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Steve Miller Sells Island Compound for Less Than Half the Original Asking Price

Rocker Steve Miller‘s remarkable retreat in Washington’s San Juan Islands finally sold for $8.5 million. The property was originally listed for $20 million in 2014.

The most recent list price on the 39-acre compound was $9.95 million, and the sale closed in mid-May for about $1.5 million less.

For comparison, Oprah Winfrey paid only $8 million for her 43-acre estate on nearby Orcas Island, so Miller made out OK even though the sale price was a massive reduction.

“It is difficult to really know about the price,” said Tere Foster of Compass, who represented the buyer. “There are very few sales that occur in the San Juan Islands above $7 million. However, the compound did cost more to construct than the purchase price.”

The compound is ideal for your average music mogul or tech titan who wants to get away from it all. Blasted out of rock, the 11,000-square-foot main residence has off-grid capabilities for up to a year.

“The buyer is a former tech executive who was especially drawn to the property’s private 410-foot, deep-water dock, the only one of its magnitude within the San Juan Islands,” according to the listing agents, Dan Gottesman and Sam Chapin of Engel & Völkers Seattle.

The acreage includes hiking trails and views of Friday Harbor, Zen gardens, a Japanese-style teahouse, and a horse pasture.

The property also comes with 300 feet of water frontage, and the deep-water dock can accommodate three yachts.

The main house has three bedrooms and four baths. The basement is currently set up as a recording studio, which could easily be transformed into additional bedrooms or offices. But who’d want to mess with a Rock & Roll Hall of Famer’s studio?

In addition to the main house, there are eight other structures on the property, including a barn, shop, greenhouse, and caretaker’s accommodations.

“It’s one of the most beautiful properties I’ve ever seen,” says Gottesman. “The woodwork alone, handcrafted by local artisans, is a whole ‘nother level.”

Foster agrees: “The home is beautifully constructed,” she says. “All the woodwork and casement is furniture-quality throughout.”

The home is “less than 2 miles from town, wonderfully private on 36 acres with that 300 feet of waterfront,” she adds.

Perhaps the sale of Miller’s San Juan Islands retreat bodes well for his similar retreat in Ketchum, ID, which has been listed for $16 million since 2017. Its 13 acres include an 8,000-square-foot home, three guest cottages, a 1,600-square-foot art barn, a 4,000-square-foot recording studio, and a 2,700-square-foot archive building.

Miller’s Steve Miller Band is heading out on a national concert tour in mid-June. Fans will be able to relive the glory of smash hits such as “Fly Like an Eagle,” “Take the Money and Run,” and “The Joker.”

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