Bought with ZNonMember-Office-MLS
For more information regarding the value of a property, please contact us for a free consultation.
Key Details
Sold Price $1,380,000
Property Type Commercial
Sub Type Commercial Industrial
Listing Status Sold
Purchase Type For Sale
Subdivision Keyport
MLS Listing ID 1808817
Sold Date 05/16/22
Style 73 - Office
Year Built 1984
Annual Tax Amount $19,830
Lot Size 0.400 Acres
Lot Dimensions 110 x 160
Property Sub-Type Commercial Industrial
Property Description
Rare commercial investment opportunity in the community of Keyport, located in Kitsap County near Poulsbo. Historically operated as an office building primarily servicing Navy contractors, the building has been continuously occupied with virtually no vacancies since it opened for business in 1984. Minimal maintenance and oversight required. Offering a 7.2% cap rate on current financials with rental upside and potential to achieve an 8.5% cap rate once market expectations are met. As a bonus, the building can be converted to multi-family units for future added value. Ideal 1031 replacement property or any investor needing to deploy capital and looking for a better return than the average multi-family market cap in the region.
Location
State WA
County Kitsap
Area 165 - Finn Hill
Interior
Interior Features Forced Air, Ceramic Tile, Concrete, Wall to Wall Carpet
Flooring Ceramic Tile, Concrete, Carpet
Fireplace false
Exterior
Exterior Feature Wood
Utilities Available Sewer Connected, Electric, Natural Gas Connected
Roof Type Torch Down
Building
Sewer Sewer Connected
Water Community
Others
Senior Community No
Acceptable Financing Cash Out, Conventional, Rehab Loan, See Remarks
Listing Terms Cash Out, Conventional, Rehab Loan, See Remarks
Read Less Info
Want to know what your home might be worth? Contact us for a FREE valuation!
Jorge Downie
Kelsey & Jorge Real Estate Team | Keller Williams Greater 360
jorge@kelseyandjorge.com +1(360) 620-2992Our team is ready to help you sell your home for the highest possible price ASAP
"Three Trees" icon indicates a listing provided courtesy of NWMLS.