31650 State Rte 20, Oak Harbor, WA 98277-3123

Property Details for 31650 State Rte 20

Year built

1979

Lot size

0.37 lot acres

Zone code

OH

Property type

Commercial real estate

APN

S6575-01-0000B-1

APU

S6575010000B1

Description

This exceptional owner-user or investment opportunity presents a 3,663 square foot retail/office storefront located at 31650 State Route 20 in Oak Harbor, Washington, 98277. The property boasts a highly visible location along a main arterial, offering excellent signage potential and tasteful landscaping. Built in 1979, this single-story building sits on a 16,117 square foot lot and includes 20 parking spaces. The property features a net rentable area of 3,500 square feet and is currently occupied by two tenants under a triple-net (NNN) lease, generating a strong net operating income (NOI) of $48,343, resulting in a 5.52% capitalization rate. The asking price is $875,000, translating to a price per square foot of $238.88. The property consists of one building with three units, offering flexibility for various business needs. There is no deferred maintenance, making this a turnkey investment or owner-user opportunity in a growing market. This property presents a rare combination of strong income potential, excellent visibility, and a desirable location in Oak Harbor. The property's well-maintained condition and prime location make it an attractive option for both investors and owner-users seeking a stable and profitable venture. The substantial lot size provides ample space for future expansion or additional development.

Location Insight

City

Oak Harbor

County

Island

State

Washington

Longitude

-122.657

Latitude

48.2906

CBSA code

36020

CBSA name

OAK HARBOR, WA MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments