619 Commercial Ave - Storefront Retail/Office FOR SALE


Anacortes, WA 98221
$4,995,000 USD
206-713-9678
619 Commercial Ave, Anacortes, WA for Sale
$4,995,000 USD
Storefront Retail/Office - FOR SALE
1/77
null | 5.5% Cap Rate

619 Commercial Ave
Anacortes, WA 98221


HIGHLIGHTS

  • Property is at a busy downtown core location.
  • Beautiful intact historic details have been maintainted along with new updates including roof, skylights and sewer.
  • Low vacany rate.
  • Highest and best use would be boutique hotel with retail and restaurant below, there are no historic hotels in Anacortes at this time.

OVERVIEW

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. Recent renovation included the addition of a 9th bathroom which creates another medical/spa rentable space! 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.

FOR SALE DETAILS

PRICE

$4,995,000 USD

PRICE/SF

$222 USD /SF

CAP RATE

5.5%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment Or Owner User

BUILDING DETAILS

PROPERTY NAME

The Keystone Building

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Storefront Retail/Office

ADD'L SUBTYPES

Storefront Retail/Residential, Loft/Creative Space, Office/Residential

TOTAL BUILDING SIZE

-

STORIES

4

YEAR BUILT

1909

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.21 AC

LAND SF

9,148 SF

ZONING

CBD

APN/PARCEL ID

P54998

ASK ABOUT THIS PROPERTY

Jennifer WynnCompass Whidbey IslandMore Info
206-713-9678

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Jennifer WynnCompass Whidbey IslandMore Info
206-713-9678

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.