35 Ely StOak Harbor, WA 98277

Property Details for 35 Ely St

Year built

1948

Construction

WOOD

Lot size

0.69 AC

Property size (Sq ft)

4,488 SF

Zone code

OH

Property type

Office properties

Property subtype

Office buildings

APN

S7600-00-01006-2

APU

S760000010062

Description

This exceptional commercial land parcel, located at 35 SE Ely Street in Oak Harbor, Washington, presents a compelling investment opportunity. Boasting 194 feet of highway frontage at the main intersection of Highway 20 and Whidbey Avenue, this property ensures unparalleled visibility and accessibility. A large reader board further enhances its marketing potential. The existing building on the site offers 4,488 square feet of total space, divided across two floors. The main floor comprises 3,278 square feet, with 2,643 square feet currently leased and 635 square feet available. The upper floor, totaling 1,210 square feet, is currently vacant. Recent improvements include a fresh coat of paint, remodeled restrooms, and a new monitored fire alarm system. The property offers ample parking and versatile office spaces suitable for a single tenant or multiple occupants. Its prime location in Oak Harbor, Island County, WA 98277 (48.2981497, -122.6526039), guarantees high traffic and strong potential for return on investment. This is an ideal opportunity for those seeking a high-impact commercial property with significant growth potential. The asking price for this exceptional property is $875,000.

• CAP approach

  CAP return

  Valuation

  6%

  $1,214,464

  6.5%

  $1,121,044

  7%

  $1,040,969

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,203,520

  Geo Method

  $864,299

• Alternative Use

  Use

  Valuation

  Residential

  $1,390,094

  Hospitality

  $1,273,319

  Educational

  $1,059,386

  Medical

  $1,095,820

  Retail

  $1,647,934

Location Insight

City

Oak Harbor

County

Island

State

Washington

Latitude

48.2981

Longitude

-122.653

CBSA code

36020

CBSA name

OAK HARBOR, WA MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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