Property Details
1621 Freeway Drive
Mount Vernon, WA 98273
$1,265,000
Active
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Property Overview
This exceptionally well-maintained commercial property presents a rare investment opportunity with strong cash flow and a solid rental history. Conveniently located just off I-5, it offers excellent visibility and easy access. The fully occupied office building with stable, long-term tenants, additionally 13 storage units remain consistently rented with a waitlist—underscoring strong demand. Additional upside potential comes from virtual office rentals that include access to a shared conference room. With an impressive 8% cap rate and multiple income streams, this is a turn-key asset in a prime location. Don’t miss out!
Property Details
Property Information
Property Type
Commercial Sale
Subtype
Commercial Industrial
Status
Active
County
Skagit
Neighborhood
Mount Vernon
Listed
Jun 13, 2025
Original Price
$1,299,000
Parcel Number
P26214
Tax & HOA
Annual Property Tax
$9,338 (2024)
Est. Monthly Tax
$778/mo
Financial Summary
Cap Rate
6.00%
Net Operating Income
$74,441
Gross Scheduled Income
$121,560
Gross Rent Multiplier
11.00
Total Expenses
$47,119
Total Actual Rent
$10,200/mo
Building & Use
Building Sq Ft
8,572
Total Units
18
Sq Ft Rented
8,572
Zoning
Commercial
Possible Use
Commercial
Lot Size
11,670 sqft
Year Built
1984
Exterior & Lot
Lot Size
0.27 sqft
Year Built
1984
Exterior Materials
Cement
Sewer
Sewer Connected
Water Source
Community
Exterior Features
Cement/Concrete
Community & Access
Directions
From I-5 West on College to property
Location
City
Mount Vernon
County
Skagit
Coordinates
48.43508, -122.34411
Additional Information
Tax Year
2024
Annual Taxes
$9,338
Possession
Array
Based on information submitted to the MLS GRID as of June 23, 2026 9:05 PM. 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, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Copyright 2026 NWMLS. All rights reserved.
IDX information is provided exclusively for consumers’ personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Copyright 2026 NWMLS. All rights reserved.
