Port Orchard Pristine Office
For Sale
$1,550,000
Pending
2465 Bethel Ave, Port Orchard, WA 98366
High-quality, fully leased office building with significant upside potential.
Property SizeContact for details
Days on Market713
Property Features for 2465 Bethel Ave
General Information
Standard status
Pending
Property subtype
Commercial
Building Details
Year Built
2005
Listing Agency:
G. ANDERSON GROUP, LLC
(360) 373-2343
Listed By:
GARY ANDERSON · License #24306
Source:
Corcoran
Added: Aug 27, 2024
Changed: Aug 8
Last Checked: May 10 at 8:32PM
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 G. ANDERSON GROUP, LLC
Investment Insights
Based on property information with market context.
A pristine office building in Port Orchard, first time on the market since its construction in 2005, is 100% leased and features an abundance of parking. The property is equipped with a sprinkler system and is highly visible on one of the busiest roads in Port Orchard. There is no deferred maintenance required. Shared conference room and men's/women's bathrooms are available on each floor, with parking access on both sides of the building. Currently, each tenant is in the midst of short-term, Full-Service Gross Leases, which enables a new owner a large upside in converting the Leases to NNN and locking in longer terms, yielding a Pro Forma CAP of 8.4%. The estimated replacement cost for a building of this stature would be more than double the listed asking price.
Key Highlights
- 100% Leased with Short‑Term Leases: Immediate income with potential to increase revenue.
- Significant Upside Potential: Pro Forma CAP rate of 8.4% achievable.
- Replacement Cost Exceeds Asking Price: Strong value, replacement cost is more than double the listed price.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
825
Businesses Nearby
Explore this area
Business Placement
Demographics for 98366, WA
36,969
Population
15,391
Households
2.4
Avg Household Size
39
Median Age
26%
College-Educated
94%
High-School Grad
23.4 sq mi
ZIP Area
1,580
Density / Sq Mi
$88,807
Median Household Income
$51,884
Median Earnings
$1,704
Median Rent
$449,700
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - High-quality, fully leased office building with significant upside potential.
Where is this office building located?
The property is located at 2465 Bethel Ave Port Orchard, WA.
What is the asking price?
The asking price for this property is $1,550,000.
What are key features of this property?
This property features: 100% Leased with Short‑Term Leases: Immediate income with potential to increase revenue.; Significant Upside Potential: Pro Forma CAP rate of 8.4% achievable.; Replacement Cost Exceeds Asking Price: Strong value, replacement cost is more than double the listed price.
