Prime Retail Building in
1007 Scott Bremerton, WA
For Sale
Contact for pricing
7,902 SF building in prime retail area of Manette.
Property Size7,081 SF
Lot Size0.25 Acres
Price / SF$139.10
Days on Market683
Property Features for 1007 Scott
General Information
Standard status
Active
Size
7,081 SF
Lot size
0.25 Acres
Property subtype
OFFICE
Listing Agency:
JCM Property Management
(360) 620-5300
Listed By:
Jeff Coombe
(360) 620-5300
Source:
Moodyscre
Added: Sep 16, 2024
Changed: Jul 6
Last Checked: Jul 21 at 6:35AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of JCM Property Management
Investment Insights
Based on property information with market context.
This 7,902 square foot building is situated on a 10,890 square foot lot in the prime retail area of Manette, just off E 11th Street. The property is located blocks from the Manette Bridge, providing access to downtown Bremerton, including theaters, restaurants, upscale condos, the Puget Sound Naval Shipyard, and the Bremerton/Seattle Ferry terminal. The building features two large spaces, Unit A/B and Unit C, with entrances on Scott Avenue. These units are currently occupied by Manette Day Spa and Fox Hollow Collective, a cooperative of beauty and salon stations. The property has 100% occupancy with five tenants in six units. The lower units, D, E, and F, have entrances off Pitt Avenue and are currently occupied by a floral design business, a hair salon, and a counseling service. There are 15 on-site parking stalls, with additional street parking available. Approximately 3,860 square feet of contiguous space could be available for owner occupancy.
Key Highlights
- Prime retail location in Manette, near shops and restaurants on E 11th St.
- Close proximity to downtown Bremerton, including the Puget Sound Naval Shipyard and Bremerton/Seattle Ferry terminal.
- 100% occupancy with five tenants in six units, providing immediate income.
Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $127.5k | $18.00 |
| − Vacancy | −$10.2k | −$1.44 |
| EGI | $117.3k | $16.56 |
| − OpEx | −$35.2k | −$4.97 |
| NOI | $82.1k | $11.59 |
7,081 SF · lease $18.00/SF/yr · vacancy 8.00% · expense 30.00%
Alternative Uses
Best Use
Office B
$1.44M
$1.26M – $1.68M
NOI $100,947 @ 7.0% cap · market cap 10.25%
Second Best
Retail
$1.17M
$1.03M – $1.37M
NOI $82,083 @ 7.0% cap · market cap 8.33%
Theoretical Best
Specialty Retail
$2.36M
$2.07M – $2.75M
NOI $165,281 @ 7.0% cap · market cap 16.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Office building - 7,902 SF building in prime retail area of Manette.
Where is this office building located?
The property is located at 1007 Scott Bremerton, WA.
What is the asking price?
The asking price for this property is $985,000.
What are key features of this property?
This property features: Prime retail location in Manette, near shops and restaurants on E 11th St.; Close proximity to downtown Bremerton, including the Puget Sound Naval Shipyard and Bremerton/Seattle Ferry terminal.; 100% occupancy with five tenants in six units, providing immediate income.
