619 Commercial Avenue, Anacortes, WA 98221
- $4,995,000
Listing courtesy of COMPASS.
- List Price
- $4,995,000
- Status
- ACTIVE
- MLS#
- 2293793
- Days on Market
- 11
- Annual Tax Ammount
- 11601.78
- Internet Provider
- City of Anacortes & Frontier/Comcast
Property Description
The iconic Keystone Building has been the anchor of downtown Anacortes for over 100 years! A vibrant city of prestigious marinas & aspiring artists, Anacortes's recent growth is legendary, making this investment a no-brainer. Poured concrete construction + new roof, skylight & recent sewer/foundation improvements mean you can focus on the fun things; exterior paint & bringing your own vision to this classic building. The well maintained interior has amazing historic details, all intact & waiting for your continued care & vision. Sale includes 1890 era cottage for retail or residential and two city lots in the back so you can expand or create something new! Cap rate 5.5%. List on the NHR to receive huge tax benefits with future restorations.
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Additional Information
- Community
- Old Town
- Building Condition
- Good
- Style
- 75 - Retail
- Year Built
- 1910
- # of Assigned Spaces
- 15
- Roof
- Flat, See Remarks
- Tax Year
- 2023
- Potential Terms
- Cash Out, Conventional
- Interior Features
- Ceramic Tile, Concrete, Hardwood, Wall to Wall Carpet
- Flooring
- Ceramic Tile, Concrete, Hardwood, Vinyl, Carpet
- Driving Directions
- Take SR 20 into Anacortes, proceed straight as it turns into Commercial Avenue. Building on the right as you cross 7th Street.
- Electric Expenses
- 8252
- Other Expenses
- 5572
- Energy Source
- Electric, Natural Gas
- Buyer Agency Compensation
- 2.5
- Net Operating Income
- $278,808
- Gross Adjusted Income
- $339,540
- Gross Scheduled Income
- $353,688
- Water/Sewer/Garbage Expenses
- $12,846
- Cap Rate
- 5
- Vacancy Rate
- 4
- Total Expenses
- $60,732
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.