Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    1353-1397 Olney Ave SE Port Orchard, WA

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Lease
    $18 SF/Yr

    Anchored shopping center in high-growth Seattle suburb.

    Type:RETAIL
    Property size:
    69,346 SF
    Lot size:
    8.24 Acres
    Added:
    Sep 27, 2022
    Days on Market:
    1284
    Last Refresh:
    Mar 29 at 9:35 pm

    Property Features for 1353-1397 Olney Ave SE

    General Information

    Standard status
    Active
    Size
    69,346 SF
    Lot size
    8.24 Acres
    Property subtype
    RETAIL

    Spaces For Lease

    at 1353-1397 Olney Ave SE Contact us

    We can help!

    Listing Contact
    Tim Weber

    Listing agent Tim Weber License #WA 26378

    Listing office Kidder Mathews

    Listing date Sep 27, 2022

    Source Moodyscre

    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 Kidder Mathews

    Overview

    Bi-Mart Anchored Shopping Center

    The Port Orchard Shopping Center offers an opportunity to acquire a Bi-Mart anchored shopping center. The property is located at the heart of a high-growth community outside Seattle. The shopping center has a Weighted Average Lease Term of 9.5 years, offering long-term investment stability. The tenant mix includes discount and e-commerce-proof businesses. Bi-Mart serves as an anchor tenant with brand recognition throughout the Pacific Northwest. Adjacent to the property are Tractor Supply and a top-performing Albertsons (NAPs), which contribute to customer traffic. The property size is 69346 square feet.
    Location Intelligence

    Current Use by Public Records

    Shopping centers

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Dental Office Spa & Massage Center Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

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

    Similar Places Nearby

    • Coinme at Coinstar - Bitcoin Kiosk — albertsons, 1434 olney ave se, port orchard, wa 98366
    • Coinstar Bitcoin ATM — albertsons, 1434 olney ave se, port orchard, wa 98366
    • Mile Hill Plaza — 1488 Olney St SE, Port Orchard, WA 98366
    • Coinstar Kiosk - Bitcoin ATM — 1434 Olney Ave Se Albertsons, Port Orchard, WA 98366
    • Town Square Port Orchard — 1700 Mile Hill Dr, Port Orchard, WA 98366

    Location Insight

    • Map
    • Local Demand
    City
    Port Orchard
    County
    Kitsap
    State
    Washington
    Longitude
    -122.608
    Latitude
    47.536

    Nearby Similar for Lease

    • Contact for pricing

      Flexible Commercial Building with Parking

      3,480 SF commercial building suitable for various business uses.
      4560 Mile Hill Dr, Port Orchard, WA 98366
      View Details
    • Contact for pricing

      Updated Office Space For Lease

      Updated office space with private entrance and independent HVAC.
      1140 Bethel Avenue, Port Orchard, WA 98366
      View Details
    • Contact for pricing

      Port Orchard Office Spaces Available

      Five office spaces available in well-located Port Orchard commercial building.
      3010 Bethel Rd SE, Port Orchard, WA 98366
      View Details
    • Contact for pricing

      Executive Office Suites For Lease

      Executive office suites available for lease with included utilities.
      813 Division St, Port Orchard, WA 98366
      View Details
    • Contact for pricing

      Professional Office Suite For Rent

      Second-floor office suite in high-visibility location, suitable for professionals.
      2497 Bethel Rd SE, Port Orchard, WA 98366
      View Details
    • Contact for pricing

      Port Orchard Office Space Available

      Office suite in central Port Orchard location with high visibility.
      2501 Mile Hill Dr, Port Orchard, WA 98366
      View Details
    • Contact for pricing

      Retail Space with Detached Garage

      Retail space featuring a detached garage ready for tenant improvements.
      3010 Bethel Rd SE, Port Orchard, WA 98366
      View Details
    • Contact for pricing

      Office Suite in Port Orchard

      Office suite with natural light available for rent.
      2501 Mile Hill Dr, Port Orchard, WA 98366
      View Details
    • Contact for pricing

      Retail Space in Port Orchard

      Retail space available at Tremont Place, Port Orchard.
      1382 Lund Ave, Port Orchard, WA 98366
      View Details
    • Contact for pricing

      Waterfront Retail and Office Space

      Retail space with upstairs offices and adjacent warehouse available.
      1343 Bay St, Port Orchard, WA 98366
      View Details
    • Contact for pricing

      Retail Space Near Fred Meyer

      1200 SF retail space shadow-anchored by Fred Meyer.
      1888 Sedgwick Rd, Port Orchard, WA 98366
      View Details
    • $57,972/mo

      Port Orchard Office Building For Lease

      31,336 SF office building in Port Orchard available for lease.
      1435 Olney Ave SE, Port Orchard, WA 98366
      View Details

    FAQs

    What type of property is this?
    Shopping center - Anchored shopping center in high-growth Seattle suburb.
    Where is this shopping center located?
    The property is located at 1353-1397 Olney Ave SE Port Orchard, WA.
    What is the lease rate?
    The lease rate is $18 SF/Yr.
    What are key features of this property?
    This property features: Bi‑Mart anchored shopping center in a high‑growth community outside Seattle.; Weighted Average Lease Term of 9.5 years provides long‑term investment stability.; Desirable mix of discount and e‑commerce‑proof tenants.
    (253) 722-1400
    We can help!
    Listing Contact
    Tim Weber
    Real Estate License ID: WA 26378
    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

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!