For Sale
$995,000

5577 Vanbarr Pl Freeland, WA 98249

High-Cap Rate Medical Office Building

Overview

Added:
Feb 3
Days on market:
73
This exceptional commercial building presents a compelling investment opportunity in the thriving town of Freeland, Washington, situated on picturesque Whidbey Island. Currently operating as a successful medical practice, this property boasts a strong 7.7% cap rate and benefits from long-term triple-net lease agreements, ensuring consistent income. A comprehensive remodel in 2016 significantly enhanced the building's functionality and aesthetics. Upgrades include a brand-new storefront, durable LVP flooring, a modern snaploc metal roof, a completely updated HVAC system, and a new water heater equipped with a recirculating pump. The interior features solid oak doors, six fully equipped exam rooms each with sinks, updated lighting, upgraded bath fixtures, and attractive maple cabinets throughout. A dedicated procedure room is also included, complete with storage, a sink, and an operatory light. The property's fiber optic cabling ensures high-speed internet connectivity. Beyond the main building, the sale includes eight grade-level storage bays housed in durable storage containers located behind the structure. This well-maintained property, coupled with its reliable tenants, represents a truly exceptional investment prospect. The building is located in the heart of Freeland, offering excellent visibility and accessibility.

Property Details for 5577 Vanbarr Pl

Property type
Commercial real estate
Year Built
1976

Location Insight

City
Freeland
County
Island
State
Washington
Latitude
48.00859
Longitude
-122.5267
5577 Vanbarr Pl, Freeland, Washington

FAQs

What type of property is this?
Commercial real estate - High-Cap Rate Medical Office Building
Where is the commercial real estate located?
The property is located at 5577 Vanbarr Pl Freeland, WA.
What is the asking price?
The asking price for this property is $995,000.
How can I contact the broker?
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5577 Vanbarr Pl
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