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.
Property Type(s):
Commercial
|
Last Updated
|
6/22/2026
|
Tract
|
Town
|
|
Year Built
|
1993
|
Community
|
Town
|
|
County
|
San Juan
|
Additional Details
| AIR |
Ductless |
| AIR CONDITIONING |
Yes |
| AREA |
900 - San Juan Island |
| CONSTRUCTION |
Wood Siding |
| HEAT |
Ductless , Electric, Wall Furnace |
| LOT |
1.6957 acre(s) |
| LOT DESCRIPTION |
Level, Sloped |
| MLS STATUS |
Active |
| STYLE |
61 - Comm Bldg Ovr 10K |
| SUBDIVISION |
Town |
| TAXES |
13470 |
| UTILITIES |
Sewer Connected |
| WATER |
Public |
| ZONING |
Commercial |
Location
Properties with the 
icon are courtesy of Northwest MLS.
Listings courtesy of Northwest MLS as distributed by MLS GRID. Based on information submitted to the MLS GRID as of 6/23/26 10:41 PM PDT. All data is obtained from various sources and may not have been verified by broker or MLS GRID. IDX information is provided exclusively for consumers’ personal noncommercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. 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.
DMCA Notice
This IDX solution is (c) Diverse Solutions 2026.
Request More Info
Schedule a Showing
Share
Print
Twitter
Facebook
Email