REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.
In-PersonVirtual Tour
Listed by:Windermere RE San Juan Islands • Gregory King • Sybil Mager
Listed by:Windermere RE San Juan Islands • Gregory King • Sybil Mager
$ 2,300,000
Est. payment /mo
New
849 Spring ST Friday Harbor, WA 98250
1.14 Acres Lot
UPDATED:
Key Details
Property Type Commercial
Sub Type Commercial Industrial
Listing Status Active
Purchase Type For Sale
Subdivision Town
MLS Listing ID 2591273
Style 61 - Comm Bldg Ovr 10K
Year Built 1993
Annual Tax Amount $11,690
Lot Size 1.140 Acres
Property Sub-Type Commercial Industrial
Property Description
Exceptional investment opportunity to acquire Spring Street Square, a well-established income-producing commercial asset in Friday Harbor. Offering approximately 20,000± square feet across five buildings and 24 units, the property features a diversified tenant mix, strong occupancy, and consistent cash flow. Currently operating near capacity at an attractive 7.23% cap rate, Spring Street Square offers additional upside with projected returns of approximately 8.7% upon stabilization. The combination of in-place income and opportunities to optimize rents and operations creates a compelling investment profile in a market with limited commercial inventory. Prominent Spring Street frontage provides excellent visibility and access, along with ample on-site parking and proximity to downtown Friday Harbor, the hospital, and airport. An adjacent 0.55± acre vacant parcel is available separately, offering an additional opportunity for expansion, future development, or a complementary investment strategy. Recent capital improvements include installation of a fire suppression system and upgrades to landings and railings. With the potential for additional income strategies, including short- or mid-term residential uses, Spring street Square presents a rare opportunity to acquire a stabilized island asset with multiple avenues for long-term income growth and value appreciation.
Location
State WA
County San Juan
Area 900 - San Juan Island
Interior
Flooring Ceramic Tile, Concrete, Laminate, Vinyl, Carpet
Fireplace false
Exterior
Exterior Feature Wood Products
Roof Type Composition
Building
Sewer Sewer Connected
Water Public
Others
Senior Community No
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
"Three Trees" icon indicates a listing provided courtesy of NWMLS.