1615 Buck Way, Mount Vernon, WA 98273
- $1,250,000
Listing courtesy of NextHome Preview Properties.
- List Price
- $1,250,000
- Status
- PENDING FEASIBILITY
- MLS#
- 2555069
- Price Change
- ▼ $100,000 1787185017
- Days on Market
- 37
- Annual Tax Ammount
- 12840
- Internet Provider
- Comcast
Property Description
New Price! Located on College Way with easy access to an open parking lot. This well-maintained investment property offers stable cash flow with established, long-term tenants with lease terms extended, providing investors with dependable income and reduced leasing risk. The building has been used as a Real Estate office and Mortgage company since 1999. At a 7.5% capitalization rate, this property is ideal for investors seeking a passive commercial real estate investment or 1031 exchange replacement property. The property’s strong occupancy history and reliable tenancy create an excellent opportunity for both experienced and first-time commercial investors. Situated on College Way the property has great exposure with approximately 20,000 vehicles driving by daily. Its strategic location enhances tenant retention while providing excellent accessibility for employees and clients alike. Whether you’re looking to expand your portfolio with an income-producing office building, secure a commercial investment property in Mount Vernon, or complete a 1031 exchange, this offers the stability, cash flow, and long-term value investors seek. Offices are beautifully updated and parking lot was recently repaved and striped.
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Additional Information
- Community
- Mount Vernon
- Style
- 60 - Comm Bldg Und 10K
- Year Built
- 1985
- # of Assigned Spaces
- 24
- Roof
- Torch Down
- Tax Year
- 2026
- HOA Dues
- $250
- Flooring
- Laminate, Stone, Carpet
- Driving Directions
- GPS Friendly. Head East on College way, Right on Buck Way. Located on the Right.
- Other Expenses
- 2306
- Energy Source
- Electric, Natural Gas
- Net Operating Income
- $93,994
- Gross Adjusted Income
- $113,494
- Gross Scheduled Income
- $115,800
- Water/Sewer/Garbage Expenses
- $4,295
- Cap Rate
- 7.5
- Total Expenses
- $21,856
Based on information submitted to the MLS GRID as of . 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.IDX information is provided exclusively for consumers’ personal noncommercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.