Courtesy: Windermere Real Estate Whidbey
360-675-5953
Coreen Lerch
Excellent investment opportunity w/this commercial building in the heart of Freeland, WA on beautiful Whidbey Island. Currently a successful medical practice, this property sees a 7.7% cap rate w/long-term triple net tenants. The building underwent an extensive remodel in 2016. Improvements include: NEW store front, LVP flooring, snaploc metal roof, HVAC, water heater w/recirculating pump, solid oak doors, 6 exam rooms complete w/sinks, interior & exterior paint, upgraded fiberoptic cabling, lighting, bath fixtures, maple cabinets throughout, & 1 procedure room w/storage, sink & operatory light. Property sale includes grade level storage containers w/8 bays behind the building. Well maintained w/solid tenants equals a great opportunity!
Courtesy: Windermere RE/South Whidbey
360-221-8898
Mary Matthew
Prime Location in Freeland. Solid businesses occupies two spaces Farmer Insurance and Chicago Title & Escrow. There is one 500 square foot office that is currently not leased. The going rate for this space is $2.00 per square foot, so if it was occupied it would add $12,000 per year in income so the cap rate would increase to 8.1%. This is a great investment property.
Courtesy: John L. Scott Whidbey Island S
360-221-1828
Cheryl Keefe
Super investment opportunity with 100% occupancy and a 6.5% cap rate which is rare if not unheard of on South Whidbey. One level brick building with 3 tenants - 4 spaces located in Freeland South Whidbey's business hub. Many upgrades in past years including septic, roof, interior wiring, ductless mini-splits & tenant improvements. This building has been maintained & is in great condition. 12 parking spots, backyard has area for storage, office picnics & more! Do not disturb tenants, by appointment only!
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Freeland is located in Washington. Freeland, Washington has a population of 1,997. Freeland is more family-centric than the surrounding county with 28.84% of the households containing married families with children. The county average for households married with children is 26.09%.
The median household income in Freeland, Washington is $78,872. The median household income for the surrounding county is $75,628 compared to the national median of $69,021. The median age of people living in Freeland is 54.6 years.
The average high temperature in July is 73.2 degrees, with an average low temperature in January of 36.7 degrees. The average rainfall is approximately 23.1 inches per year, with 2.1 inches of snow per year.
