Valley Business Center - Kirkland, WA€¦ · 2021 E College Way Mount Vernon , WA 98273...

Valley Business Center

2021 E College WayMount Vernon , WA 98273

Professional Office Building | WINDERMERE RE SKAGIT VALLEY

Valley Business CenterCONTENTS

Windermere Real Estate Skagit ValleyApril Axthelm360-661-4947

[email protected]

We obtained the following information above from sources we believe to be reliable. However, we have not verified its accuracy and make no guarantee, warranty or representation about it. It is submitted subject to the possibility oferrors, omissions, change of price, rental or other conditions, prior sale, lease or financing, or withdrawal without notice. We include projections, opinions, assumptions or estimates for example only, and they may not represent thecurrent or future performance of the property. You and your tax and legal advisors should conduct your own investigation of the property and transaction.

1030 E. College WayMount Vernon, WA 98273

01 Executive Summary Executive Summary 5 Location Summary 6

02 Property Description Property Features 8 Aerial Map 9 Parcel Map 10 Property Images 11

The information contained in the following offering memorandum is proprietary and strictly confidential. It is intended to bereviewed only by the party receiving it from Windermere RE Skagit Valley and it should not be made available to any other personor entity without the written consent of Windermere RE Skagit Valley. By taking possession of and reviewing the information contained herein the recipient agrees to hold and treat all such informationin the strictest confidence. The recipient further agrees that recipient will not photocopy or duplicate any part of the offeringmemorandum. If you have no interest in the subject property, please promptly return this offering memorandum to WindermereRE Skagit Valley. This offering memorandum has been prepared to provide summary, unverified financial and physical informationto prospective purchasers, and to establish only a preliminary level of interest in the subject property. The information containedherein is not a substitute for a thorough due diligence investigation. Windermere RE Skagit Valley has not made any investigation,and makes no warranty or representation with respect to the income or expenses for the subject property, the future projectedfinancial performance of the property, the size and square footage of the property and improvements, the presence of absence ofcontaminating substances, PCBs or asbestos, the compliance with local, state and federal regulations, the physical condition ofthe improvements thereon, or financial condition or business prospects of any tenant, or any tenant’s plans or intentions tocontinue its occupancy of the subject property. The information contained in this offering memorandum has been obtained fromsources we believe reliable; however, Windermere RE Skagit Valley has not verified, and will not verify, any of the informationcontained herein, nor has Windermere RE Skagit Valley conducted any investigation regarding these matters and makes nowarranty or representation whatsoever regarding the accuracy or completeness of the information provided. All potential buyersmust take appropriate measures to verify all of the information set forth herein. Prospective buyers shall be responsible for theircosts and expenses of investigating the subject property.

Valley Business Center Confidentiality and Disclaimer | 03

CONFIDENTIALITY AND DISCLAIMER:

PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY.PLEASE CONTACT THE WINDERMERE RE SKAGIT VALLEY ADVISOR FOR MORE DETAILS.Copyright © 2018 CREOP, LLC. All Rights Reserved.

Valley Business Center | Executive Summ

ary

Executive Summary

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Offering Summary

Location Summary

Valley Business Center Executive Summary | 05

OFFERING SUMMARYADDRESS 2021 E College Way Mount Vernon

WA 98273

COUNTY Skagit

BUILDING SF 33,786

NET RENTABLE AREA (SF) 25,012

LAND SF 83,072 SF

YEAR BUILT 1974

FINANCIAL SUMMARYOFFERING PRICE $2,610,000

PRICE PSF $104.35

PROPOSED FINANCINGLOAN 1

LOAN TYPE

DOWN PAYMENT $0

LOAN AMOUNT $0

INTEREST RATE 0.00 %

ANNUAL DEBT SERVICE $0

LOAN TO VALUE 0 %

NOTES Seller is offering buyer a purchaseincentive of $100,000 cash back atclosing.

LOAN 2

LOAN TYPE

DOWN PAYMENT $0

LOAN AMOUNT $0

INTEREST RATE 0.00 %

ANNUAL DEBT SERVICE $0

LOAN TO VALUE 0 %

DEMOGRAPHICS 1 MILE 3 MILE 5 MILE2016 Population 12,979 46,366 57,351

2016 Median HH Income $41,596 $53,599 $56,471

2016 Average HH Income $57,524 $69,405 $73,082

2021 E College Way, Mount Vernon, Washington, is being offeredfor $2,600,000. Owner will provide the buyer with a generous$100,000 cash back incentive at closing. Cap rate at current 80%occupancy is 7.1%. This building is a multi-tenant building withgreat tenants.

Valley Business Center Location Summary | 06

The Valley Business Center is located at 2021 E.College Way, Mount Vernon, Washington. This 32,786square foot professional office building has greatexposure on a major city arterial and is in closeproximity to the robust and growing Skagit ValleyCollege, local restaurants and other amenities. Witheasy I-5 access, local transit and a large parking lot,this building is ideal for the professional officeenvironment.

Mount Vernon is located in Skagit County, which isconveniently situated between Seattle andVancouver, B.C. along the I-5 corridor. Theapproximated population of Skagit County is 124,000.Transportation in close proximity to the site includesSkagit Regional Airports charter services, SkagitTransit, Amtrak and others.

Built in 1974, this two story professional officebuilding is serviced for utilities by Puget Sound Energyfor electricity, Cascade Natural Gas, Water by PugetUtility District #1, Sewer by the City of Mount Vernon,television and internet services are available thruComcast, Wave Broadband and Verizon. The buildingutilities are typical and adequate for the market area.

The site is level with street lights, concrete sidewalks,curbs and gutters. The property is not located in aflood zone.

Regional Map

Locator Map

Valley Business Center | Property Description

Property Description

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Property Features

Aerial Map

Parcel Map

Additional Maps

Property Images

Valley Business Center Property Features | 08

Site DescriptionNUMBER OF TENANTS 13

BUILDING SF 33,786

NET RENTABLE AREA (SF) 25,012

LAND SF 83,072

LAND ACRES 1.91

YEAR BUILT 1974

ZONING TYPE C-2 Professional Office

BUILDING CLASS B

TOPOGRAPHY Level

NUMBER OF STORIES 2

LOT DIMENSION 1.91 acres

NUMBER OF PARKING SPACES 112

PARKING RATIO 1= 300 sf

NEIGHBORING PROPERTIESNORTH Skagit Valley College

EAST Northwest WorkSource and USDA

MECHANICALHVAC Natural Gas

ELECTRICAL / POWER PSE

LIGHTING Electric

CONSTRUCTIONFOUNDATION Concrete slab on grade

FRAMING Wood

EXTERIOR Masonry

PARKING SURFACE Paved

ROOF Flat membrane roof system- newroof cover in 2008

WINDOWS Metal frame fixed and casement

Valley Business Center Aerial Map | 09

Valley Business Center Parcel Map | 10

Valley Business Center Property Images | 11

Professional Offices


Storage Building


Secured Leased Parking


North Parking Area


Building West


Building South


Building North


Building West


Located on a Major Arterial Street


Property Map

Valley Business Center

Windermere Real Estate Skagit ValleyApril Axthelm360-661-4947

[email protected] E. College WayMount Vernon, WA 98273

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Valley Business Center - Kirkland, WA€¦ · 2021 E College Way Mount Vernon , WA 98273...

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