Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Downtown Port Angeles Office/Retail Space Title is generated by Realmo AI

    228 W 1st St Unit A, Port Angeles, WA 98362

    View on Map
    Claim this Listing
    For Lease
    $2,000/Mo $12 SF/Yr (calc)

    Building/Land - Port Angeles, WA

    Property size:
    1,980 SF
    Lot size:
    1.13 Acres
    Added:
    Sep 7, 2023
    Days on Market:
    977
    Last Refresh:
    May 10 at 2:06 pm

    Property Features for 228 W 1st St Unit A

    General Information

    Property type
    Commercial Lease
    Property subtype
    Other
    Zoning
    Commercial
    Parking features
    Off Street
    Security features
    Fire Alarm
    Interior features
    Fire Alarm, Sprinkler System
    Standard status
    Active
    APN
    063000003360
    Size
    1,980 SF
    Lot size
    1.13 Acres

    Taxes and HOA fees

    Tax Year
    2023
    Tax Annual Amount
    0

    Utilities

    Heating system
    Forced Air

    Building Details

    Year built
    1920
    Number of units
    1
    Flooring type
    Carpet
    Architectural style
    Other

    We can help!

    Listing Contact
    Jacob Wright

    Listing agent Jacob Wright License #23024363

    Listing office IDEAL Real Estate 109 E. 1st Street, Port Angeles, WA

    Listing date Sep 7, 2023

    MLS# 371265 Listing URL

    Copyright © 2026 Olympic Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Prime 1,980 sq ft office/retail space in downtown Port Angeles.
    • Unbeatable location in Armory Square Mall with maximum footfall and visibility.
    • Steps away from all city amenities.
    • Ample off‑street parking for clients and staff.
    • Open floor plan.
    • Large conference room for meetings.

    Overview

    Located in downtown Port Angeles at the Armory Square Mall, this 1,980 square foot office/retail space offers an open floor plan with a large conference room. The property benefits from its proximity to city amenities, ensuring foot traffic and visibility. Ample parking is available.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Sea Mar Port ... Dental Office Clallam Conservation District State Government Office Washington Drivers License Department Of Motor Vehicles Vocational Rehabilitation Social Service Agency Olympic Community Action ... Charitable Organization

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Port Angeles
    County
    Clallam
    State
    Washington
    Longitude
    -123.4367947
    Latitude
    48.1200024

    Nearby Similar for Lease

    • $1,250/Mo

      Port Angeles Retail or Office

      Commercial space in downtown Port Angeles near Black Ball Ferry.
      222 N Lincoln St #207, Port Angeles, WA 98362
      View Details
    • $1,000/Mo

      Downtown Port Angeles Retail/Office Space

      400 SF commercial space in high-visibility downtown location.
      222 N Lincoln St #107, Port Angeles, WA 98362
      View Details
    • $10 SF/Yr

      Retail Space Available For Lease

      Retail property available for lease with 44231 square feet.
      621 S Lincoln St, Port Angeles, WA
      View Details
    • Contact for pricing

      Retail Space Near Highway 101

      Retail space with high visibility and highway access near downtown.
      121 S Del Guzzi Dr, Port Angeles, WA
      View Details
    • $12 SF/Yr

      Port Angeles Retail Space Available

      8,800 SF retail space for lease in Port Angeles.
      1936 E 1st St, Port Angeles, WA
      View Details

    FAQs

    What type of property is this?
    Office units - Prime downtown Port Angeles office/retail space with ample parking.
    Where is this office units located?
    The property is located at 228 W 1st St Unit A Port Angeles, WA.
    What is the lease rate?
    The lease rate is $2,000 /Mo.
    What are key features of this property?
    This property features: Prime 1,980 sq ft office/retail space in downtown Port Angeles.; Unbeatable location in Armory Square Mall with maximum footfall and visibility.; Steps away from all city amenities.
    (206) 661-8467
    We can help!
    Listing Contact
    Jacob Wright
    Real Estate License ID: 23024363
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    228 W 1st St Unit A, Port Angeles, WA 98362
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!