$ 1,100,000
1331 S 2nd ST Mount Vernon, WA 98273
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Listed by Real Estate 2000 Inc.
$ 1,100,000
Est. payment /mo
Active
1331 S 2nd ST Mount Vernon, WA 98273
0.32 Acres Lot
UPDATED:
11/14/2024 04:23 AM
Key Details
Property Type Commercial
Sub Type Commercial Industrial
Listing Status Active
Purchase Type For Sale
Subdivision Downtown
MLS Listing ID 2151553
Style 60 - Comm Bldg Und 10K
Year Built 1939
Lot Size 0.316 Acres
Property Description
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!
Location
State WA
County Skagit
Area 835 - Mount Vernon
Interior
Fireplace false
Building
Sewer Sewer Connected
Water Public
Others
Senior Community No
Acceptable Financing Cash Out, Conventional
Listing Terms Cash Out, Conventional
"Three Trees" icon indicates a listing provided courtesy of NWMLS.