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107 S Main St

28,815 SF 100% Leased Office Building Coupeville, WA 98239 £5,164,170 (£179/SF) 6.50% Net Initial Yield

Investment Highlights

  • Long-term proven investment history
  • Situated on Main Street and Hwy 20
  • Diverse portfolio of medical, professional, retail, and office tenants

Executive Summary

Coupe’s Village is a well-established retail and office complex with a long-term proven investment history. The complex consists of 7 buildings with a wide range of suite sizes (120 SF – 2,728 SF +/-), to attract a diverse portfolio of tenants; many of the medical, professional, retail, and office users have occupied for the last 10+ years. Notable long-term tenants include Penn Cove Vet Clinic and Coupeville Dental, both of which recently expanded their premises, and Peoples Bank. Situated on Main Street and the primary arterial for Whidbey Island, Hwy 20, this site has easy access from the signalized intersection, good exposure, plus plenty of on-site parking. A well trafficked area, Whidbey Health Medical Center is located just on the other side of Hwy 20 and Coupeville Schools occupy the same stretch of Main Street. A unique base of knowledge is provided by the current owner who designed, built in phases from 2001-2005, and currently self-manages the entire development.

Property Facts

Sale Type
Investment NNN
Property Type
Office
Property Subtype
Medical
Building Size
28,815 SF
Building Class
B
Year Built
2001
Price
£5,164,170
Price Per SF
£179
Net Initial Yield
6.50%
NOI
£335,874
Percent Leased
100%
Tenancy
Multiple
Number of Floors
2
Typical Floor Size
14,408 SF
Building FAR
0.21
Land Acres
3.22 AC
Zoning
CP
Parking
165 Spaces (5.73 Spaces per 1,000 SF Leased)

Amenities

  • Banking
  • Restaurant
  • Air Conditioning
Bike Score ®
Very Bikeable (81)
What is a Walk Score®, Transit Score® & Bike Score®?
Walk Score® measures the walkability of any address.
Transit Score® measures access to public transit.
Bike Score® measures bikeability of a location.
What is a Walk Score®
, Transit Score® & Bike Score?
Walk Score® measures the walkability
of any address. Transit Score®
measures access to public transit. Bike Score®
measures bikeability of a location.®

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
R13233-020-4350
Land Assessment
£1,097,489
Improvements Assessment
£3,426,050
Total Assessment
£4,523,539
  • Listing ID: 33223519

  • Date on Market: 18/09/2024

  • Last Updated:

  • Address: 107 S Main St, Coupeville, WA 98239

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