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101-107 S 1st St 5,911 SF 100% Leased Retail Building La Conner, WA 98257 $1,795,000 ($303.67/SF) 4.78% Cap Rate
INVESTMENT HIGHLIGHTS
- Strategically Located on the Most Prominent Corner in La Conner
- Condo-Quality Apartment on Second Floor
- Commercial Zoning Allows most Retail and Office Uses
- Attractive Building Design with Charming Courtyard
- Potential To Convert Apartment to Air BnB for Greater Income
- 2 Commercial Tenants on Main Floor
EXECUTIVE SUMMARY
Charming 2-story mixed-use property strategically located on the doorsteps of the Swinomish Channel. Unique layout with courtyard includes 2 commercial units (2,838 SF & 1,397 SF) on the main floor and 1 condo-quality apartment apartment (1,676 SF) on the upper floor with territorial views of this historic town. Remodeled upscale apartment boasts formal living & dining rooms, kitchen island, stainless steel appliances, 2 bedrooms, 2 3/4 baths, stacked washer/dryer and deck providing the potential to convert use to Air BnB for greater income. Seller vacating larger commercial space (Step Outside) which creates flexibility for Buyer. Adjacent commercial Tenant (Erth Eco-Ethos) provides stable income until March 31, 2029. Zoning allows for a variety of uses including retail, office, lodging restaurant/pub, child care, trade schools.
FINANCIAL SUMMARY (ACTUAL - 2025) Click Here to Access |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
FINANCIAL SUMMARY (ACTUAL - 2025) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Property Subtype
Building Size
5,911 SF
Building Class
B
Year Built
1979
Price
$1,795,000
Price Per SF
$303.67
Cap Rate
4.78%
NOI
$85,836
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Building FAR
0.97
Lot Size
0.14 AC
Zoning
Commercial - Commercial (Historic Preservation District Overlay Zone)
MAJOR TENANTS Click Here to Access
- TENANT
- INDUSTRY
- SF OCCUPIED
- RENT/SF
- LEASE TYPE
- LEASE END
- ERTH
- Retailer
-
99,999 SF
- -
-
Lorem Ipsum
-
Jan 0000
| TENANT | INDUSTRY | SF OCCUPIED | RENT/SF | LEASE TYPE | LEASE END | |
| ERTH | Retailer | 99,999 SF | - | Lorem Ipsum | Jan 0000 |
PROPERTY TAXES
| Parcel Number | P74115 | Total Assessment | $1,144,600 |
| Land Assessment | $506,000 | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $638,600 | Tax Year | 2025 |
PROPERTY TAXES
Parcel Number
P74115
Land Assessment
$506,000
Improvements Assessment
$638,600
Total Assessment
$1,144,600
Annual Taxes
($1) ($0.00/SF)
Tax Year
2025
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101-107 S 1st St
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