Daniel Capital Investments LLC

09/16/2025

This is great news for those interested in Hospitality and Recreation based business in the San Juan Islands. Really interested to hear the Ports plans for its usage and or development.

Port of Friday Harbor to Acquire Historic Cannery

On Friday, September 12, the Port of Friday Harbor Commission approved the purchase of the historic JJ Theodore Cannery and the surrounding 2.12 acre parcel for $1.44 million. Located on Griffin Bay at the western edge of Jackson Beach, this impressive structure once operated as an independent salmon cannery. Built around 1950 by John Jackson, first as a smokehouse and later as a cannery. It was later sold to John J. Theodore in the 1970s. The facility was a major employer for islanders in summer, employing up to 100 workers during its heyday, many of whom worked the so-called “slime line” into the mid-1990s.

The building, with its generous square footage of over 20,000 square feet, had long been an acquisition target for the Port, after the cannery ceased operations. Port Director Todd Nicholson explained, “The stars seemed to align to make this happen now, with a willing seller approaching the Port at an attractive price.”
Nicholson also noted, “The building is in good condition, with a new galvanized roof and a solid foundation. It offers great potential to support the Port’s mission of economic development. Staff and the commission will seek public input on the best way to use the space.”

Public Notice and Procedure
In Washington state, port districts are generally not required to provide public notice when purchasing property. However, the sale or transfer of port property does require specific public notice and hearings.

Though the Port of Friday Harbor typically discusses items on the agenda before taking action, in this instance, the Port Commission acted quickly to secure the sales price and agreement, aiming to prevent interference from other interested parties.

Under Washington law (RCW 53.08), port districts have broad authority to acquire property through various means, including purchase and condemnation. Routine property acquisitions do not require a special public notice.
Future Development

It will be a while before the public is granted access to the property; zoning changes are needed, and safety concerns regarding aging dock structures need to be addressed.

Long-time port commissioner Barbara Marrett celebrated the purchase, stating, “We are thrilled to finally be acquiring The Cannery, a purchase with so much promise and one which had eluded the Port for decades.”

08/22/2025

Below is the sum of 3 AI models being fed historical sales data, current listings, the towns code, districting and zoning maps as well as current incomes. Here is what they all say about land values in downtown Friday Harbor:

1. Baseline Comparable (Comps at $2.95M)
• The comps establish a floor reference point for properties of similar type and location in Friday Harbor.
• $2.95M is therefore a reasonable “starting value” for a property in that segment.

2. Positive Differentiators of Vic’s Property
Relative to the $2.95M comps, the Vic’s property has:
• Larger lot/building size → Increases usable square footage and future income potential.
• Dedicated parking → Very scarce in Friday Harbor commercial district, especially for restaurant/hospitality use. Adds meaningful premium.
• Water views → Significant value driver for both commercial use (tourist draw) and future redevelopment potential.
• Utilities already in place → Reduces redevelopment costs and accelerates timelines. Lower friction for buyer.
Each of these features would generally add incremental value beyond the base comp.

3. Adjusting Relative Value
• Parking + utilities + views together could reasonably justify +15–25% premium over base comps in a small constrained market like Friday Harbor (where supply is limited and location quality has an outsized effect).
• That adjustment would place Vic’s property in the $3.4M–$3.7M range.

4. Relative to the List Price ($3.45M)
• At $3.45M, the property is positioned slightly above comps, but in line with its tangible advantages.
• It appears fairly priced rather than inflated — especially if the comps lack one or more of the location, parking, or view benefits.

✅ Conclusion:�Given the larger size, parking, water views, and existing utilities, the Vic’s property should reasonably trade at a premium of 15–25% above the $2.95M comps. That aligns with the $3.45M list price, which sits right in the middle of that range. In other words, it seems the list price is a defensible fair market value relative to the comps.

07/28/2025

After years of research and development we are excited to start rolling out our newest project designed to enhance the experience in SE Alaska for all Cruisers. Instead of offering warm water, Sandy beach, and endless coconut cocktails - we offer warmth, relaxation, security, concierge, trabsportation, tour bookings, food and beverage and more - all in the heart of your destination.
Camp Cabana and Port Cabana offer a completely new way to extend your stay in Port and make more of it!

Skagway Juneau Ketchikan Sitka

Reach out for more information. n

03/19/2025

Not much has changed, perhaps not even the boats themselves, until now.
Recent admissions by the County and Town that in order to comply with our States GMA 60% of development will need to occur within our UGA - the Town of Friday Harbor itself - presents some challenges

This will require rebuilding up in height and replacing non conforming infrastructure and utilities.

This is all good. Time to build

A Journey through the San Juans, a film by the Washington State Ferries, ca. 1940s. Take a look at early ferry travel to the islands, visiting attractions an...

09/19/2024

Downtown Friday Harbor.

Unlock the Potential of Downtown Living and Business!
Introducing a rare opportunity to transform a prime 6,000 sq. ft. commercial property located in the heart of the downtown core, within the historic district's transition zone. With a footprint of 50’ x 120’, this property boasts over 10,000 sq. ft. of development potential, offering the perfect canvas for a visionary developer.
Imagine a stunning three-story multi-use building that maximizes breathtaking views of the harbor, the serene islands, and majestic Mount Baker. From sunrise to sunset, the views will not only enhance the living experience but also attract businesses and residents seeking a vibrant urban lifestyle.
Key Features:
* Location: Centrally situated in the downtown core, this property is a stone's throw from shops, restaurants, and cultural attractions.
* Flexible Design: Ideal for a mixed-use development featuring:
* Penthouse Residential Condos (1-3 total): Capture the market for luxury living with panoramic views.
* Second Floor Studio and 1-Bedroom Rentals: Perfect for long-term tenants who value convenience and stunning surroundings.
* Ground Floor Commercial Space: Attract customers with prime retail or office space, with ample parking to serve all tenants and visitors.
* Parking Expansion: The existing space allows for increased parking, accommodating the needs of both residents and commercial clients.
This property is not just a building; it’s a gateway to a thriving community. Seize the chance to create a landmark that harmonizes residential comfort with commercial vibrancy.
Don’t miss out on this exceptional redevelopment opportunity. Contact us today to explore how you can bring this vision to life!

09/09/2024

Spent some time working with previous plans in conjunction with AI. Love the ability to decrease development costs by narrowing down what you really can do on any given property.

08/12/2024

It’s been about a Century or so but properties are beginning to become available within the downtown core for development. The attached specific listing is one block over and one block down from ours.
While its location and visibility is iconic - its development value (and lot size) are approximately 42% lower than our holdings. This is based on residential viability and the dynamite 270 degree views of Mountains, Islands, Harbors, both Sunrise and Sunset, and of course town itself.
Pricing are climbing.
Any lot in downtown is worth what’s being asked. They don’t get cheaper in the future and they don’t become more available.

Exciting and rare opportunity in the heart of downtown Friday Harbor. Great commercial location on a major corner lot with southern exposure providing all-day sun. The possibilities are many, includin

02/09/2023

https://vicsdrivein.com/