2034 Main StFerndale, WA 98248

Property Details for 2034 Main St

Year built

1913

Lot size

0.13 AC

Property size (Sq ft)

4,014 SF

Zone code

CTC

Property type

Retail properties

Property subtype

Retail space

APN

390229 100516 0000

APU

3902291005160000

Description

This exceptional commercial property, located at 2034 Main Street in the thriving downtown Ferndale, Washington, presents a unique investment opportunity. Priced at $1,600,000, the property encompasses two fully operational restaurants, complete with all fixtures and equipment, ensuring immediate income generation. The existing businesses are turn-key, ready for a new owner to step in and continue operations. Beyond the established revenue streams, the property's zoning allows for the construction of apartments above the existing structures, significantly expanding the potential return on investment. This presents a rare chance to capitalize on Ferndale's growth trajectory by adding residential units to a high-traffic, central location. The property sits on a lot of zero acres. The seller is offering owner financing with a low down payment, making this an accessible opportunity for serious investors. This is a prime location in a bustling downtown area, offering significant potential for both immediate income and future development. The combination of established businesses and development potential makes this a truly exceptional investment opportunity in a growing Washington town. Don't miss this chance to acquire a property with immediate income and substantial long-term growth potential. Serious inquiries only.

• CAP approach

  CAP return

  Valuation

  6%

  $1,591,592

  6.5%

  $1,469,162

  7%

  $1,364,222

• Comparable approach

  Method

  Valuation

  Relative Method

  $3,074,775

  Geo Method

  $1,948,001

• Alternative Use

  Use

  Valuation

  Residential

  $1,239,293

  Hospitality

  $1,135,186

  Educational

  $944,461

  Medical

  $976,942

  Retail

  $1,469,162

Location Insight

City

Ferndale

County

Whatcom

State

Washington

Latitude

48.8471

Longitude

-122.591

CBSA code

13380

CBSA name

BELLINGHAM, WA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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