849 Spring Street, San Juan Island, WA 98250

$2,100,000

Listing courtesy of Windermere RE San Juan Island. Selling Office: Tarragon Advisors.

Sold Price
$2,100,000
List Price
$2,300,000
Status
SOLD
MLS#
1742716
Closing Date
Oct 18, 2021
Days on Market
105
Annual Tax Ammount
16668

Property Description

Spring Street Square - Great Commercial Investment Opportunity! 19,350 +/- sf in 5 buildings currently utilized as 24 units with a variety of strong tenants. Desirable Spring Street frontage with ample parking. Close proximity to the hospital and airport. Opportunities for increased occupancy and space utilization to maximize this property's income producing potential! Property includes two tax parcels with further development options!

Additional Information

Community
Town
Building Condition
Good
Style
61 - Comm Bldg Ovr 10K
Year Built
1993
Roof
Composition
Tax Year
2021
Potential Terms
Cash Out, Conventional
Interior Features
Ceramic Tile, Concrete, Wall to Wall Carpet, Laminate Hardwood
Flooring
Ceramic Tile, Concrete, Laminate, Vinyl, Carpet
Driving Directions
Spring Street just past water tower, on Left hand side - Spring Street Square, 849 Spring St, Buildings A, B, C, D, E.
Electric Expenses
3163
Other Expenses
5709
Energy Source
Electric
Net Operating Income
$142,392
Gross Adjusted Income
$202,446
Gross Scheduled Income
$234,246
Water/Sewer/Garbage Expenses
$25,717
Cap Rate
6.2
Vacancy Rate
14
Total Expenses
$60,054
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