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    5570 Harbor Ave Freeland, WA 98249

    For Sale
    $595,000

    100% Occupied, 6.5% Cap Rate, Great Condition

    Description

    Added:
    Feb 3, 2025
    Days on Market:
    308
    This exceptional investment opportunity presents a one-level brick commercial building boasting 100% occupancy and a remarkable 6.5% capitalization rate—a rarity in South Whidbey's market. Strategically located in Freeland's thriving business hub at 5570 Harbor Avenue, this property offers four commercial spaces within a single building, currently leased to three tenants. Recent significant upgrades enhance its value and appeal, including a completely renovated septic system, a new roof, updated interior wiring, and the installation of energy-efficient ductless mini-split heating and cooling systems. Furthermore, tenant-specific improvements have been made to ensure optimal functionality and attractiveness for each space. The building is exceptionally well-maintained and presents in excellent condition. Ample parking is provided with 12 designated spots. Beyond the building, a sizable backyard offers versatile space ideal for storage, employee gatherings, or other outdoor uses. Showings are strictly by appointment only to ensure minimal disruption to the current tenants. This property represents a strong, stable investment with significant potential for long-term returns. The exceptional cap rate and high occupancy make this a truly unique opportunity in the South Whidbey commercial real estate market.

    Property Features for 5570 Harbor Ave

    General Information

    Property type
    Other commercial real estate

    Building Details

    Year Built
    1962
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Tae's Hair Shop Hair Salon My Hearing Centers Hearing Aid Store Whidbey Property Management Property Management Company Epstein Custom Homes Home Builder

    Suggested Use

    Restaurant Realty agency Law Firm Dental Office Building Supply Wholesale Shop Auto Repair Shop Spa & Massage Hair Salon Clothing Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Freeland
    County
    Island
    State
    Washington
    Longitude
    -122.5247
    Latitude
    48.00894

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    FAQs

    What type of property is this?
    Commercial real estate - 100% Occupied, 6.5% Cap Rate, Great Condition
    Where is this commercial real estate located?
    The property is located at 5570 Harbor Ave Freeland, WA.
    What is the asking price?
    The asking price for this property is $595,000.
    (360) 221-1828
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    5570 Harbor Ave Freeland, WA 98249
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