Fantastic chance to acquire a trio of commercial investments, all housed within a single building. 13,769 Square Foot commercial space. In downtown Mount Vernon, it features a convenience store, an enticing Indian restaurant which leases for $2,000 a month, and a profitable rental apartment which leases for $1,000 a month. Both leases are additional income to the P&L $185K Gross Income giving it a 20.12% Cap Rate! Upgrades include a commercial-grade kitchen and sanitation area. The property boasts high visibility and prominent signage, capturing daily traffic of nearly 10,000 vehicles. Set for substantial growth. 2022 Gross $679,672.78, Net of $185,278.72 and 17% cap rate!
|
DAYS ON MARKET
|
502
|
LAST UPDATED
|
8/21/2024
|
|
TRACT
|
Downtown
|
YEAR BUILT
|
1939
|
|
COMMUNITY
|
Downtown
|
COUNTY
|
Skagit
|
|
STATUS
|
Active
|
PROPERTY TYPE(S)
|
Commercial
|
|
Prior to Feb 4, '24
|
$1,200,000
|
| Feb 4, '24 - Today |
$1,100,000 |
| AREA |
835 - Mount Vernon |
| HEAT |
None |
| LOT |
0.3161 acre(s) |
| STYLE |
60 - Comm Bldg Und 10K |
| SUBDIVISION |
Downtown |
| UTILITIES |
Sewer Connected |
| WATER |
Public |
We respect your online privacy and will never spam you. By submitting this form with your telephone number
you are consenting for Danne
Neill to contact you even if your name is on a Federal or State
"Do not call List".
Properties with the 
icon are courtesy of Northwest MLS.
Listings courtesy of Northwest MLS as distributed by MLS GRID. Based on information submitted to the MLS GRID as of 12/29/24 2:02 AM PST. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
DMCA Notice
This IDX solution is (c) Diverse Solutions 2024.
Twitter
Facebook
Email