About this home

Positioned along one of Whidbey Island’s most iconic waterfront corridors, this rare mixed-use investment opportunity offers over 60 feet of coveted commercial frontage in the heart of historic Coupeville. The meticulously restored seven-unit property includes four street-level commercial spaces and three licensed short-term rental units, creating diversified income potential in a highly sought-after destination market. Nearly every unit captures sweeping views of Penn Cove, with front-row access to the island’s marine wildlife, boating activity, and vibrant waterfront atmosphere.Extensive capital improvements have already been completed, including new pilings, siding, and major system upgrades, allowing investors to step into a stabilized asset with strong operational history and immediate cash flow. Offered with two parcels, the property also presents future upside through expansion, redevelopment potential, or continued optimization of rental income. Located minutes from Fort Ebey, the Coupeville–Port Townsend ferry, and convenient routes to Seattle, Bellevue, and Everett, this is a rare opportunity to acquire a legacy waterfront asset in one of the Pacific Northwest’s most desirable tourism-driven markets.

Exterior features

Schools

Property details

Heating

Ductless, Wall Furnace

Cooling

Ductless

Flooring

Ceramic Tile, Laminate

View

City, Islands, Mountains, Sound, Territorial

Lot

Curbs, Paved, Sidewalk

Water source

Public

Sewer

Sewer Connected

Costs

Annual taxes

$10,415 (2026)

Location

Coupeville, WA 98239