201 Pioneer WayOak Harbor, WA 98277

Property Details for 201 Pioneer Way

Year built

1965

Lot size

2.94 AC

Property size (Sq ft)

2,288 SF

Zone code

OH

Property type

Retail properties

Property subtype

Other automotive properties

APN

S6565-00-00B02-0

APU

S65650000B020

Description

This exceptional 3.66-acre property in Oak Harbor, Washington, presents a compelling redevelopment opportunity. Located at 201 SE Pioneer Way, this C-3 zoned site boasts 159,430 square feet and offers significant flexibility for mixed-use development, encompassing multi-family, commercial, and retail components. The property's strategic position along a high-traffic four-lane arterial provides excellent visibility and accessibility. Its proximity to Windjammer Park, stunning waterfront views, and a short walk to City Beach and the Oak Harbor CBD further enhance its desirability. The site includes two existing buildings and ample paved parking, with all utilities readily available. Currently occupied at 100% with a modified lease and multi-tenancy, the property is listed at $3,978,000 ($24.95/sq ft). This Qualified Opportunity Zone location offers substantial potential for investors seeking high-density development in a thriving community. The property is surrounded by commercial, retail, and upscale residential condominiums, ensuring a vibrant and desirable neighborhood.

• CAP approach

  CAP return

  Valuation

  6%

  $907,215

  6.5%

  $837,429

  7%

  $777,613

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,752,637

  Geo Method

  $1,110,370

• Alternative Use

  Use

  Valuation

  Residential

  $706,403

  Hospitality

  $647,061

  Educational

  $538,348

  Medical

  $556,862

  Retail

  $837,429

Location Insight

City

Oak Harbor

County

Island

State

Washington

Latitude

48.2869

Longitude

-122.655

CBSA code

36020

CBSA name

OAK HARBOR, WA MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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