Well-Maintained Office Building with
1550 Woodridge Dr SE Port Orchard, WA 98366
For Sale
$1,300,000
Two-story office building with flexible layout and detached garage.
Property Size3,840 SF
Price / SF$338.54
Days on Market352
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
(360) 876-7600
Listed By:
TJ MARTIN
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
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 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 | $82.9k | $21.60 |
| − Vacancy | −$10.0k | −$2.59 |
| EGI | $73.0k | $19.01 |
| − OpEx | −$18.2k | −$4.75 |
| NOI | $54.7k | $14.26 |
3,840 SF · lease $21.60/SF/yr · vacancy 12.00% · expense 25.00%
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.
Property Analytics
Property Profile
Location Intelligence
Current Use
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.
