$2,525,000
ActiveListing provided by Gregory King, Windermere RE San Juan Islands
2
DOM
About this property.
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.
Features.
Exterior
Heating
Cooling
Flooring
Agent information.
Schedule a Showing
Pick a day and time, and Austin will follow up to confirm.
By continuing, you consent to be contacted by Welcome to Whatcom and John L. Scott - Bellingham about this showing via call, text, or email.
Listed by: Gregory King, Windermere RE San Juan Islands
Courtesy of Windermere RE San Juan Islands
Source: NWMLS, MLS#: 2542686
Listing data deemed reliable but not guaranteed. Based on information submitted to the MLS GRID as of 06/24/2026, 12:15:30 PST. 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. Provided by NWMLS as distributed by MLS Grid.
IDX information is provided exclusively for consumers' personal, noncommercial use. It may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The data is deemed reliable but is not guaranteed by MLS GRID.
Any use or search of data on this website, other than by a consumer looking to purchase real estate, is prohibited.
Listed by Gregory King, Windermere RE San Juan Islands
$2,525,000
Active849 Spring Street , Friday Harbor, WA 98250
1.70
Lot Acres
1993
Year Built
2
Days on Market
About This Property
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
Features
Exterior
Heating
Cooling
Flooring
Agent Information
Schedule a Showing
Pick a day and time, and Austin will follow up to confirm.
By continuing, you consent to be contacted by Welcome to Whatcom and John L. Scott - Bellingham about this showing via call, text, or email.
Listed by: Gregory King, Windermere RE San Juan Islands
Courtesy of Windermere RE San Juan Islands
Source: NWMLS, MLS#: 2542686
Listing data deemed reliable but not guaranteed. Based on information submitted to the MLS GRID as of 06/24/2026, 12:15:30 PST. 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. Provided by NWMLS as distributed by MLS Grid.
IDX information is provided exclusively for consumers' personal, noncommercial use. It may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The data is deemed reliable but is not guaranteed by MLS GRID.
Any use or search of data on this website, other than by a consumer looking to purchase real estate, is prohibited.