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Multi Tenant Flex Use Commercial Investment Opportunity in Friday Harbor. Positioned just outside Friday Harbor’s downtown core, this well-maintained commercial property offers 11,500 sqft of versatile space in a strategic location. With close proximity to the Airport, Hospital, Post SJ, SJI Food Co-op & Bakery SJ, the property benefits from accessibility & a location that supports long-term tenant demand. Three UNITS downstairs; UNIT C 3000 sqft. Assembly has large open space w/2 WC, and other versatile spaces.UNIT D2 1900 sqft. Cabinet shop w/WC & Large side loading/garage door, UNIT D1 1000 sqft. Acupuncture/Wellness center w/WC & flex spaces. Upstairs has four spaces & a common space/hallway w/2 WC; one w/shower. UNIT F 1300 sqft. Dance Studio, UNIT E 1500 sqft. Office/Flex space w/Kitchen, UNITS G & H are 1150 sqft. 2 Bdrm Aptartments w/2 WC & laundry en-suite. Each Unit is Metered for power & water/sewer. Solar array on roof is net metered for large savings on electricity bill. 19 parking spots, recently resurfaced parking lot. A proven income-producing asset w/dependable cash flow & compelling potential. Its excellent upkeep, flexible layout & stable island market make it an attractive option for investors seeking both immediate performance and lasting value. For commercial real estate investors looking to secure a reliable, well-located asset in one of the San Juan Islands’ most desirable markets, this opportunity deserves serious consideration.

2558109 MLS

687 Airport Center Road, Friday Harbor

Listing Broker: Windermere RE San Juan Islands; Vail McClure; 360-378-3600; vailsanjuan@gmail.com

$2,525,000

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.

2542686 MLS

869 849 Spring Street, Friday Harbor

Listing Broker: Windermere RE San Juan Islands; Gregory King; 360-378-3600; greg@gregkingsanjuan.com

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