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

    1215 Lawrence St, Unit 102 Port Townsend, WA 98368

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    Prime office space in the Nordland Building for sale.

    Property Features for 1215 Lawrence St

    General Information

    Standard status
    Active

    Building Details

    Year built
    2009

    We can help!

    Listing Contact
    Nicole Blasucci
    Source: Corcoran

    Listing Agency: COLDWELL BANKER BEST HOMES Listing Agent: Nicole Blasucci

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

    Learn more

    Overview

    Main Level Office Space

    Located on the main level of the Nordland Building, this office space features a large common area, a conference room with a kitchenette overlooking Lawrence Street, a private office at the rear of the building, and a large storage closet. A private bathroom is included for convenience. The property also offers a rear deck. The space is located in an elevator-building. It is suitable for physical therapy practices, law firms, or other professional businesses.
    Location Intelligence

    Current Use by Public Records

    Office Units

    Suggested Use

    Real Estate Agency Law Firm Restaurant Dental Office Spa & Massage Center Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness 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
    -122.7628363
    Latitude
    48.1162984

    Nearby Similar for Sale

    • $949,950
      5,450 SF

      Commercial Hangar with Office Space

      Commercial hangar with office, pilot's lounge, and mountain views.
      191 Airport Rd, Port Townsend, WA 98368
      View Details
    • $1,839,000
      12,547 SF

      High-Bay Industrial and Office Space

      12,547 SF industrial and office space near Port Townsend.
      231 Otto St, Port Townsend, WA 98368
      View Details
    • $1,159,000

      Industrial Warehouse in Port Townsend

      7500 SF warehouse with heavy power and new roof.
      211 Otto St, Port Townsend, WA 98368
      View Details
    • Contact for pricing

      Mixed-Use Condominium in Historic District

      Four-unit mixed-use property in Port Townsend's Fountain District.
      922 Washington St, Port Townsend, WA 98368
      View Details
    • Contact for pricing
      7,405 SF

      Prime Downtown Commercial Property

      Exceptional investment opportunity with retail space and development potential.
      625 Tyler St, Port Townsend, WA 98368
      View Details
    • Contact for pricing
      2,371 SF

      Port Townsend Vineyard Estate

      9-acre vineyard with residence, BnB, and production facility.
      1673 Woodland Dr, Port Townsend, WA 98368
      View Details
    • $999,950
      5,450 SF

      Port Townsend Hangar - $999,950

      Luxury Airport Hangar w/ Pilot's Lounge
      191 Airport Rd, Port Townsend, WA 98368
      View Details
    • $3,250,000

      Port Townsend Commercial Investment Opportunity

      Five buildings, 27,624 sqft, 2.4 acres, fully leased.
      205 Otto St, Port Townsend, WA 98368
      View Details
    • $2,100,000
      13,284 SF

      Historic Victorian Building in Downtown

      Victorian building with retail and office spaces in prime location.
      844 Water St, Port Townsend, WA 98368
      View Details
    • Contact for pricing
      728 SF

      Updated Manufactured Home with Yard

      Updated 2 bed, 1 bath manufactured home with modern amenities.
      545 Hendricks St, Port Townsend, WA 98368
      View Details
    • Contact for pricing

      Historic Building in Downtown Port

      Iconic building in historic downtown Port Townsend for sale.
      802 Washington St, Port Townsend, WA 98368
      View Details
    • Contact for pricing

      Historic Mixed-Use Building For Sale

      Downtown Port Townsend mixed-use building with retail and residential units.
      1020 Water St, Port Townsend, WA 98368
      View Details

    FAQs

    What type of property is this?
    Office units - Prime office space in the Nordland Building for sale.
    Where is this office units located?
    The property is located at 1215 Lawrence St, Unit 102 Port Townsend, WA.
    What are key features of this property?
    This property features: - Prime office space in the Nordland Building in a prime location.; - Includes a conference room with kitchenette overlooking Lawrence St.; - Features a private bathroom and rear deck.
    (360) 385-0836
    Request Owner's contact information
    1215 Lawrence St, Unit 102 Port Townsend, WA 98368
    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.
    1215 Lawrence St, Unit 102
    Port Townsend, WA 98368
    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
    1215 Lawrence St, Unit 102 Port Townsend, WA 98368
    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

    We can help!
    Listing Contact
    Nicole Blasucci
    (360) 385-0836
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!