Add Listing
    For Sale
    • 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

    2 Bree Dr Bremerton, WA 98312

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    Industrial land available for sale in McCormick Industrial Estate.

    Type:Commercial
    Added:
    Mar 6, 2023
    Days on Market:
    1144
    Last Refresh:
    Apr 5 at 9:24 pm

    Property Features for 2 Bree Dr

    General Information

    Standard status
    Active
    Property subtype
    Commercial

    Building Details

    Year Built
    2022

    We can help!

    Listing Contact
    GREG MILLERD

    Listing agent GREG MILLERD

    Listing office CUSHMAN & WAKEFIELD

    Listing date Mar 6, 2023

    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 CUSHMAN & WAKEFIELD

    Overview

    McCormick Industrial Estate Land

    The McCormick Industrial Estate offers buildings built to suit, presenting an opportunity for users to own their building. Delivery is estimated to be 15 months after the execution of the purchase agreement. Buildings are also available for lease. The property's tax identification number is 12230110121002.
    Location Intelligence

    Current Use by Public Records

    Industrial land

    Suggested Use

    Restaurant Spa & Massage Center Building Supply Big Box & Wholesale Store Auto Repair Shop Hotel & Motel Auto Parts Store Department Store Kitchen & Bath Showroom Food Market

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

    Location Insight

    • Map
    • Local Demand
    City
    Bremerton
    County
    Kitsap
    State
    Washington
    Longitude
    -122.75
    Latitude
    47.5039

    Nearby Similar for Sale

    • $5,950,000
      11,380 SF

      Downtown Bremerton Customizable Basement Space

      11,380 SF basement space in downtown Bremerton available for lease.
      400 Warren Ave, Bremerton, WA
      View Details
    • $649,000
      42,253 SF

      High-Visibility Commercial Land in Bremerton

      Prime commercial land in a high-traffic Bremerton location.
      901 N Callow Ave, Bremerton, WA
      View Details
    • $1,228,200
      9,188 SF

      Restaurant Building on Kitsap Way

      Near move-in-ready restaurant building with high visibility.
      4180 Kitsap Way, Bremerton, WA
      View Details
    • $1,500,000
      11,340 SF

      Bremerton Industrial/Warehouse Opportunity

      Versatile 11,340 SF building ideal for commercial and industrial use.
      111 Bruenn Ave, Bremerton, WA 98312
      View Details
    • $649,000

      High-Visibility Commercial Land Opportunity

      One acre commercial land near Safeway in West Bremerton.
      901 North Callow Avenue, Bremerton, WA 98312
      View Details
    • $649,000

      High-Visibility Commercial Land in Bremerton

      One acre commercial land with development potential in Bremerton, WA.
      901 N Callow Avenue, Bremerton, WA 98312
      View Details
    • $3,500,000

      Multifamily Development Site in Bremerton

      280-unit multifamily development site near Bremerton Ferry Terminal.
      601 Highland Ave, Bremerton, WA 98337
      View Details
    • $1,280,000
      6,224 SF

      Restaurant Building on Highway 303

      Stand-alone restaurant building with high visibility and development potential.
      5769 Hwy 303, Bremerton, WA
      View Details
    • $1,325,000
      6,000 SF

      Spacious Bremerton Apartments with Parking

      Well-maintained Bremerton apartments with value-add potential and covered parking.
      2001 11th St, Bremerton, WA 98337
      View Details
    • $95,000

      Level Lot in Bremerton

      Level lot with utilities, zoned for various commercial uses.
      110 Oyster Bay Avenue, Bremerton, WA 98312
      View Details
    • $285,000

      Port Orchard Vacant Land

      5+ acre vacant lot with utilities in Port Orchard.
      8985 Southwest Lake Flora Road, Bremerton, WA 98312
      View Details
    • $1,500,000
      11,340 SF

      Versatile Bremerton Industrial/Warehouse Opportunity

      11,340 SF property ideal for industrial, warehouse, distribution.
      111 Bruenn Ave, Bremerton, WA 98312
      View Details

    FAQs

    What type of property is this?
    Industrial land - Industrial land available for sale in McCormick Industrial Estate.
    Where is this industrial land located?
    The property is located at 2 Bree Dr Bremerton, WA.
    What are key features of this property?
    This property features: Opportunity to own your industrial building.; Buildings are built to suit your specific needs.; New construction (built in 2022).
    (206) 682-0666
    We can help!
    Listing Contact
    GREG MILLERD
    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!