127 Fairhaven AveBurlington, WA 98233

Property Details for 127 Fairhaven Ave

Year built

1900

Lot size

0.17 AC

Property size (Sq ft)

2,060 SF

Property type

Office properties

Property subtype

Office buildings

APN

4076-099-022-0007

APU

40760990220007

Description

This exceptional 0.17-acre commercial property at 127 E Fairhaven Avenue, in the heart of downtown Burlington, WA, presents a unique investment opportunity. Previously operating as a tea room, this building boasts significant character and charm, situated in a high-traffic area with excellent visibility on Burlington Blvd. The structure offers versatile space, previously configured as five office spaces, a conference room, a break room, and two bathrooms. A separate storage building and a two-car carport add to the property's functionality. Recent improvements enhance its appeal and adaptability. These include a new entrance/exit to the main floor patio, a new exterior side entrance/exit to the upstairs office suite, and new fencing around the property. Several doorways have been widened to accommodate potential Accessory Dwelling Unit (ADU) access. A significant upgrade has been completed with the installation of a new 200-amp electrical panel. The building's history as an office space and its recent use as a tea room demonstrate its adaptability to a wide range of commercial ventures. The possibilities are endless for a creative entrepreneur seeking a well-located, charming building with recent upgrades. Priced at $479,000, this property offers a compelling opportunity to establish a thriving business in a desirable downtown location.

• CAP approach

  CAP return

  Valuation

  6%

  $555,654

  6.5%

  $512,911

  7%

  $476,275

• Comparable approach

  Method

  Valuation

  Relative Method

  $626,185

  Geo Method

  $396,715

• Alternative Use

  Use

  Valuation

  Residential

  $636,010

  Hospitality

  $582,582

  Educational

  $484,701

  Medical

  $501,371

  Retail

  $753,979

Location Insight

City

Burlington

County

Skagit

State

Washington

Latitude

48.4758

Longitude

-122.335

CBSA code

34580

CBSA name

MOUNT VERNON-ANACORTES, WA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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