1909 2Nd StMount Vernon, WA 98273

Property Details for 1909 2Nd St

Year built

1900

Lot size

1.29 AC

Property size (Sq ft)

6,760 SF

Property type

Retail properties

Property subtype

Retail space

APN

3739-008-006-0009

APU

37390080060009

Description

This exceptional Mount Vernon, WA investment opportunity presents a unique blend of retail and multifamily potential. Situated on a generous 2.06-acre lot at 1909 S 2nd Street, this property boasts a substantial 6,760 square foot building, encompassing both retail and residential spaces. The main structure, built in 1959, is a two-story building offering ample space for various commercial ventures. The property also includes a separate shop building, adding to its versatility. Further enhancing its appeal is a 1908 two-story rental house, providing additional income streams. The property features 30 parking spaces, a significant advantage for both tenants and customers. Its strategic location near I-5 and access from two major roads offers excellent visibility and accessibility, making it ideal for a variety of uses. The property's zoning and potential for redevelopment should be explored. This property is located in a Federal Opportunity Zone, presenting additional investment incentives. With a total asking price of $999,999, and a price per square foot of $147.93, this property offers a compelling return on investment. The APN is P53491. This is a rare opportunity to acquire a substantial mixed-use property in a thriving Washington state location. Serious inquiries are encouraged to explore the full potential of this remarkable asset.

• CAP approach

  CAP return

  Valuation

  6%

  $2,680,409

  6.5%

  $2,474,223

  7%

  $2,297,493

• Comparable approach

  Method

  Valuation

  Relative Method

  $5,178,246

  Geo Method

  $3,280,639

• Alternative Use

  Use

  Valuation

  Residential

  $2,087,100

  Hospitality

  $1,911,772

  Educational

  $1,590,572

  Medical

  $1,645,274

  Retail

  $2,474,223

Location Insight

City

Mount Vernon

County

Skagit

State

Washington

Latitude

48.4072

Longitude

-122.338

CBSA code

34580

CBSA name

MOUNT VERNON-ANACORTES, WA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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