity is $3,150,000. This is a rare chance to acquire a substantial piece of land in a thriving Washington community, poised for significant growth and return on investment. The property is situated in Skagit County and offers a unique blend of commercial and residential potential. Don't miss this chance to shape the future of Anacortes' skyline.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Anacortes
    County
    Skagit
    State
    Washington
    Longitude
    -122.61246032905
    Latitude
    48.514227554716

    Comparable in this City

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      Anacortes Investment Opportunity

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      Residential Development Land Near Ferry

      Land suitable for residential development near the Washington State Ferry.
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    Similar Nearby for Sale

    • $1,250,000
      2.02 Acres

      Anacortes Waterfront Development Land

      Prime Mixed-Use Waterview Property, 2 Acres
      5320 Ferry Terminal Rd, 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
      View Details
    • $1,699,000

      Anacortes Turnkey Grow Facility

      10-acre Anacortes site with grow facility, home, and raw land.
      9720-9748 Padilla Heights Rd, Anacortes, WA 98221
      View Details
    • $6,750,000

      Anacortes Land with Development Potential

      Upland and tidelands property near Tommy Thompson Trail.
      309 34Th St, Anacortes, WA 98221
      View Details
    • $275,000

      Ready-to-Build Marina View Lot

      Large lot in Skyline ready for development with water views.
      5506 Rosario Way, Anacortes, WA 98221
      View Details
    • $1,250,000
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      Residential Development Land Near Ferry

      Land suitable for residential development near the Washington State Ferry.
      5320 Ferry Terminal Rd, Anacortes, WA 98221
      View Details

    Similar Nearby for Lease

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      Retail Space in Historic Downtown

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      Anacortes Commercial Buildings For Lease

      Two buildings with office, store, and shop/warehouse spaces available.
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    • 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
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    Anacortes, WA 98221
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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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