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    900 24Th Ln Oak Harbor, WA 98277

    Sponsored
    For Sale
    $2,950,000

    10 Acres, Multi-Use Potential, High Income

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional 10-acre commercial property in Oak Harbor, WA, presents a lucrative investment opportunity. Located at 900 NE 24th Ln, 98277, this mixed-use property boasts 330 feet of road frontage and a depth of 1293 feet, situated within Oak Harbor city limits, just half a mile from NAS Whidbey. The property includes four buildings: three houses with covered parking generating consistent rental income, and a large shop/garage exceeding 2268 square feet. The land is commercially zoned, allowing for diverse uses including storage, manufacturing, light industrial operations, and retail. All utilities are available, with four city water connections and the possibility of city sewer. Convenient access is provided by a three-lane reversible traffic center lane roadway and a nearby bus line. A prescriptive easement allows access to all units across the neighboring property to the south (though no written agreement exists). A US Navy test well on the property offers additional leasing potential or termination options. The property is free of known wetlands. This prime location and versatile zoning make this a truly unique and high-value investment. APN: R133262723510.

    Property Features for 900 24Th Ln

    General Information

    Property type
    Multifamily properties

    Building Details

    Buildings
    4
    Units
    3

    HighLights

    • All utilities are available on‑site.
    • Access to all units is via a prescriptive easement across the adjacent property to the south.
    • A US Navy test well on the property offers potential lease income or termination options.
    • Excellent location.
    • No wetlands are present on the property.
    Property Profile Location Intelligence

    Current Use by Public Records

    Residential income homes

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Oak Harbor
    County
    Island
    State
    Washington
    Longitude
    -122.6465579
    Latitude
    48.3186444

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    FAQs

    What type of property is this?
    Multifamily property - 10 Acres, Multi-Use Potential, High Income
    Where is this multifamily property located?
    The property is located at 900 24Th Ln Oak Harbor, WA.
    What is the asking price?
    The asking price for this property is $2,950,000.
    What are key features of this property?
    This property features: All utilities are available on-site.; Access to all units is via a prescriptive easement across the adjacent property to the south.; A US Navy test well on the property offers potential lease income or termination options.
    Request Owner's contact information
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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
    900 24Th Ln Oak Harbor, WA 98277
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