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    199 Main St Eastsound, WA 98245

    Sponsored
    For Sale
    $1,650,000

    Prime Orcas Island location, high revenue potential.

    Property size:
    3,344 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    394
    This exceptional commercial property, located at 199 Main Street in Eastsound, Washington, presents a unique investment opportunity on Orcas Island. Priced at $1,650,000, this 3,344 square foot mixed-use property sits on a sizable 1.369-acre lot and boasts a 100% occupancy rate with two established tenants. The two-story building, constructed in 1974, features a ground-floor retail space and an upstairs apartment. A detached garage and eight parking spaces are also included. The property benefits from Village Commercial zoning, allowing for diverse development possibilities, including up to 40 units per acre, vacation rentals, hotels, restaurants, bars, and retail sales. Its prime location in the heart of Eastsound Village, adjacent to a public park hosting community events, ensures high visibility and foot traffic. The property's strong existing cash flow provides a solid foundation for future development or immediate income generation. Orcas Island's thriving tourism industry, with over 620,000 ferry riders in 2023 and significant visitor spending, further enhances the investment potential. This property offers a blend of immediate income and long-term development possibilities in a desirable island setting. The two buildings are two stories each.

    Property Features for 199 Main St

    General Information

    Property type
    Individual retail properties
    Square Feet
    3,344 SF
    Lot Size
    59,634 SF

    Building Details

    Year Built
    1974
    Buildings
    2
    Stories
    2
    Units
    2

    HighLights

    • Ideal for future development or immediate owner‑occupancy.
    • High‑growth potential with flexible use options.
    Property Profile Location Intelligence

    Current Use by Public Records

    Pawki's For Pets Pet Supply Store

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Eastsound
    County
    San Juan
    State
    Washington
    Longitude
    -122.9079326
    Latitude
    48.69448

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    Nearby Similar for Sale

    • $4,995,000
      2,099 SF

      Orcas Island Organic Lavender Farm

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    FAQs

    What type of property is this?
    Individual retail property - Prime Orcas Island location, high revenue potential.
    Where is this individual retail property located?
    The property is located at 199 Main St Eastsound, WA.
    What is the asking price?
    The asking price for this property is $1,650,000.
    What are key features of this property?
    This property features: Ideal for future development or immediate owner-occupancy.; High-growth potential with flexible use 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
    199 Main St Eastsound, WA 98245
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