Property Details
110 N 1st Street
La Conner, WA 98257
$1,170,000
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Property Overview
LIVE AND WORK all on the same property !! Prime mixed-use investment opportunity in the heart of downtown La Conner with strong income potential and multiple revenue streams. This highly visible downtown property features street-level commercial space with full kitchen and excellent year-round foot traffic, currently occupied by the well-established The Wayfinder Cafe, a popular dining destination with a loyal customer base. ( Bussiness not for sale ) The street leval commercial space was remodeled in 2023, enhancing operational efficiency and long-term value. The upper-level two-story apartment was fully remodeled in 2024 and offers immediate short-term or long-term rental potential. The residence includes three bedrooms, a loft, a private rooftop deck with water and town views, and upgraded interior finishes throughout. New appliances, modern kitchen design, and a double-sided fireplace add strong appeal for both nightly and extended-stay rentals. Located in one of Washington’s most visited waterfront towns, this property benefits from consistent tourism, limited inventory, and strong demand for dining and lodging accommodations. Ideal for investors seeking diversified income, owner-users, or 1031 exchange buyers looking for stability, appreciation, and flexibility. A rare opportunity to acquire a turnkey mixed-use asset in a proven destination market.
Property Details
Property Information
Property Type
Commercial Sale
Subtype
Commercial Industrial
Status
Active
County
Skagit
Neighborhood
La Conner
Listed
Jan 28, 2026
Original Price
$1,175,000
Parcel Number
p74118
Tax & HOA
Annual Property Tax
$3,567 (2025)
Est. Monthly Tax
$297/mo
Financial Summary
Cap Rate
6.36%
Net Operating Income
$74,733
Gross Scheduled Income
$85,200
Gross Rent Multiplier
13.80
Total Expenses
$10,467
Building & Use
Building Sq Ft
2,542
Total Units
2
Zoning
Commercial
Possible Use
Commercial
Lot Size
2,448 sqft
Year Built
1993
Exterior & Lot
Lot Size
0.06 sqft
Year Built
1993
Exterior Materials
Wood
Sewer
Sewer Connected
Water Source
Public
Exterior Features
Wood, Wood Products
Community & Access
Directions
From Hwy 20, head S on La Conner Whitney Rd., R onto Morris from the roundabout, R on 1st St.
Location
City
La Conner
County
Skagit
Coordinates
48.39278, -122.49562
Additional Information
Tax Year
2025
Annual Taxes
$3,567
Possession
Array
Based on information submitted to the MLS GRID as of June 1, 2026 11:08 AM. 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.
IDX information is provided exclusively for consumers’ personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Copyright 2026 NWMLS. All rights reserved.
IDX information is provided exclusively for consumers’ personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Copyright 2026 NWMLS. All rights reserved.
