5570 Harbor AveFreeland, WA 98249

Property Details for 5570 Harbor Ave

Year built

1962

Lot size

0.28 AC

Property size (Sq ft)

2,400 SF

Zone code

50

Property type

Commercial real estate

APN

R22911-039-0970

APU

R229110390970

Description

This exceptional investment opportunity presents a one-level brick commercial building boasting 100% occupancy and a remarkable 6.5% capitalization rate—a rarity in South Whidbey's market. Strategically located in Freeland's thriving business hub at 5570 Harbor Avenue, this property offers four commercial spaces within a single building, currently leased to three tenants. Recent significant upgrades enhance its value and appeal, including a completely renovated septic system, a new roof, updated interior wiring, and the installation of energy-efficient ductless mini-split heating and cooling systems. Furthermore, tenant-specific improvements have been made to ensure optimal functionality and attractiveness for each space. The building is exceptionally well-maintained and presents in excellent condition. Ample parking is provided with 12 designated spots. Beyond the building, a sizable backyard offers versatile space ideal for storage, employee gatherings, or other outdoor uses. Showings are strictly by appointment only to ensure minimal disruption to the current tenants. This property represents a strong, stable investment with significant potential for long-term returns. The exceptional cap rate and high occupancy make this a truly unique opportunity in the South Whidbey commercial real estate market.

• Alternative Use

  Use

  Valuation

  Residential

  $740,982

  Hospitality

  $678,736

  Educational

  $564,700

  Medical

  $584,121

  Retail

  $878,422

Location Insight

City

Freeland

County

Island

State

Washington

Latitude

48.0089

Longitude

-122.525

CBSA code

36020

CBSA name

OAK HARBOR, WA MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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