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.
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0BEDS
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0.4ACRES
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0BATHS
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01/2 BATHS
School Ratings & Info
Listing Courtesy of Urban Commercial Partners, Llc.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.
The listing data relating to real estate for sale on this web site comes in part from the Northwest Multiple Listing Service. Real estate listings held by brokerage firms other than Shane Family Realty | Keller Williams Tri-Cities are marked by the "three tree" symbol; detailed information about such listings includes the names of the listing brokers. Data last updated 2022-05-22T16:15:45.077.