5570 Harbor Ave Freeland, WA 98249
- Commercial real estate
- 2,400 SF
- 0.28 lot acres
Current Use by Public Records
- Tae's Hair Shop / Hair Salon
- My Hearing Centers / Hearing Aid Store
- Whidbey Property Management / Property Maintenance / Real Estate Rental Agency
- Epstein Custom Homes / Home Builder
Property Details for 5570 Harbor Ave
- Year built
- 1962
- Lot size
- 0.28 lot acres
- Property size
- 2,400 SF
- Zone code
- 50
- Property type
- Commercial real estate
- APN
- R22911-039-0970
- APU
- R229110390970
Description
This exceptional investment opportunity presents a one-level brick commercial building boasting 100% occupancy and a remarkable 6.5% capitalization rate—a rarity in South Whidbey's market. Strategically located in Freeland's thriving business hub at 5570 Harbor Avenue, this property offers four commercial spaces within a single building, currently leased to three tenants. Recent significant upgrades enhance its value and appeal, including a completely renovated septic system, a new roof, updated interior wiring, and the installation of energy-efficient ductless mini-split heating and cooling systems. Furthermore, tenant-specific improvements have been made to ensure optimal functionality and attractiveness for each space. The building is exceptionally well-maintained and presents in excellent condition. Ample parking is provided with 12 designated spots. Beyond the building, a sizable backyard offers versatile space ideal for storage, employee gatherings, or other outdoor uses. Showings are strictly by appointment only to ensure minimal disruption to the current tenants. This property represents a strong, stable investment with significant potential for long-term returns. The exceptional cap rate and high occupancy make this a truly unique opportunity in the South Whidbey commercial real estate market.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $330,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $350,000
- 6.5%
- $415,000
- 7%
- $370,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $340,000
- Geo Method
- $345,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $380,000
- Retail
- $315,000
- Mixed-Use
- $360,000
- Hospitality
- $360,000
- Educational
- $345,000
- Residential Income
- $340,000
- Energy
- $335,000
- Income-Based Land
- $335,000
- Food Service
- $410,000
Location Insight
- Map
- Local Demand
- City
- Freeland
- County
- Island
- State
- Washington
- Longitude
- -122.525
- Latitude
- 48.0089
- CBSA code
- 36020
- CBSA name
- OAK HARBOR, WA MICROPOLITAN STATISTICAL AREA
