19660 10th Avenue NE Poulsbo, WA 98370
A 2007 two-story office building with a 12-car basement garage and flexible suite layout options.
- Added:
- Dec 10, 2021
- Days on Market:
- 1675
- Last Refresh:
- Jul 9 at 2:50 am
Property Features for 19660 10th Avenue NE
General Information
- Standard status
- Active
- Size
- 15,958 SF
- Property subtype
- Commercial
Building Details
- Year Built
- 2007
Listing office Johansson Clark Real Estate (541) 408-0067
Listing date Dec 10, 2021
Source Premierepropertygroup
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 Johansson Clark Real Estate
Investment Insights
Based on property information with market context.
In addition, there is a separate single-story building totaling 2,734 square feet, constructed in 1979. This structure could be remodeled or rebuilt to potentially add approximately 9,000 square feet.
The property has visibility from Highway 305 and is located approximately halfway between the Bainbridge and Kingston ferries. Several government employers are nearby, including Bangor Naval Base and Keyport Research Facility, with retail facilities and Old Town Poulsbo also close by.
Key Highlights
- 15,958 sq. ft. luxury office building built in 2007 with 2 floors of office space
- Flexible office layout: currently single‑tenant but could be demised into up to 4 separate suites
- 12‑car basement garage plus 54 uncovered parking spaces (66 total parking spaces)
Local Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $344.7k | $21.60 |
| − Vacancy | −$41.4k | −$2.59 |
| EGI | $303.3k | $19.01 |
| − OpEx | −$75.8k | −$4.75 |
| NOI | $227.5k | $14.26 |