Prime Bremerton Land for
937 Callow Ave Bremerton, WA 98312
937 Callow Ave, Bremerton, WA, 98312
$1,450,000
For Sale
$1,450,000
1.38-acre lot near Puget Sound Naval Shipyard and ferry.
Property Size10,800 SF
Price / SF$134.26
Days on Market692
Property Features for 937 Callow Ave
General Information
- Standard status
- Active
- Size
- 10,800 SF
Building Details
- Year Built
- 1954
Listing Agency
KELLER WILLIAMS COMMERCIAL
Listed by
DANIEL WAKEFIELD
Source
Corcoran
Added: Aug 28, 2024 Updated: Mar 16 at 9:09 am Checked: Jul 20 at 4:11 am
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 KELLER WILLIAMS COMMERCIAL
Investment Insights
Based on property information with market context.
This 1.38-acre property, comprising three parcels, is zoned DCC - District Center Core, and is located in West Bremerton, two blocks from Kitsap Way at 11th and Callow, across from a major grocery anchor. Its location near the Puget Sound Naval Shipyard (PSNS) in Bremerton, with significant upcoming projects expected to bring substantial resources to the area, presents an opportunity for development. The property is less than a mile from the ferry terminal, offering accessibility for commuters and residents. The site is suitable for retail development, with potential for upper-level condominiums. The property has 10800 square feet of space.
Key Highlights
- Prime location adjacent to a major grocery anchor and near the Puget Sound Naval Shipyard (PSNS) with upcoming projects.
- DCC (District Center Core) zoning allows for retail development with potential for upper‑level condominiums.
- Large 1.38‑acre lot provides ample space for development.
Local 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 | $194.4k | $18.00 |
| − Vacancy | −$15.6k | −$1.44 |
| EGI | $178.8k | $16.56 |
| − OpEx | −$53.7k | −$4.97 |
| NOI | $125.2k | $11.59 |
10,800 SF · lease $18.00/SF/yr · vacancy 8.00% · expense 30.00%
Alternative Uses
Best Use
Retail
$1.79M
$1.56M – $2.09M
NOI $125,194 @ 7.0% cap · market cap 8.63%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$3.60M
$3.15M – $4.20M
NOI $252,088 @ 7.0% cap · market cap 17.39%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Commercial land
Similar For Sale Nearby
FAQs
What type of property is this?
Commercial land - 1.38-acre lot near Puget Sound Naval Shipyard and ferry.
Where is this commercial land located?
The property is located at 937 Callow Ave Bremerton, WA.
What is the asking price?
The asking price for this property is $1,450,000.
What are key features of this property?
This property features: Prime location adjacent to a major grocery anchor and near the Puget Sound Naval Shipyard (PSNS) with upcoming projects.; DCC (District Center Core) zoning allows for retail development with potential for upper‑level condominiums.; Large 1.38‑acre lot provides ample space for development.
