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    625 Tyler St Port Townsend, WA 98368

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    For Sale
    $2,160,000

    Exceptional investment opportunity with retail space and development potential.

    Property size:
    7,405 SF
    Lot size:
    0.14 Acres

    Property Features for 625 Tyler St

    General Information

    Size
    7,405 SF
    Lot size
    0.14 Acres

    Source: COMPASS Agent Erich Bubbel

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Prime Downtown Commercial Property

    Located in the heart of downtown Port Townsend, WA, this commercial property at 625 Tyler St presents a significant investment opportunity. Originally constructed in 1940, the property underwent substantial renovations in 2000, including a seismic retrofit, updated plumbing and electrical systems, CAT 5 wiring, and new windows. Further enhancements were completed in 2025, featuring fresh paint, two 96% efficient propane furnaces, and new roofs and gutters. The property includes retail space, currently leased to a printery under a modified gross lease. The lease is new and spans 10 years, with an option for a 10-year extension, providing long-term stability. The property offers the potential for owner-occupancy, allowing a buyer to have the tenants vacate. Additionally, a studio apartment on the premises generates $700 per month in rental income. The retail space features high ceilings, exposed beams, ample storage, a roll-up bay door, multiple offices, and water views. A vacant parcel offers future development potential, enhancing the property’s value. The property size is 7405 square feet.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Retail space

    Suggested Use

    Realty agency Law Firm Restaurant Dental Office Hair Salon Spa & Massage Nail Salon Building Supply Clothing Store Daycare Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Port Townsend
    County
    Jefferson
    State
    Washington
    Longitude
    -122.760897
    Latitude
    48.1169151

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    FAQs

    What type of property is this?
    Retail space - Exceptional investment opportunity with retail space and development potential.
    Where is this retail space located?
    The property is located at 625 Tyler St Port Townsend, WA.
    What is the asking price?
    The asking price for this property is $2,160,000.
    What are key features of this property?
    This property features: - Prime downtown location in Port Townsend.; - New 10-year lease with a 10-year extension option with a thriving printery.; - Significant renovations including seismic retrofit, updated plumbing/electrical/CAT 5 wiring, new windows, new roofs, and efficient propane furnaces.
    (206) 399-3285
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    625 Tyler St Port Townsend, WA 98368
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    Port Townsend, WA 98368
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    Realmo Value Estimation

    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.

    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.

    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
    625 Tyler St Port Townsend, WA 98368
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