849 Spring Street

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.