MLS #2542686 / Listing provided by NWMLS & Windermere RE San Juan Island.
$2,525,000
849 Spring Street
Friday Harbor,
WA
98250
Year Built
Exceptional opportunity to acquire Spring Street Square, an established income-producing asset in Friday Harbor. Offering approximately 20,000± square feet across five buildings, the property is currently configured as 24 units with a strong, diverse tenant mix providing stable cash flow. Operating near capacity, the property currently delivers an attractive 6.5% cap rate, with projected returns of approximately 7.8% upon stabilization, presenting a compelling value-add investment opportunity. Ideally located with prominent Spring Street frontage, the property offers excellent visibility, ample parking, and close proximity to the hospital and airport. The sale includes two tax parcels, featuring an additional 0.55± acre vacant lot—creating valuable future development potential. Recent upgrades include installation of a fire suppression system, improvements to landings and railings, and exterior paint. With the option to incorporate short- or mid-term residential units, this property presents a unique opportunity to further diversify income, enhance long-term value, and capitalize on strong demand in one of the Pacific Northwest's most desirable island communities.
Disclaimer: The information contained in this listing has not been verified by Hawkins-Poe Real Estate Services and should be verified by the buyer.
Bedrooms
- Upper Level Bedrooms: 0
Fireplaces
- Total Fireplaces: 0
Heating & Cooling
- Heating: Yes
- Cooling: Yes
Parking
- Parking Total: 40
- Total Uncovered Parking Spaces: 40
Structure
- Roof: Composition
- Exterior Features: Wood
- Foundation: Poured Concrete
Lot Details
- Acres: 1.6957
- Foundation: Poured Concrete
Lot Details
- Acres: 1.6957
- Foundation: Poured Concrete
Power
- Energy Source: Electric
- Power Company: OPALCO
Water, Sewer, and Garbage
- Sewer Company: TOFH
- Sewer: Sewer Connected
- Water Company: TOFH
- Water Source: Public
- Water, Sewer, and Garbage: 40000
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