5589 Harbor Avenue, Freeland, WA 98249

$695,000

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Listing Broker: Windermere RE/South Whidbey; Mary Matthew; 360-914-1449; marymatthew@windermere.com

List Price
$695,000
Status
ACTIVE
MLS#
2309044
Days on Market
658
Annual Tax Ammount
3296.2
Internet Provider
Whidbey Telecom/Xfinity

Property Description

Prime location in Freeland. Solid business occupy three spaces Farmers Insurance, Chicago Title and Poptop World. This commercial building is in an excellent location and fully leased. The going rate for these offices is $2.00 per square foot. The tenants are stable and long term. The cap rate for this building is 8%. The building itself is in excellent condition. A new roof has been scheduled to be completed in the summer of 2026. This is an excellent investment!

Additional Information

Community
Freeland
Building Condition
Good
Style
73 - Office
Year Built
1978
Roof
Metal
Tax Year
2024
Potential Terms
Conventional
Flooring
Ceramic Tile, Vinyl, Carpet
Driving Directions
From the Clinton ferry Hwy 525 N to Right on Harbor Avenue to address.
Other Expenses
1750
Energy Source
Electric
Net Operating Income
$56,342
Gross Adjusted Income
$66,600
Gross Scheduled Income
$66,600
Water/Sewer/Garbage Expenses
$1,114
Cap Rate
8
Total Expenses
$10,257
Based on information submitted to the MLS GRID as of . All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
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