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    32650 State Rte 20 Oak Harbor, WA 98277

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    For Lease
    Contact for pricing

    Retail and office spaces available in Oak Harbor.

    Type:Retail, Office
    Added:
    Jul 22, 2021
    Days on Market:
    1734
    Last Refresh:
    Mar 17 at 1:17 pm

    Property Features for 32650 State Rte 20

    General Information

    Standard status
    Active
    Property subtype
    Retail, Office

    Spaces For Lease

    at 32650 State Rte 20 Contact us

    Suite D102-104 $18 /Mo

    Size
    Type
    Retail, Office
    RENT SPECIAL! 3 MONTHS FREE RENT FOR ANY 3 YEAR LEASE! nGround floor space, just...
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    Contact us

    Suite E-203 $16 /Mo

    Size
    1,428 SF
    Type
    Retail, Office
    RENT SPECIAL! 3 MONTHS FREE RENT FOR ANY 3 YEAR LEASE! Second floor office space,...
    show more
    Contact us

    Suite B103 $25 /Mo

    Size
    944 SF
    Type
    Retail, Office
    RENT SPECIAL! 3 MONTHS FREE RENT FOR ANY 3 YEAR LEASE! nCome locate your business...
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    Suite E-108 $19 /Mo

    Size
    1,246 SF
    Type
    Retail, Office
    RENT SPECIAL! 3 MONTHS FREE RENT ON ANY 3-YEAR LEASE! Ground floor unit. NNNs includes...
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    Suite E213 $33 /Mo

    Size
    105 SF
    Type
    Retail, Office
    Rent special! 1 month free rent on any 1-year lease!nPrivate Executive Suites located...
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    Suite E-212 $45 /Mo

    Size
    92 SF
    Type
    Retail, Office
    Rent special! 1 month free rent on any 1-year lease!nPrivate Executive Suites located...
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    Suite E-209 $40 /Mo

    Size
    133 SF
    Type
    Retail, Office
    Rent special! 1 month free rent on any 1-year lease!nPrivate Executive Suites located...
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    Suite C-101 $19 /Mo

    Size
    1,051 SF
    Type
    Retail, Office
    Contact us
    Show more

    We can help!

    Listing Contact
    Troy Muljat

    Listing agent Troy Muljat License #WA B12742

    Listing office Muljat Group Commercial

    Listing date Jul 22, 2021

    Source Crexi

    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 Muljat Group Commercial

    Overview

    Oak Harbor Retail/Office Space

    Located in the heart of Oak Harbor, this property offers ground floor retail space and second floor office space. A variety of space sizes are available. Current tenants in the center include Starbucks, Desert Sun Tanning, Davita, Thrive Fitness, and Toppins Yogurt.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    The UPS Store Courier Service Island Oral & Facial ... Dental Office 32650 WA-20 e105 Big Box & Wholesale Store US Navy Enlisted ... Military Recruiting Office Kimberly Montoya, MetLife ... Insurance Agency

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    Oak Harbor
    County
    Island
    State
    Washington
    Longitude
    -122.646968
    Latitude
    48.303041

    Nearby Similar for Lease

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      Downtown Oak Harbor Office Building

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      Oak Harbor Commercial Space Available

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      Private Executive Suites For Rent

      Executive suites available for lease in a well-trafficked retail/office center.
      32650 Hwy 20, Oak Harbor, WA 98277
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      Medical/General Office Space Available

      Office space near downtown with convenient parking and main street exposure.
      161 Barrington Dr, Oak Harbor, WA 98277
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      Oak Harbor Medical Office Suite

      Ground-floor suite ideal for medical or office use.
      230 Cabot Drive, Oak Harbor, WA 98277
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      Medical Office Space For Lease

      3,880 SF medical office space available for lease.
      380 Barrington Dr, Oak Harbor, WA 98277
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      Retail Space in Harbor Station

      Ground floor retail space in a high-traffic retail center.
      32650 Hwy 20, Oak Harbor, WA 98277
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      Private Executive Suites For Rent

      Executive suites available in well-trafficked retail/office center.
      32650 Hwy 20, Oak Harbor, WA 98277
      View Details
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      Downtown Oak Harbor Commercial Building

      4600 SF commercial building in Oak Harbor's busy downtown.
      270 SE Pioneer Way, Oak Harbor, WA
      View Details
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      Retail Space in Oak Harbor

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

      Oak Harbor Retail/Office Space

      Ground floor retail or office space available for lease.
      32650 Hwy 20, Oak Harbor, WA 98277
      View Details
    • Contact for pricing

      Downtown Oak Harbor Office Building

      Standalone office building in Downtown Oak Harbor with dedicated parking.
      1121 Southeast Dock Street, Oak Harbor, WA
      View Details

    FAQs

    What type of property is this?
    Retail space - Retail and office spaces available in Oak Harbor.
    Where is this retail space located?
    The property is located at 32650 State Rte 20 Oak Harbor, WA.
    What are key features of this property?
    This property features: Located in the heart of Oak Harbor.; Ground floor retail space available.; Second floor office space available.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Troy Muljat
    Real Estate License ID: WA B12742
    Learn More
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    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
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