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+13604225200
LCR
269 Main Street, Orcas Island, WA 98245
- $2,850,000
Listing Broker: COMPASS; Wally Gudgell; 360-507-5443; wally@compass.com
- List Price
- $2,850,000
- Status
- ACTIVE
- MLS#
- 2576392
- Annual Tax Ammount
- 9243.84
- Internet Provider
- Rock Island: fiber
Property Description
Rare mixed-use investment opportunity in the heart of Eastsound Village on Orcas Island. Overlooking the Salish Sea, this exceptional Main Street property perfectly blends island living with multiple established income streams. Steps from the waterfront, premier restaurants, shops, and galleries, the building offers unbeatable village prominence. The second level features two beautifully furnished, water-view residential units: a spacious 2-bedroom, 2-bath residence and a 1-bedroom, 1-bath residence. Currently operating as highly rated vacation rentals, you can live in one and generate income from the other, or continue managing both as a premier hospitality business-- see Eastsound Suites web site. The ground level boasts two established, street-facing retail spaces in a high-traffic commercial zone, plus a rear office—all fully leased. Eco-friendly rooftop solar panels provide significant economic and environmental benefits. Additionally, a private 4,000 sq ft rear parking lot generates extra passive income from leased spaces. Do not miss this versatile blend of residential luxury, vacation rental flexibility, and rock-solid commercial income.
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Additional Information
- Community
- Eastsound
- Style
- 60 - Comm Bldg Und 10K
- Year Built
- 2005
- # of Assigned Spaces
- 11
- Roof
- Metal
- Tax Year
- 2025
- Potential Terms
- Cash, Conventional
- Flooring
- Ceramic Tile, Slate, Vinyl, Carpet
- Driving Directions
- BFI- LBW- From Ferry go to Eastound, take a right on Main St. Eastsound Suites will be on the left side of road before North Beach Rd.
- Appliance
- Tankless Water Heater
- Electric Expenses
- 1182
- Other Expenses
- 32999
- Energy Source
- Electric, Propane, Solar PV
- Net Operating Income
- $154,023
- Gross Adjusted Income
- $206,939
- Gross Scheduled Income
- $206,939
- Water/Sewer/Garbage Expenses
- $3,309
- Cap Rate
- 5
- Vacancy Rate
- 47
- Total Expenses
- $52,916
Based on information submitted to the MLS GRID as of . All data is obtained from various sources and may not have been verified by broker or MLS GRID. 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.IDX information is provided exclusively for consumers’ personal noncommercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.