FOR SALE - Listing #: 712396

Mount Vernon Center

525 - 0 E College Way , Mount Vernon WA98273

Agent Remarks

- Grocery Outlet & Ross Dress for Less Anchor 41% of GLA - Two nationally recognized value-oriented retailers serve as the primary traffic drivers for the center, supporting the surrounding tenants and generating consistent daily visitation.
- 98% Occupied Neighborhood Retail Center - Mount Vernon Center maintains strong occupancy with a stable mix of national and long-standing local tenants, with 34% of tenants occupying the center for 14+ years.
- Staggered Anchor Expirations Eliminate Rollover Risk - Anchor lease expirations separated by approximately five years provide future ownership with a manageable renewal schedule.
- Strategic Location Along Interstate 5 Retail Corridor - Positioned within a dominant retail corridor just off Interstate 5, surrounded by national retailers including Safeway, Hobby Lobby, Tractor Supply, Petco, etc., with 38,695 vehicles per day along E College Way.
- Inline Shop Space Below Market Rent - Meaningful mark-to-market opportunity as leases roll, providing a clear path to NOI growth while anchor tenancy remains stable.
- $155/SF Acquisition Basis Well Below Replacement Cost - The offering represents a substantial discount to estimated replacement costs for comparable retail centers, providing investors with a significant basis advantage.

Property Details

Informational Links