5577 Vanbarr Pl Freeland, WA 98249
This exceptional commercial building presents a compelling investment opportunity in the thriving town of Freeland, Washington, situated on picturesque Whidbey Island. Currently operating as a successful medical practice, this property boasts a strong 7.7% cap rate and benefits from long-term triple-net lease agreements, ensuring consistent income. A comprehensive remodel in 2016 significantly enhanced the building's functionality and aesthetics. Upgrades include a brand-new storefront, durable LVP flooring, a modern snaploc metal roof, a completely updated HVAC system, and a new water heater equipped with a recirculating pump. The interior features solid oak doors, six fully equipped exam rooms each with sinks, updated lighting, upgraded bath fixtures, and attractive maple cabinets throughout. A dedicated procedure room is also included, complete with storage, a sink, and an operatory light. The property's fiber optic cabling ensures high-speed internet connectivity. Beyond the main building, the sale includes eight grade-level storage bays housed in durable storage containers located behind the structure. This well-maintained property, coupled with its reliable tenants, represents a truly exceptional investment prospect. The building is located in the heart of Freeland, offering excellent visibility and accessibility.
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendComparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
Property description
Physical attributes from public recordsZoning & alternative use
No recorded transactions found for this property.
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.