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Property profile

2080 Alder St Ferndale, WA 98248

OFF-MARKET
Investment properties
Property ID
US90-1508009
3,448 SF 0.16 ac lot Built 1977
Entity Owned 8-yr Hold Free & Clear

Property summary

AI-generated overview

This exceptional commercial property, located at 2080 Alder Street in the heart of downtown Ferndale, Washington, presents a unique investment opportunity for both owner-users and investors. The well-maintained building offers a versatile layout, ideal for a variety of businesses. The main floor encompasses a spacious office area, thoughtfully divided into five private offices, a welcoming reception area, two convenient restrooms, and a fully equipped kitchen. This area is currently projected to generate $2,500 in monthly rental income. Adding to its appeal, the property includes a substantial second-floor apartment, boasting two bedrooms, two bathrooms, and a generous 1800 square feet of living space. This apartment is projected to command a monthly rental income of $2,000. The property is ready for immediate occupancy, eliminating the need for extensive renovations or upgrades. Its prime downtown location offers excellent visibility and accessibility, ensuring high traffic and potential for strong tenant occupancy. The combination of office space and a residential apartment provides a unique opportunity for diversified income streams and potential for future appreciation. This turnkey property is an exceptional investment opportunity in a thriving downtown area. Serious inquiries are encouraged.

Property profile

Verified
Property type Investment properties
Use group OFFICE/RESIDENTIAL (MIXED USE)
Year built 1977
Total area 3,448 SF
Lot 0.16 ac (6,970 SF)
Zoning code CTC
APN 390229 044515 0000
UPID US90-1508009

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Current use

Occupant on record · Public records
  • Plumbing Service

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
$675k
Comparable Approach Comparable
$895k
Blend (final) Blend
$310k

Owner & transaction history

since 2018
5 recorded transactions
2018
Price N/A
2018
$332,500
2012
Price N/A
2009
Price N/A
1969
Price N/A

Zoning & alternative use

CTC · Ferndale, WA
Top alternative use upside
Medical building $1.1M +17.8%
Office building $1.0M +10.5%

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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