Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Retail Space in Harbor Station Title is generated by Realmo AI

    32650 Hwy 20, Oak Harbor, WA 98277

    View on Map
    Claim this Listing
    For Lease
    $1,664/Mo $19 SF/Yr (calc)

    Ground floor retail space in a high-traffic retail center.

    Type:Commercial
    Property size:
    1,051 SF
    Added:
    Jan 21, 2026
    Days on Market:
    129
    Last Refresh:
    Apr 5 at 11:28 pm

    Property Features for 32650 Hwy 20

    General Information

    Standard status
    Active
    Size
    1,051 SF
    Property subtype
    Commercial

    Building Details

    Year Built
    2007

    We can help!

    Listing Contact
    TROY MULJAT, CCIM

    Listing agent TROY MULJAT, CCIM

    Listing office THE MULJAT GROUP INC.

    Listing date Jan 21, 2026

    Source Corcoran

    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.

    HighLights

    • High‑traffic location in Harbor Station retail center on State Route 20.
    • Ground floor space suitable for small business operations.
    • Floor‑to‑ceiling windows providing ample natural light.
    • Opportunity to join nationally recognized retailers and professionals.
    • Property built in 2007.
    • Located in a retail center.

    Overview

    This ground floor retail space offers 1051 square feet suitable for small business operations. The space features floor-to-ceiling windows that provide ample natural light. It is located within the Harbor Station retail center on State Route 20, benefiting from high traffic and visibility. The center is home to a variety of nationally recognized retailers and professionals.
    Location Intelligence

    Current Use by Public Records

    Retail space

    Suggested Use

    Restaurant Big Box & Wholesale Store Food Market Bed & Breakfast Restaurant

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

    Location Insight

    • Map
    • Local Demand
    City
    Oak Harbor
    County
    Island
    State
    Washington
    Longitude
    -122.622336
    Latitude
    48.358245

    Nearby Similar for Lease

    • $3,250/Mo
      1,603 SF

      Downtown Oak Harbor Office Building

      Standalone office building in Oak Harbor's Downtown Business District.
      1121 Dock Street, Oak Harbor, WA 98277
      View Details
    • $9,500/Mo
      6,922 SF

      Downtown Oak Harbor Office Building

      Two-story office building with open space and parking.
      275 SE Pioneer Way, Oak Harbor, WA 98277
      View Details
    • $4,000/Mo
      2,586 SF

      Oak Harbor Commercial Space Available

      2586 sq ft commercial space in Oak Harbor's downtown.
      270 Pioneer Way, Oak Harbor, WA 98277
      View Details
    • $475/Mo
      147 SF

      Private Executive Suites For Rent

      Executive suites available for lease in a well-trafficked retail/office center.
      32650 Hwy 20, Oak Harbor, WA 98277
      View Details
    • $2,043/Mo
      1,066 SF

      Medical/General Office Space Available

      Office space near downtown with convenient parking and main street exposure.
      161 Barrington Dr, Oak Harbor, WA 98277
      View Details
    • $4,496/Mo
      1,927 SF

      Oak Harbor Medical Office Suite

      Ground-floor suite ideal for medical or office use.
      230 Cabot Drive, Oak Harbor, WA 98277
      View Details
    • $8,998/Mo
      3,880 SF

      Medical Office Space For Lease

      3,880 SF medical office space available for lease.
      380 Barrington Dr, Oak Harbor, WA 98277
      View Details
    • $4,000/Mo
      4,600 SF

      Downtown Oak Harbor Commercial Building

      4600 SF commercial building in Oak Harbor's busy downtown.
      270 SE Pioneer Way, Oak Harbor, WA
      View Details
    • $28 SF/Yr
      1,927 SF

      Medical Office Space Available

      Ground-floor suite ideal for medical or office use.
      230 Southeast Cabot Drive, Oak Harbor, WA
      View Details
    • $295 SF/Yr
      105 SF

      Oak Harbor Executive Offices Available

      Newly finished executive offices for lease in Oak Harbor.
      32650 Hwy 20, Oak Harbor, WA 98277
      View Details
    • $450/Mo
      133 SF

      Private Executive Suites For Rent

      Executive suites available in well-trafficked retail/office center.
      32650 Hwy 20, Oak Harbor, WA 98277
      View Details
    • $1,973/Mo
      1,246 SF

      Retail Space in Oak Harbor

      Retail space for lease in a busy Oak Harbor center.
      32650 Hwy 20, Oak Harbor, WA 98277
      View Details

    FAQs

    What type of property is this?
    Retail space - Ground floor retail space in a high-traffic retail center.
    Where is this retail space located?
    The property is located at 32650 Hwy 20 Oak Harbor, WA.
    What is the lease rate?
    The lease rate is $1,664 /Mo.
    What are key features of this property?
    This property features: High‑traffic location in Harbor Station retail center on State Route 20.; Ground floor space suitable for small business operations.; Floor‑to‑ceiling windows providing ample natural light.
    (360) 733-3030
    We can help!
    Listing Contact
    TROY MULJAT, CCIM
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    32650 Hwy 20, Oak Harbor, WA 98277
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!