This portfolio of four bank-owned Bayview Park commercial lots is located along State Route 532 on Camano Island, known as a resort and vacation destination due to its proximity to Seattle, and to its location by Saratoga Passage, Skagit Bay, and Port Susan. It has grown from year round residents who can easily commute to employment centers along the I-5 corridor north to Mt. Vernon and south to Everett. Stanwood, Washington is nearby, and I-5 is a fifteen minute drive east.
Highway 532 is the main east/west route from I-5, and the average daily traffic volumes range from 17,000 to 18,000 vehicles, according to WSDOT 2014 Annual Traffic Report.
The Bayview Park lots range from 1.18± acres to 1.56± acres and share access from Vineyard Lane. All four lots are fully served by water, sewer and power, light standards, paved entry drive, and stubbed utilities to each lot. The four lots are ready for development. The prior owner invested over $1.2 million to finish Bayview Park and the off-site sewer system. Eighteen water shares have been paid to the Juniper Beach Water District. The seller will provide an allocation for water and sewer capacity for properties if sold to individual buyers.
The lots have frontage along Vineyard Lane that range from 140± to 150± feet and have depth of 350± to 390± feet. Auction Property #104 has 390± feet of frontage on State Route 532. Auction Properties #106 and #107 have water line easements which encumber a small portion of each of these two lots. Auction Property #107 has an easement for an on-site well. Please see Supplemental Information Package for detail.
The lots are zoned Camano Gateway Village, which is a new commercial designation by Island County. The intent is to encourage mixed-used development limited in scale, intensity, and size. Maximum building size is 4,000 square feet, with up to building size of 10,000 square feet with a conditional use permit. Residential uses are allowed with commercial use, along with offices and lodging limited to less than forty rooms. Please see Supplemental Information Package for detail.
The seller is offering the four commercial lots starting at less than $1.65 per square foot, with the added incentive of offering short-term seller financing.
The sales of Auction Properties #104, #105, #106, and #107 are subject to total bids in the aggregate to total, or exceed, the bulk Published Reserve Price of $849,000.
The off-site drain field will be included in the sale of the property to a bulk buyer. The drain field also serves the nearby 8.36± acre Anchor Bay development property at State Route 532 and North Good Way, which was sold by the seller in 2016 and has additional capacity to serve future development.
