110 Laventure RdMount Vernon, WA 98273

Property Details for 110 Laventure Rd

Year built

1983

Lot size

0.11 AC

Property size (Sq ft)

1,505 SF

Property type

Office properties

Property subtype

Office buildings

APN

4416-000-001-0009

APU

44160000010009

Description

This exceptional investment opportunity presents a 3,010 square foot, Class B office building situated on a 0.21-acre corner lot at the controlled intersection of Division Street and LaVenture Road in Mount Vernon, Washington. The property, identified by APN numbers P81927 and P81926, boasts a 100% occupancy rate with a single tenant, RET Physical Therapy, a division of Confluent Health, under a NNN lease expiring August 31, 2027 (approximately 2.8 years remaining). The lease includes 3% annual rent bumps, providing consistent income growth. The building, constructed in 1980, features two units across one story and is zoned P-O (Professional Office), ideally located near the Skagit County medical community. The current Net Operating Income (NOI) is $95,000, yielding an attractive 8.26% cap rate. The asking price is $1,150,000, translating to $382.06 per square foot. The lease includes two five-year renewal options. All information is deemed reliable but not guaranteed

• CAP approach

  CAP return

  Valuation

  6%

  $405,951

  6.5%

  $374,724

  7%

  $347,958

• Comparable approach

  Method

  Valuation

  Relative Method

  $457,480

  Geo Method

  $289,833

• Alternative Use

  Use

  Valuation

  Residential

  $464,658

  Hospitality

  $425,624

  Educational

  $354,114

  Medical

  $366,293

  Retail

  $550,844

Location Insight

City

Mount Vernon

County

Skagit

State

Washington

Latitude

48.4211

Longitude

-122.313

CBSA code

34580

CBSA name

MOUNT VERNON-ANACORTES, WA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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