Property Details
1615 Buck Way
Mount Vernon, WA 98273
$1,350,000
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Property Overview
Exceptional opportunity to acquire a fully leased commercial office building in the heart of Mount Vernon, Washington. This well-maintained investment property offers stable cash flow with established, long-term tenants and lease terms extending through 2029 and 2031, 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% capitalization rate, this property is ideal for investors seeking a passive commercial real estate investment, 1031 exchange replacement property, or a quality addition to an existing investment portfolio. 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. It has convenient access to Interstate 5, downtown Mount Vernon, healthcare facilities, professional services, restaurants, and regional employers. 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. Parking lot recently paved
Property Details
Property Information
Property Type
Commercial Sale
Subtype
Commercial Industrial
Status
Active
County
Skagit
Neighborhood
Mount Vernon
Listed
Jul 15, 2026
Parcel Number
P137249
Tax & HOA
Annual Property Tax
$12,840 (2026)
Est. Monthly Tax
$1,070/mo
HOA Fee
$250/annually
Financial Summary
Cap Rate
7.00%
Net Operating Income
$95,520
Gross Scheduled Income
$115,800
Gross Rent Multiplier
11.65
Total Expenses
$20,280
Building & Use
Building Sq Ft
5,000
Total Units
2
Zoning
Business,Office
Possible Use
Business, Office
Lot Size
22,651 sqft
Year Built
1985
Exterior & Lot
Lot Size
0.52 sqft
Year Built
1985
Exterior Materials
Stucco
Sewer
Sewer Connected
Water Source
Public
Exterior Features
Stucco
Community & Access
Directions
GPS Friendly. Head East on College way, Right on Buck Way. Located on the Right.
Location
City
Mount Vernon
County
Skagit
Coordinates
48.43541, -122.32332
Additional Information
Tax Year
2026
Annual Taxes
$12,840
Possession
Array
