Listing ID1921437
Price$1,599,950
StatusActive
SqFt
26,120
Acres
1.250
CountyIsland
Year Built1951
Property TypeCommercial Sale
Property Sub TypeCommercial Industrial
$100, 000 Price Reduction. This is an exceptional value as a cash flow investment and a long term hold, as well. 7.74 Cap rate. An excellent tenant in "Furniture World" who has been a tenant for over 20 years and wants to stay. This is the closest Commercial Building to the Whidbey Island Naval Air Station (150 feet from the main entrance to the Base). The current owner recently Silver Coated the entire roof in the last two years, upgraded the well, water system, septic system, & did major improvements to the storm water system. Substantial upgrades to the interior of the building as well.. The second tenant is the closest expresso drive up to the Naval base. The lot is 1.25 acres, the building is 26,120sq.ft.
County
Island
Price Reduction Date
2023-07-21T23:19:24+00:00
Property Sub Type
Commercial Industrial
Property Type
Commercial Sale
Subdivision
Oak Harbor
Year Built
1951
Approximate Office Square Feet
1000
Approximate Warehouse Manufacturing Square Feet
25
Building Area Units
Square Feet
Building Features
Disabled Access, Signage Included, Storage
Flooring
Carpet
Interior Features
Wall to Wall Carpet
Living Area Units
Square Feet
Covered Spaces
30
Depth Of Lot
192
Elevation Units
Feet
Exterior Features
Cement/Concrete, See Remarks, Wood
Foundation Details
Poured Concrete, Slab
Lot Number
Lengthly legal
Lot Size Dimensions
220x192
Lot Size Square Feet
54450
Lot Size Units
Square Feet
MLS Lot Size Source
Assessor
Number Of Units Total
2
Parking Total
60
Parking Uncovered Total
30
Roof
Composition
Sewer
Septic Tank
Sewer Company
Septic
Site Frontage
220
Structure Type
Unspecified
Style Code
61 - Comm Bldg Ovr 10K
Water Company
Fischer Water Assoc
Water Source
Community, See Remarks
Country
US
MLS Area Major
813 - North Whidbey Island
Topography
Level
Zoning Class
Commercial
Zoning Jurisdiction
County
Boundary Survey
true
Environmental Survey
false
Loading
1-3 Bays,Grade
Mls Status
Active
Offers
Seller intends to review offers upon receipt
Possible Use
Commercial
Power Company
PSE
Power Production Type
Electric, Propane
Preliminary Title Ordered
yes
Show Map Link
yes
Cap Rate
7.74
Gross Adjusted Income
123810
Gross Rent Multiplier
13
Gross Scheduled Income
138958
Improvements Assessed Value
557632
Insurance Expense
8251
Land Assessed Value
163350
Net Operating Income
123810
Other Expense
2400
Possession
Closing, Tenant's Rights
Sale Type
MLS
Seller Disclosure
Not Provided
Special Listing Conditions
None
Tax Annual Amount
4497
Tax Year
2024
Total Actual Rent
11185
Total Assessed Value
720982
Total Expenses
15148
Total Sqft Rented
26120
Year Value Assessed
2022
Based on information submitted to the MLS GRID as of Thursday, March 28th, 2024 07:53:52 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.
Contact - Listing ID 1921437
Rolanda Carriere
3815 S. Othello St., Suite 100-183
Seattle, WA 98118
Phone: 206-999-0023
Data services provided by IDX Broker