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701 S 1st Street Mount Vernon, WA $ 2,300,000
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$ 2,300,000 Get more info
701 S 1st Street
$ 2,300,000
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701 S 1st Street

Mount Vernon, WA, 98273
$ 2,300,000
Bedrooms-- Baths--

Monthly Estimate*

$ 14,522

Listed by Pettruzzelli Inc
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Commercial Property for sale in Mount Vernon, WA

for $2,300,000. This building was built in 1908 on a lot size of 0.1659.

Fantastic investment opportunity in prime downtown Mount Vernon location. Fully rented, this 13,000 square foot property features a beloved, long-term retail tenant on the main floor with ample living space above. On the second floor you'll find a mix of 18 rental units which include full apartments and individual rooms along with communal kitchen, restrooms, and coin operated laundry. These units offer a great opportunity for low income housing and are in great demand. Located in the heart of downtown, this historic building is within easy walking distance of the Skagit Riverwalk, grocery stores, restaurants, the Lincoln Theatre, summer concerts, farmers markets, shops, and everything downtown Mount Vernon offers.

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Commercial Active

Price

$ 2,300,000

Property Type

Commercial

Taxes

$ 12,015

Style

Comm Bldg Ovr 10K

Lot Size

0.1659

Year Built

1908

Town/City

Mount Vernon

County/Region

Skagit

MLS | Web ID

2549983
Features
General
Living Area 0
Sewer Sewer Connected
Heating Radiator
Possession Closing
Roof Flat Torch Down
HOA Fee 0
Year Built 1908
Topography Level
Property Subtype Commercial Industrial
Tax Year 2026
County Skagit
Net Operating Income 167498
Insurance Expense 11025
Property Type Commercial Sale
HOA N
Subdivision Name Downtown
Possible Use Business Commercial Multi-Family Office Retail
Special Listing Conditions None
Status Active
Directions Take Exit 226 from I-5 then west on Kincaid to 1st Street then right on 1st to building on left.
City Mount Vernon
Senior Community Y/N N
Zoning Description Business Commercial Multi-Family Office Retail
Number Of Units Total 3
MLS Area 835 - Mount Vernon
Lot Size Units Square Feet
Lot Size Square Feet 7227
Carport Y/N N
Listing Terms Cash Conventional
Tax Annual Amount 12015
Public Remarks Fantastic investment opportunity in prime downtown Mount Vernon location. Fully rented this 13 000 square foot property features a beloved long-term retail tenant on the main floor with ample living
Structure Type Unspecified
Building Area Units Square Feet
Standard Status Active
Water Company Skagit PUD
Total Actual Rent 19650
Water Sewer Garbage 33216
Property Style 61 - Comm Bldg Ovr 10K
Cap Rate 7.28
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Exterior
Exterior Amenities Cement/Concrete
Water Source Public
Total Parking 0
Foundation Details Poured Concrete Slab
Building Area Total 0
Lot Size Acres 0.1659
Covered Spaces 0
Irrigation Water Rights Y/N N
Site Frontage 64
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Interior
Total Fireplaces 0
Air Conditioning Y/N N
Heating Y/N Y
Fireplace Y/N N
Power Production Type Electric Natural Gas
Baths Three Quarter Upper 0
Bedrooms Upper 0
Baths Half Upper 0
Baths Full Upper 0
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Internal Only
OriginalMLSID NWM2549983
Street Number 1 701
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* Excluded Features
List By
Dominic Pettruzzelli

Listing Agent

Pettruzzelli Inc

Broker

Affordability Calculator

$15,524
Per Month
94%
6%
0%
Monthly Principal & Interest
$14,522
Monthly Property Taxes
$1,001
Monthly Home Insurance
--
Default based on a 30-year fixed rate of 6.49% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.
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Nearby
258624 Elementary School
258775 Middle School
Unknown High School High School
See complete school information
Pricing History
DatePricePrice ChangeDescription
7/7/2026$2,300,000 Listed Price

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701 S 1st Street, Mount Vernon, WA, 98273 is a Commercial Property for sale at $2,300,000 with a lot size of 0.1659. 701 S 1st Street was built in 1908. The property's zip code is 98273 which is in Mount Vernon, WA

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