525 E College Way
Mount Vernon WA 98273

Mount Vernon Center

525 E College Way Mount Vernon WA 98273

Listing #: 712396 | Status: Available | Last Modified: 5/4/2026 |

For Sale
Kevin Verger
  • Phone:(206) 946-9425
  • Email:kevin.verger@kidder.com
  • Office Name:Kidder Mathews
  • Office Phone:(208) 362-8600
  • Office Website:
Maggie Verger
Showing Instructions
  • Call Listing AgentNo
  • Use DiscretionNo
23-DJI_20250804112456_0948_D.jpg
Price Information
  • Listing Price$ 15,500,000.0
  • $/SF$ 157.8
  • Listing StatusAvailable
  • Days on Market0
  • Asset ClassRetail
  • Terms
Investment Information
  • Investment Type
  • Investment PropYes
  • Gross Income0
  • Vacancy Factor %0.00%
  • Operating Expenses0
  • Net Operating Income0
  • CAP Rate 6.75 %
Detail Listing Information
  • Min Total SF0
  • Max Total SF0
  • Lease Rate Low$ 00.0
  • Lease Rate High$ 00.0
  • Heat Source
  • Total Units
Utilities
  • Water
  • Electricity
  • Storm Sewer
Retail Information
  • SignageSignage on Building and Freestanding
  • Anchor
Retail Asset Class Info
  • Crane Count
  • Crane Tonnage0
  • Clearance Height Min
  • Clearance Height Max
  • Bay Depth
  • Second Road Front
  • Grade Level Door Count
  • Tennant Improvement Allowance
Building Information
  • Building StatusExisting
  • # of Buildings1
  • # of Floors1
  • # of Units
  • # of Elevators0
  • A/CYes
  • Clearance Height Min
  • Clearance Height Max
  • Bay Depth
  • Total Building SF98239
  • Net Rentable Area98239
  • Total Office SF
  • Largest Contiguous SF
  • Lot SF356321
  • Acres8.18
Property Type
  • Property TypeRetail
  • Office Type
  • Building Class
Location
  • CountySkagit
  • Vicinity
  • Location Description
  • Second Address
  • Cross Street
  • Market AreaSkagit County
  • Tax ID #563f8a4d-7c2f-4253-82ee-5
  • Additional Parcels
  • ZoningC-2
Parking Information
  • # Covered Spaces0
  • # Uncovered Spaces100
  • Total Parking Spots100
  • Parking Ratio0
Construction
  • Year Built1978
  • Year Renovated
  • Completion Date
  • Roof Type
  • Construction TypeFramed

Mount Vernon Center

Public Comments

The Verger Team is pleased to present Mount Vernon Center, a 100,155 SF, 98% occupied neighborhood retail center located in the Puget Sound Region of Washington State. The property is anchored by Grocery Outlet and Ross Dress for Less, two leading value retailers representing 41% of the GLA, with staggered lease expirations that minimize rollover risk. The inline tenant base, spanning the main building and two adjacent strip centers, is anchored by long-tenured local operators, with approximately 34% of tenants having occupied the property for 14+ years. The service-oriented mix of tenants, including a laundromat, nail salon, mail services, and state agency offices, is largely insulated from e-commerce competition, while benefiting from the consistent foot traffic generated by the value a

Public Building Comments

High traffic/Visibility. Large retail/office center. Excellent parking and access to College Way, Riverside Dr. and I-5. Tenants include 24 hr Fitness, Value Village, China Buffett, DLI and others.

Listing Images