Well-Maintained Office Building with
For Sale
$1,300,000
1550 Woodridge Dr SE, Port Orchard, WA 98366
Two-story office building with flexible layout and detached garage.
Property Size3,840 SF
Price / SF$338.54
Days on Market442
Property Features for 1550 Woodridge Dr SE
General Information
Standard status
Active
Size
3,840 SF
Building Details
Year Built
1997
Listing Agency:
MARTIN REAL ESTATE GRP
Listed By:
TJ MARTIN
(360) 340-6786
Source:
Corcoran
Added: Aug 13, 2025
Changed: Mar 16
Last Checked: Mar 16 at 9:08AM
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 MARTIN REAL ESTATE GRP
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Investment Insights
Based on property information with market context.
This well-maintained, two-story office building is located in the Woodridge Professional Center, situated just off Mile Hill Drive. The property is positioned at the end of a quiet cul-de-sac, offering privacy and a peaceful setting complemented by a greenbelt to the rear. A large deck provides outdoor space suitable for breaks, meetings, or events. The interior features a functional layout, including a reception area, multiple private offices, a large open work area, a conference room, a full kitchen, and four bathrooms, one of which includes a shower. The layout provides flexibility for a variety of professional uses. Additional features include a security system and air conditioning. A detached 3-car garage/shop is also included, equipped with 240V power and internet. The property has a size of 3840 square feet.
Key Highlights
- Spacious office building in a private, peaceful setting with a greenbelt view.
- Functional layout featuring a reception area, private offices, open work area, conference room, full kitchen, and four bathrooms (including shower).
- Detached 3‑car garage/shop with 240V power and internet.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$54,743
Cap Rate
4.21%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,094,860
$1.1M
Cap Rate 7%
$782,043
$782.0K
Cap Rate 9%
$608,256
$608.3K
Market Conditions
NOI Build-Up for 3,840 SF
Gross rent
$82.9K $21.60/SF
− Vacancy
−$10.0K −$2.59/SF
EGI
$73.0K $19.01/SF
− OpEx
−$18.2K −$4.75/SF
NOI
$54.7K $14.26/SF
Area
Kitsap County, WA
Vacancy
12.00%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,094,860
Cap Rate 7%
$782,043
Cap Rate 9%
$608,256
Alternative Uses
Best Use
Office B
$782.0K
$684.3K – $912.4K
NOI $54,743 @ 7.0% cap · market cap 4.21%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.28M
$1.12M – $1.49M
NOI $89,631 @ 7.0% cap · market cap 6.89%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
72
Businesses Nearby
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Business Placement
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in West region
Frequently Asked Questions
What type of property is this?
Office building - Two-story office building with flexible layout and detached garage.
Where is this office building located?
The property is located at 1550 Woodridge Dr SE Port Orchard, WA.
What is the asking price?
The asking price for this property is $1,300,000.
What are key features of this property?
This property features: Spacious office building in a private, peaceful setting with a greenbelt view.; Functional layout featuring a reception area, private offices, open work area, conference room, full kitchen, and four bathrooms (including shower).; Detached 3‑car garage/shop with 240V power and internet.
