Windermere RE San Juan Islands, Gregory King, 360-378-3600, greg@gregkingsanjuan.com
Co-Listed By: Windermere RE San Juan Islands, Sybil Mager, 360-378-3600
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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.

Northwest Multiple Listing Service, MLS#: 2591273

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Building Features

  • Signage Included

Construction Materials

  • Wood

Cooling

  • Ductless

Exterior Features

  • Wood Products

Flooring

  • Ceramic Tile
  • Concrete
  • Laminate
  • Vinyl
  • Carpet

Foundation Details

  • Poured Concrete

Heating

  • Ductless
  • Wall Furnace

Power Production Type

  • Electric

Property Condition

  • Good

Roof

  • Composition

Sewer

  • Sewer Connected

Structure Type

  • Unspecified

WaterSource

  • Public
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Listed By:
Windermere RE San Juan Islands
Gregory King, 360-378-3600, greg@gregkingsanjuan.com

Co-Listed By:
Windermere RE San Juan Islands
Sybil Mager, 360-378-3600

Data Source: Northwest Multiple Listing Service

MLS#: 2591273

Data Source Copyright: © 2026 Northwest Multiple Listing Service All rights reserved.

© 2026 Provided by Northwest Multiple Listing Service

This property was listed on 11/9/2026 and last updated as of 11/9/2026 6:45:16 PM. OSI IDX updated the data from Northwest Multiple Listing Service on 11/9/2026 at 10:18 AM. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.