Provided by NWMLS
Listed by: 360-378-3600; greg@gregkingsanjuan.com; Gregory King; Windermere RE San Juan Islands
© MLS GRID. All rights reserved.
Listings courtesy of Northwest MLS as distributed by MLS GRID.
IDX information is provided exclusively for consumers' personal, noncommercial use, and 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. Use of MLS GRID data may be subject to an end-user license agreement prescribed by the applicable MLS, as amended from time to time.
Based on information submitted to the MLS GRID as of 13th November, 2026 9:54 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. Updated: 13th November, 2026 9:54 PM (UTC)
Listings courtesy of Northwest MLS as distributed by MLS GRID.
IDX information is provided exclusively for consumers' personal, noncommercial use, and 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. Use of MLS GRID data may be subject to an end-user license agreement prescribed by the applicable MLS, as amended from time to time.
Based on information submitted to the MLS GRID as of 13th November, 2026 9:54 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. Updated: 13th November, 2026 9:54 PM (UTC)
Description
Exceptional investment opportunity to acquire Spring Street Square, a well-established income-producing commercial asset in Friday Harbor. Offering approximately 20,000± square feet across five buildings and 24 units, the property features a diversified tenant mix, strong occupancy, and consistent cash flow. Currently operating near capacity at an attractive 7.23% cap rate, Spring Street Square offers additional upside with projected returns of approximately 8.7% upon stabilization. The combination of in-place income and opportunities to optimize rents and operations creates a compelling investment profile in a market with limited commercial inventory. Prominent Spring Street frontage provides excellent visibility and access, along with ample on-site parking and proximity to downtown Friday Harbor, the hospital, and airport. An adjacent 0.55± acre vacant parcel is available separately, offering an additional opportunity for expansion, future development, or a complementary investment strategy. Recent capital improvements include installation of a fire suppression system and upgrades to landings and railings. With the potential for additional income strategies, including short- or mid-term residential uses, Spring street Square presents a rare opportunity to acquire a stabilized island asset with multiple avenues for long-term income growth and value appreciation.
