For Sale
$865,000

860 Bayshore DrOak Harbor, WA 98277

Prime CBD Office, Stunning Views

Overview

Added:
Dec 11, 2024
Days on market:
113
This exceptional two-story, 4,358 square foot executive office building in Oak Harbor, WA's Central Business District (CBD) presents a compelling owner-user or investment opportunity. Boasting stunning views and situated on a 0.29-acre lot, the property includes three units within a Class B building constructed in 1987. Recent tenant improvements exceeding $180,000 enhance its functionality and appeal. The building offers convenient access to Flintstone Park and benefits from a prime location within a vibrant waterfront community experiencing significant growth fueled by a strong military presence (Naval Air Station Whidbey's projected 20% personnel increase) and new developments, including a planned 102-room Hilton Hotel on the same block. The property features three parking spaces and is offered at $865,000, representing a 4.30% cap rate and a price per square foot of $195.30. The property is zoned for CBD use and includes a total of three units. This is a rare opportunity to acquire a well-maintained, high-value office building in a rapidly growing market. The Net Lease (NNN) structure provides additional investment flexibility.

Highlights

  • $865,000 asking price for this owner-user opportunity.
  • 4,358 square feet of office space in a Class B building.
  • Located in Oak Harbor, WA's Central Business District (CBD) on a 0.29-acre lot.
  • Features three units in a two-story building constructed in 1987.
  • Offers a 4.30% cap rate with a price per square foot of $195.30.
  • Includes three parking spaces and is a NNN lease.

Property Details for 860 Bayshore Dr

Property type
Office properties
Square Feet
4,358 SF
Class
B
Year Built
1987
Buildings
1
Stories
2
Lot Size (sq. ft)
12,632 SF
Units
3

Location Insight

City
Oak Harbor
County
Island
State
Washington
Latitude
48.2880352
Longitude
-122.6472568
860 Bayshore Dr, Oak Harbor, Washington

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860 Bayshore Dr
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