Property Details
849 Spring Street
Friday Harbor, WA 98250
$2,525,000
Active
Schedule a Showing
Select your date preference
Request More Info
1 / 39
Property Overview
Exceptional opportunity to acquire Spring Street Square, an established income-producing asset in Friday Harbor. Offering approximately 20,000± square feet across five buildings, the property is currently configured as 24 units with a strong, diverse tenant mix providing stable cash flow. Operating near capacity, the property currently delivers an attractive 6.5% cap rate, with projected returns of approximately 7.8% upon stabilization, presenting a compelling value-add investment opportunity. Ideally located with prominent Spring Street frontage, the property offers excellent visibility, ample parking, and close proximity to the hospital and airport. The sale includes two tax parcels, featuring an additional 0.55± acre vacant lot—creating valuable future development potential. Recent upgrades include installation of a fire suppression system, improvements to landings and railings, and exterior paint. With the option to incorporate short- or mid-term residential units, this property presents a unique opportunity to further diversify income, enhance long-term value, and capitalize on strong demand in one of the Pacific Northwest's most desirable island communities.
Property Details
Property Information
Property Type
Commercial Sale
Subtype
Commercial Industrial
Status
Active
County
San Juan
Neighborhood
Town
Listed
Jun 22, 2026
Parcel Number
351491613000
Tax & HOA
Annual Property Tax
$13,470 (2026)
Est. Monthly Tax
$1,123/mo
Financial Summary
Cap Rate
6.50%
Net Operating Income
$155,373
Gross Scheduled Income
$283,070
Gross Rent Multiplier
8.80
Total Expenses
$99,828
Vacancy Rate
10.0%
Building & Use
Building Sq Ft
19,474
Zoning
Commercial
Possible Use
Commercial
Lot Size
1.70 acres
Year Built
1993
Exterior & Lot
Lot Size
1.70 sqft
Year Built
1993
Exterior Materials
Wood
Sewer
Sewer Connected
Water Source
Public
Exterior Features
Wood
Community & Access
Directions
Spring Street just past water tower, on Left hand side – Spring Street Square, 849 Spring St, Buildings A, B, C, D, E
Location
City
Friday Harbor
County
San Juan
Coordinates
48.53023, -123.02724
Additional Information
Tax Year
2026
Annual Taxes
$13,470
Possession
Array
Based on information submitted to the MLS GRID as of June 23, 2026 9:53 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.
