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105 1st St 9,282 SF 100% Leased Retail Building Langley, WA 98260 $2,600,000 ($280.11/SF) 6.67% Cap Rate
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
C
Year Built
1982
Price
$2,600,000
Price Per SF
$280.11
Cap Rate
6.67%
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
Property Taxes
| Parcel Number | R33034-139-3350 | Improvements Assessment | $1,413,529 |
| Land Assessment | $585,446 | Total Assessment | $1,998,975 |
Property Taxes
Parcel Number
R33034-139-3350
Land Assessment
$585,446
Improvements Assessment
$1,413,529
Total Assessment
$1,998,975
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105 1st St
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