Multi-Tenant Shopping Center
1541 SE PIPERBERRY WAY, Port Orchard, WA 98366
For Sale
Contact for pricing
Acquire Bethel Center, a multi-tenant leased retail property serving Port Orchard with easy regional access.
Property Size8,750 SF
Price / SF$171.43
Days on Market151
Property Features for 1541 SE PIPERBERRY WAY
General Information
Standard status
Size
Property subtype
Occupancy
Investment Type
Building Details
Year Built
Stories
Tenancy
Listing Agency:
Kidder Mathews Seattle
Listed By:
Parker Ksidakis · License #WA 130245
(206) 292-6158
Source:
Crexi
Added: Jun 10
Changed: Oct 28
Last Checked: Nov 6 at 8:52AM
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 Kidder Mathews Seattle
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Bethel Center is a multi-tenant, leased retail investment offered for sale at 1541 SE Piperberry Way in Port Orchard, Washington. The property is positioned as a shopping center with storefront-style space totaling approximately 8,750 square feet. As a leased investment, it is set up for an ownership group looking to acquire income-producing retail real estate with multiple tenant occupancies in place.
Port Orchard is described as being easily accessible from Seattle and Tacoma, and functions as an access community for both areas. This places the asset in a regional travel corridor where convenience and connectivity can support retail demand.
For investors, the key takeaway is the multi-tenant structure combined with existing leases, which can offer diversification across tenant spaces within a single retail property. For retail operators evaluating space within a shopping center environment, the configuration can support a variety of storefront-based uses, with the advantage of being part of an established, occupied retail setting. Interested parties should review the lease details and tenant lineup as part of their diligence.
Port Orchard is described as being easily accessible from Seattle and Tacoma, and functions as an access community for both areas. This places the asset in a regional travel corridor where convenience and connectivity can support retail demand.
For investors, the key takeaway is the multi-tenant structure combined with existing leases, which can offer diversification across tenant spaces within a single retail property. For retail operators evaluating space within a shopping center environment, the configuration can support a variety of storefront-based uses, with the advantage of being part of an established, occupied retail setting. Interested parties should review the lease details and tenant lineup as part of their diligence.
Key Highlights
- Bethel Center is a multi‑tenant leased retail investment in Port Orchard, Washington
- Year built: 2005
- Port Orchard is easily accessible from Seattle and Tacoma
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$101,430
Cap Rate
6.76%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,028,600
$2.0M
Cap Rate 7%
$1,449,000
$1.4M
Cap Rate 9%
$1,127,000
$1.1M
Market Conditions
NOI Build-Up for 8,750 SF
Gross rent
$157.5K $18.00/SF
− Vacancy
−$12.6K −$1.44/SF
EGI
$144.9K $16.56/SF
− OpEx
−$43.5K −$4.97/SF
NOI
$101.4K $11.59/SF
Area
Kitsap County, WA
Vacancy
8.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,028,600
Cap Rate 7%
$1,449,000
Cap Rate 9%
$1,127,000
Alternative Uses
Best Use
Retail
$1.45M
$1.27M – $1.69M
NOI $101,430 @ 7.0% cap · market cap 6.76%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$2.92M
$2.55M – $3.40M
NOI $204,238 @ 7.0% cap · market cap 13.62%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
260
Businesses Nearby
155k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 43%
Shops & Services 27%
Dining 25%
Electronics 3%
Fred Meyer
Groceries
67,220 visits/mo
0.4 miles
Fred Meyer Gas Station
Shops & Services
25,578 visits/mo
0.3 miles
Dutch Bros. Coffee
Dining
18,969 visits/mo
0.5 miles
Starbucks
Dining
11,780 visits/mo
0.2 miles
Shell
Shops & Services
6,222 visits/mo
0.2 miles
Demographics for 98366, WA
36,969
Population
15,391
Households
2.4
Avg Household Size
39
Median Age
26%
College-Educated
94%
High-School Grad
23.4 sq mi
ZIP Area
1,580
Density / Sq Mi
$88,807
Median Household Income
$51,884
Median Earnings
$1,704
Median Rent
$449,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in West region
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- Bethel Centre — SE Piperberry Way, Port Orchard, WA 98366
Frequently Asked Questions
What type of property is this?
Shopping center - Acquire Bethel Center, a multi-tenant leased retail property serving Port Orchard with easy regional access.
Where is this shopping center located?
The property is located at 1541 SE PIPERBERRY WAY Port Orchard, WA.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: Bethel Center is a multi‑tenant leased retail investment in Port Orchard, Washington; Year built: 2005; Port Orchard is easily accessible from Seattle and Tacoma
