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    FOR SALE
    Retail properties & Spaces

    916 W Division St, Mount Vernon, WA 98273

    28,000 SF 0.14 ac lot Built 2016
    Individually Owned 28-yr Hold ~ Est. High Equity
    Property ID
    US90-1510461
    Property summary
    AI-generated overview

    This exceptional mixed-use property, located at 916 W Division St in Mount Vernon, WA, presents a compelling investment opportunity. Built in 2016, the 28,000 square foot building sits on a 15,767 square foot lot and boasts a modern design. Currently housing a thriving furniture business established in 1947, the property offers significant potential for expansion and diversification. The building's two stories provide ample space for various uses, and its C-2 zoning allows for a wide range of commercial activities, including retail, office space, restaurants, banks, and financial institutions. The property's strategic location in the heart of Skagit Valley ensures high visibility and easy accessibility, making it an ideal investment for both established businesses and new ventures. The building's strong history and prime location combine to create a rare opportunity to acquire a piece of Skagit Valley's commercial landscape. The asking price is $4,480,000. This institutional-grade investment is ready for its next chapter. The property's 28,000 square feet of net rentable space offers flexibility and scalability for future growth. The 98273 zip code provides access to a thriving community.

    Property profile
    Verified
    Property type Retail properties & Spaces
    Use group DEPARTMENT STORE
    Year built 2016
    Total area 28,000 SF
    Lot 0.14 ac (6,098 SF)
    APN 340419-0-298-0006
    UPID US90-1510461
    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
    $3.64M
    Comparable Approach Comparable
    $4.13M
    Blend (final) Blend
    $3.44M
    Owner & transaction history
    Willard Tripp · 28 yrs held
    Willard Tripp
    since 1998
    7 recorded transactions
    2023
    2017
    2017
    1998
    1998
    1969
    1969
    Zoning & alternative use
    Permitted uses
    Permitted uses
    Allowed · conditional · prohibited
    Top alternative use upside
    Apartment house (5+ units) $5.0M +12.9%
    Office building $4.8M +7.3%
    Commercial (general) $4.6M +3.9%
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    More about this property
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