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2,146 SF (100) Professional Suite | Tremont Corridor

Floor

1

Size

2,146 SF

Type

OFFICE

Lease Type

NNN

Availability

AVAILABLE

Positioned in the heart of South Kitsap’s established medical and professional... corridor, this well-maintained 2008 office building offers a rare opportunity for both investors and owner-users seeking stability with upside. The property features an efficient operating structure supported by a modified gross lease format, simplifying occupancy costs and enhancing tenant retention. The building is elevator-served with both stair and elevator access to all levels, and offers a flexible suite mix ranging from smaller professional offices to larger contiguous spaces. A shared lobby environment and common area corridors provide access to suites, along with two generous-sized restrooms on the second floor serving multiple tenants. Suite 100 (2,146 SF) is located on the first floor and offered as warm shell space, ready for tenant improvement build-out. The suite is currently demised into two spaces of approximately 1,000 SF each, but can be leased as one contiguous unit with the addition of a connecting doorway. Each space is individually heated and equipped with air conditioning, allowing for flexible configuration and efficient control based on tenant needs. Available suites include Suite 100 (2,146 SF – currently demised into two suites of approximately 1,000 SF each, but can be leased as a single contiguous space), Suite 110 (1,055 SF), Suite 201D (484 SF), Suite 201E (408 SF), and Suite 202 (1,700 SF), allowing for a range of tenant sizes and uses. Ongoing leasing activity is contributing to stabilizing income, while remaining vacancy presents a clear value-add component. The property is also currently offered for sale and cross-listed, presenting a strong opportunity for an owner-user to occupy space while benefiting from in-place tenancy and future lease-up potential. Surrounded by a strong concentration of medical, dental, and professional service users, the location benefits from consistent demand drivers and convenient access to WA-16 and key South Kitsap arterials. On-site parking and a cohesive professional environment further support long-term tenancy and ease of use.

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1,055 SF (110) Professional Suite w/ Break Room | Tremont Corridor

Floor

1

Size

1,055 SF

Type

OFFICE

Lease Type

NNN

Availability

AVAILABLE

Positioned in the heart of South Kitsap’s established medical and professional... corridor, this well-maintained 2008 office building offers a rare opportunity for both investors and owner-users seeking stability with upside. The property features an efficient operating structure supported by a modified gross lease format, simplifying occupancy costs and enhancing tenant retention. The building is elevator-served with both stair and elevator access to all levels, and offers a flexible suite mix ranging from smaller professional offices to larger contiguous spaces. A shared lobby environment and common area corridors provide access to suites, along with two generous-sized restrooms on the second floor serving multiple tenants. Suite 110 (1,055 SF) is located on the first floor and offers a highly functional and well-designed layout. The suite includes an in-suite restroom, a large break room with kitchenette featuring a sink and dishwasher, and is well-lit with natural light through multiple windows. The space offers fluorescent lighting, ample electrical outlets throughout work areas, and a combination of open concept workspace with an enclosed main office. The generous floor plan allows for flexible use, and the suite benefits from convenient, direct access to the parking lot. Available suites include Suite 100 (2,146 SF – currently demised into two suites of approximately 1,000 SF each, but can be leased as a single contiguous space), Suite 110 (1,055 SF), Suite 201D (484 SF), Suite 201E (408 SF), and Suite 202 (1,700 SF)**, allowing for a range of tenant sizes and uses. Ongoing leasing activity is contributing to stabilizing income, while remaining vacancy presents a clear value-add component. The property is also currently offered for sale and cross-listed, presenting a strong opportunity for an owner-user to occupy space while benefiting from in-place tenancy and future lease-up potential. Surrounded by a strong concentration of medical, dental, and professional service users, the location benefits from consistent demand drivers and convenient access to WA-16 and key South Kitsap arterials. On-site parking and a cohesive professional environment further support long-term tenancy and ease of use.

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484 SF (201D) Professional Suite | Tremont Corridor

Floor

2

Size

484 SF

Type

OFFICE

Lease Type

NNN

Availability

AVAILABLE

Positioned in the heart of South Kitsap’s established medical and professional... corridor, this well-maintained 2008 office building offers a rare opportunity for both investors and owner-users seeking stability with upside. The property features an efficient operating structure supported by a modified gross lease format, simplifying occupancy costs and enhancing tenant retention. The building is elevator-served with both stair and elevator access to all levels, and offers a flexible suite mix ranging from smaller professional offices to larger contiguous spaces. A shared lobby environment and common area corridors provide access to suites, along with two generous-sized restrooms on the second floor serving multiple tenants. Suite 201D (484 SF) is well-suited for a small professional or satellite office and features elevator and stair access, shared access to two generous-sized restrooms in the hallway corridor, efficient canned lighting, windows providing natural light for a well-lit workspace, and carpeted flooring. Available suites include Suite 100 (2,146 SF – currently demised into two suites of approximately 1,000 SF each, but can be leased as a single contiguous space), Suite 110 (1,055 SF), Suite 201D (484 SF), Suite 201E (408 SF), and Suite 202 (1,700 SF), allowing for a range of tenant sizes and uses. Ongoing leasing activity is contributing to stabilizing income, while remaining vacancy presents a clear value-add component. The property is also currently offered for sale and cross-listed, presenting a strong opportunity for an owner-user to occupy space while benefiting from in-place tenancy and future lease-up potential. Surrounded by a strong concentration of medical, dental, and professional service users, the location benefits from consistent demand drivers and convenient access to WA-16 and key South Kitsap arterials. On-site parking and a cohesive professional environment further support long-term tenancy and ease of use.

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408 SF (201E) Professional Suite | Tremont Corridor

Floor

2

Size

408 SF

Type

OFFICE

Lease Type

MODIFIED_GROSS

Availability

AVAILABLE

Positioned in the heart of South Kitsap’s established medical and professional... corridor, this well-maintained 2008 office building offers a rare opportunity for both investors and owner-users seeking stability with upside. The property features an efficient operating structure supported by a modified gross lease format, simplifying occupancy costs and enhancing tenant retention. The building is elevator-served with both stair and elevator access to all levels, and offers a flexible suite mix ranging from smaller professional offices to larger contiguous spaces. A shared lobby environment and common area corridors provide access to suites, along with two generous-sized restrooms on the second floor serving multiple tenants. Suite 201E (408 SF) is well-suited for a small professional or satellite office and features elevator and stair access, shared access to two generous-sized restrooms in the hallway corridor, efficient canned lighting, windows providing natural light for a well-lit workspace, and carpeted flooring. Available suites within the building include Suite 100 (2,146 SF – currently demised into two suites of approximately 1,000 SF each, but can be leased as a single contiguous space), Suite 110 (1,055 SF), Suite 201D (484 SF), Suite 201E (408 SF), and Suite 202 (1,700 SF), allowing for a range of tenant sizes and uses. Ongoing leasing activity is contributing to stabilizing income, while remaining vacancy presents a clear value-add component. The property is also currently offered for sale and cross-listed, presenting a strong opportunity for an owner-user to occupy space while benefiting from in-place tenancy and future lease-up potential. Surrounded by a strong concentration of medical, dental, and professional service users, the location benefits from consistent demand drivers and convenient access to WA-16 and key South Kitsap arterials. On-site parking and a cohesive professional environment further support long-term tenancy and ease of use.

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1,700 SF (202) Professional Suite w/ Break Room | Tremont Corridor

Floor

2

Size

1,700 SF

Type

OFFICE

Lease Type

NNN

Availability

AVAILABLE

Suite 202 - The Pottery Building is positioned in the heart of South Kitsap’s established... medical and professional corridor, this well-maintained 2008 office building offers a strong leasing opportunity within a professionally managed, elevator-served environment. Suite 202 (1,700 SF) features elevator and stair access leading to a shared lobby area with other suites on the floor, along with two generous-sized common restrooms located in the hallway corridor. The suite offers a functional and efficient layout with a combination of canned and fluorescent lighting, carpeted flooring, and abundant natural light through multiple windows. The space includes an in-suite kitchen equipped with a dishwasher, sink, and refrigerator, as well as a wall-length work table with built-in cabinetry, multiple storage rooms, and two separate entry points allowing for flexible workflow or client access. The property features an efficient operating structure supported by a modified gross lease format, simplifying occupancy costs and enhancing tenant retention. Available suites within the building include Suite 100 (2,146 SF – currently demised into two suites of approximately 1,000 SF each, but can be leased as a single contiguous space), Suite 110 (1,055 SF), Suite 201D (484 SF), Suite 201E (408 SF), and Suite 202 (1,700 SF), offering flexibility for a range of professional, medical, and office users. This is also a prime opportunity for an owner-user, as the building is currently offered for sale and cross-listed, allowing a future buyer to occupy space while benefiting from in-place tenancy and continued lease-up potential. Surrounded by a strong concentration of medical, dental, and professional service users, the location benefits from consistent demand drivers and convenient access to WA-16 and key South Kitsap arterials. On-site parking and a cohesive professional environment further support long-term tenancy and ease of use.

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Listing Agency: KW Commercial Greater 360 Show Phone

Listed By: Joey Soller Show Phone

Source: Moodyscre

Added: Nov 24, 2025 Changed: Aug 9 Last Checked: Aug 22 at 6:41AM

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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 KW Commercial Greater 360

Investment Insights

Based on property information with market context.

Located in the Tremont Medical district, this property offers office space for rent. The property provides approximately 6,000 square feet of space. A purchase option may be available.

Key Highlights

• Great Location
• Tremont Medical District
• Possible Purchase Option

Financial Insights

Estimated NOI and Cap Rate

NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).

NOI / Yr

$106,850

Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.

Cap Rate

4.65%

Suggested Prices Based on Cap Rates Cap rates vary significantly by property type, market, and asset quality. Typical U.S. stable-market ranges: Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+) Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand) Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically) Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher) Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk) Self-Storage — 5.5% to 7.5% Medical Office — 6.0% to 7.5% Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term Rules of thumb: Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%). Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C. Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI. Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.

Cap Rate 5%

$2,137,000 $2.1M

Cap Rate 7%

$1,526,429 $1.5M

Cap Rate 9%

$1,187,222 $1.2M

Market Conditions

NOI Build-Up for 6,000 SF 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.

Gross rent

$196.6K $32.76/SF

− Vacancy

−$18.5K −$3.08/SF

EGI

$178.1K $29.68/SF

− OpEx

−$71.2K −$11.87/SF

NOI

$106.9K $17.81/SF

Area

Kitsap County, WA

Vacancy

9.40%

Lease Rate

$32.76 /SF/Yr

Expense Ratio

40.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates Cap rates vary significantly by property type, market, and asset quality. Typical U.S. stable-market ranges: Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+) Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand) Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically) Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher) Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk) Self-Storage — 5.5% to 7.5% Medical Office — 6.0% to 7.5% Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term Rules of thumb: Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%). Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C. Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI. Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.

Cap Rate 5%

$2,137,000

Cap Rate 7%

$1,526,429

Cap Rate 9%

$1,187,222

Alternative Uses

Best Use

Healthcare Medical

$1.53M

$1.34M – $1.78M (±1% cap)

NOI $106,850 @ 7.0% cap · market cap 4.65%

Second Best

Office B

$1.22M

$1.07M – $1.43M (±1% cap)

NOI $85,536 @ 7.0% cap · market cap 3.72%

Theoretical Best

Specialty Retail

$2.00M

$1.75M – $2.33M (±1% cap)

NOI $140,049 @ 7.0% cap · market cap 6.09%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Animal Intelligence Software (Bike/Boat/Book/etc) Store Galalee Software Solutions (Bike/Boat/Book/etc) Store Panther Professional Editing ... Professional Organizer Sunray Treatment and Recovery Medical Clinic Investor Resources Inc. Financial Advisor

Suggested Use

Top Pick Nail Salon HVAC Service Hair Salon Kitchen & Bath Showroom Bakery Grocery & Convenience Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

540

Businesses Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Market

Vacancy Rate% for Office in West region

11% 2019

14.1% 2020

15.5% 2021

17.2% 2022

19.9% 2023

21% 2024

20.8% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this medical office space located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Medical Office Space - Office space for rent in Tremont Medical District.

Where is this medical office space located?

The property is located at 1922 Pottery Ave Port Orchard, WA.

What is the asking price?

The asking price for this property is $2,300,000.

What are key features of this property?

This property features: Great Location; Tremont Medical District; Possible Purchase Option