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105 1st St 9,282 SF 100% Leased Retail Building Langley, WA 98260 $2,495,000 ($268.80/SF) 6.95% Cap Rate

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Executive Summary

A rare opportunity to own a landmark building in the heart of downtown Langley! This recently updated commercial property is home to three strong tenants and offers nearly a 7% cap rate. Two tenants are secured with brand-new, long-term NNN leases, while the third is on a flexible month-to-month lease—ideal for investors or potential owner-operators. Major recent upgrades include fresh exterior paint, a new fire suppression system, sprinklers, and a modernized lobby with elevator access. The property also boasts 12 dedicated parking spaces, plus convenient street parking. A rock-solid investment in a premium location—don’t miss your chance to own this standout downtown asset!

Property Facts

Sale Type

Investment

Property Type

Retail

Property Subtype

Storefront Retail/Residential

Building Size

9,282 SF

Building Class

Year Built

1982

Price

$2,495,000

Price Per SF

$268.80

Cap Rate

6.95%

NOI

$173,443

Percent Leased

100%

Tenancy

Multiple

Building Height

2 Stories

Building FAR

0.67

Lot Size

0.32 AC

Zoning

LG - Central Business District

Parking

12 Spaces (1.29 Spaces per 1,000 SF Leased)

Frontage

117’ on 1st Street

Major Tenants

Fine Balance Imaging Studios
Manufacturing
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Finance and Insurance
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Heritage Financial Corporation, headquartered in Olympia, Washington, is the holding company of Heritage Bank. Heritage Bank is a Washington state-chartered full-service commercial bank providing financial solutions to small and medium-sized businesses in Washington, Oregon, and Idaho. Since 2010, Heritage has completed the acquisitions of Premier Commercial Bank, Puget Sound Bank, Whidbey Island Bank, Cowlitz Bank, Pierce Commercial Bank, Northwest Commercial Bank, and Valley Bank. Heritage Financial Corporation's stock is traded on the NASDAQ Global Select Market under the symbol HFWA.

S&P1, LLC
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Saratoga Enterprises Inc
Retailer
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Tenant	Industry	SF Occupied	Rent/SF	Lease End
Fine Balance Imaging Studios	Manufacturing	-	-	-
	Finance and Insurance	-	-	-
S&P1, LLC	-	-	-	-
Saratoga Enterprises Inc	Retailer	-	-	-