Lummi Island Inn
For Sale
$1,690,000
Pending
2579 Shore Dr, Lummi Island, WA 98262
Restaurant, bar, cottage, and guest rooms with stunning views.
Property Size4,560 SF
Days on Market779
Property Features for 2579 Shore Dr
General Information
Standard status
Pending
Size
4,560 SF
Property subtype
Commercial
Listing Agency:
THE MULJAT GROUP INC.
(360) 733-3030
Listed By:
KENA BRASHEAR · License #26557
Source:
Corcoran
Added: Jun 13, 2024
Changed: Jul 6
Last Checked: Jul 23 at 8:12AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of THE MULJAT GROUP INC.
Investment Insights
Based on property information with market context.
The Willows Inn on Lummi Island presents an opportunity to create a unique destination. Situated on the edge of Lummi Island, the property includes a restaurant and bar, a detached cottage, and seven guest rooms, all offering views. The property has potential as a dining spot, event venue, or island getaway. Lummi Island, located in the Salish Sea and accessible by a short ferry ride from the mainland, offers natural beauty and a sense of community. The property size is 4560 square feet.
Key Highlights
- Restaurant and bar included.
- Stunning views from all guest rooms.
- Seven guest rooms plus a detached cottage.
Financial Insights For Specialty Retail
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $84.3k | $18.48 |
| − Vacancy | −$4.5k | −$0.98 |
| EGI | $79.8k | $17.50 |
| − OpEx | −$20.0k | −$4.38 |
| NOI | $59.9k | $13.13 |
4,560 SF · lease $18.48/SF/yr · vacancy 5.30% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$855.0K
$748.2K – $997.5K
NOI $59,852 @ 7.0% cap · market cap 3.54%
Second Best
Retail
$777.3K
$680.1K – $906.9K
NOI $54,411 @ 7.0% cap · market cap 3.22%
Theoretical Best
Office A
$1.08M
$941.3K – $1.26M
NOI $75,302 @ 7.0% cap · market cap 4.46%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
13
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 98262, WA
934
Population
912
Households
1
Avg Household Size
61
Median Age
60%
College-Educated
99%
High-School Grad
9.2 sq mi
ZIP Area
102
Density / Sq Mi
$76,528
Median Household Income
$65,855
Median Earnings
$529,000
Median Home Value
Market
Vacancy Rate% for Retail in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Bed & breakfast - Restaurant, bar, cottage, and guest rooms with stunning views.
Where is this bed & breakfast located?
The property is located at 2579 Shore Dr Lummi Island, WA.
What is the asking price?
The asking price for this property is $1,690,000.
What are key features of this property?
This property features: Restaurant and bar included.; Stunning views from all guest rooms.; Seven guest rooms plus a detached cottage.
