For Sale
$1,150,000

32295 State Route 20 Oak Harbor, WA 98277

Established Restaurant, High ROI Potential

Property Records

Overview

Added:
Dec 11, 2024
Days on market:
139
This exceptional Oak Harbor, WA, investment opportunity presents a 4,850 square foot restaurant and brewery on a 0.84-acre lot. Located at 32295 State Route 20, the property boasts a prime location with high visibility and accessibility. The single-story building, constructed in 1961, sits on a C-3 (Community Commercial) zoned lot and includes 42 parking spaces. Currently generating a Net Operating Income (NOI) of $62,400 annually, representing a 5.43% capitalization rate, the asking price is $1,150,000 ($237.11 per square foot). The existing tenant, Flyers Restaurant & Brewery, is under a NNN lease expiring June 2029, offering potential for continued rental income or owner-user operation. The property's versatile nature and strong location make it ideal for both investors seeking a stable return and owner-operators looking to establish or expand their business. The ample parking and established infrastructure provide a solid foundation for continued success. This is a rare opportunity to acquire a well-positioned commercial property in a thriving community. APN: R13335-087-1410.

Property Details for 32295 State Route 20

Property type
Retail properties, Restaurants
Square Feet
4,850 SF
Year Built
1961
Buildings
1
Stories
1
Lot Size (sq. ft)
36,590 SF

Location Insight

City
Oak Harbor
County
Island
State
Washington
Latitude
48.2991057
Longitude
-122.6528114

FAQs

What type of property is this?
Retail property - Established Restaurant, High ROI Potential
Where is the retail property located?
The property is located at 32295 State Route 20 Oak Harbor, WA.
What is the asking price?
The asking price for this property is $1,150,000.
How can I contact the broker?
We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
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32295 State Route 20
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