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

    2153 Bethel Ave Port Orchard, WA 98366

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $1,100,000

    Two-parcel property with income potential and stormwater retention vault.

    Type:Commercial
    Property size:
    1,718 SF
    Lot size:
    1.92 Acres
    Added:
    Jun 25, 2024
    Days on Market:
    665
    Last Refresh:
    Apr 5 at 9:03 pm

    Property Features for 2153 Bethel Ave

    General Information

    Standard status
    Active
    Size
    1,718 SF
    Lot size
    1.92 Acres
    Property subtype
    Commercial

    Building Details

    Year Built
    1968

    We can help!

    Listing Contact
    GARY ANDERSON

    Listing agent GARY ANDERSON License #WA 43562

    Listing office G ANDERSON GROUP LLC

    Listing date Jun 25, 2024

    Source Corcoran

    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

    Overview

    Port Orchard Development Opportunity

    This property features a near 2-acre site, consisting of two parcels, zoned CMU. It is located on a well-traveled roadway in Port Orchard. A stormwater retention vault has been installed on the premises. The property includes two structures. One structure is considered a tear-down. The other is an existing 1,718-square-foot building with 6 offices and 2 restrooms, ready for occupancy. This building could provide passive income while navigating development. The site plan is pending for multifamily or townhome development.
    Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Real Estate Agency Restaurant Law Firm Dental Office Spa & Massage Center Hair Salon Nail Salon Building Supply Gym & Fitness Center Skin Care Clinic

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

    Location Insight

    • Map
    • Local Demand
    City
    Port Orchard
    County
    Kitsap
    State
    Washington
    Longitude
    -122.631
    Latitude
    47.5288

    Nearby Similar for Sale

    • $599,000

      Port Orchard Office Condo Unit

      Office condo in Port Orchard medical corridor, ready for medical practice.
      1740 Pottery Avenue #300, Port Orchard, WA 98366
      View Details
    • $2,300,000
      10,171 SF

      South Kitsap Professional Office Building

      Professional office building in South Kitsap's medical corridor.
      1922 Pottery Ave, Port Orchard, WA 98366
      View Details
    • $2,300,000
      10,171 SF

      South Kitsap Medical/Professional Office Building

      Office building in South Kitsap's medical corridor, ideal for owner-user.
      1922 Pottery Avenue, Port Orchard, WA 98366
      View Details
    • $599,000
      1,696 SF

      Port Orchard Office Condo Unit

      Office condo in Port Orchard medical corridor, ready for medical practice.
      1740 Pottery Ave, Port Orchard, WA 98366
      View Details
    • $600,000
      1,068 SF

      Gorst Commercial Property with Redevelopment Potential

      Commercial property in Gorst with redevelopment and rental income potential.
      3955 W Frontage Rd, Port Orchard, WA
      View Details
    • $1,650,000
      4,618 SF

      Distinctive Commercial Landmark in Port Orchard

      Landmark building suitable for medical, retail, or educational purposes.
      1130 Bethel Avenue, Port Orchard, WA
      View Details
    • $350,000

      Port Orchard Commercial Land Parcel

      Vacant land in medical corridor, ready for development.
      1870 Pottery Avenue #C, Port Orchard, WA 98366
      View Details
    • $999,999
      3,840 SF

      Well-Maintained Office Building with Garage

      Two-story office building with flexible layout and detached garage/shop.
      1550 Woodridge Dr SE, Port Orchard, Port Orchard, WA 98366
      View Details
    • $600,000

      Port Orchard Light Industrial Land

      7.62 acres of light industrial land for sale.
      0 SW Sedgwick Rd, Port Orchard, WA
      View Details
    • $975,000

      Retail Opportunity in Port Orchard

      Retail space with potential for owner-operator.
      3985 Cherry St SE, Port Orchard, WA 98366
      View Details
    • $3,500,000
      18 SF

      Large Parcel in Opportunity Zone

      Large Port Orchard parcel for residential/commercial development in Opportunity Zone.
      2200 Bethel Avenue, Port Orchard, WA 98366
      View Details
    • $1,600,000

      Prime Commercial Land Opportunity

      Premier real estate in thriving business corridor with high visibility.
      1110 Bethel Avenue, Port Orchard, WA 98366
      View Details

    FAQs

    What type of property is this?
    Commercial land - Two-parcel property with income potential and stormwater retention vault.
    Where is this commercial land located?
    The property is located at 2153 Bethel Ave Port Orchard, WA.
    What is the asking price?
    The asking price for this property is $1,100,000.
    What are key features of this property?
    This property features: Multifamily/Townhome Site Plan Pending on a near 2‑acre property; CMU zoning offers flexible development options; High‑traffic location on a major Port Orchard roadway
    (360) 373-2343
    We can help!
    Listing Contact
    GARY ANDERSON
    Real Estate License ID: WA 43562
    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!