Property Details
5589 Harbor Avenue
Freeland, WA 98249
$695,000
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Property Overview
Prime Location in Freeland. Solid businesses occupies two spaces Farmer Insurance and Chicago Title & Escrow. There is one 500 square foot office that is will be leased beginning of May. The going rate for this space is $2.00 per square foot. Occupied it adds $12,000 per year in income. Cap rate is 8%. This is a great investment property.
Property Details
Property Information
Property Type
Commercial Sale
Subtype
Commercial Industrial
Status
Active
County
Island
Neighborhood
Freeland
Listed
Nov 15, 2024
Financial Summary
Cap Rate
8.00%
Net Operating Income
$55,418
Gross Scheduled Income
$54,600
Gross Rent Multiplier
10.75
Total Expenses
$9,782
Total Actual Rent
$4,550/mo
Building & Use
Building Sq Ft
2,805
Total Units
3
Sq Ft Rented
2,291
Zoning
Commercial
Possible Use
Commercial
Lot Size
11,761 sqft
Year Built
1978
Exterior & Lot
Lot Size
0.27 sqft
Year Built
1978
Exterior Materials
Wood
Sewer
Septic Tank
Water Source
Public
Exterior Features
Wood
Location
City
Freeland
County
Island
Coordinates
48.00849, -122.52413
Additional Information
Tax Year
2024
Annual Taxes
$2,821
Possession
Array
Based on information submitted to the MLS GRID as of April 25, 2026 5:10 PM. 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.
