Class A Office Condo
19500 10th Ave NE Poulsbo, WA 98370
19500 10th Ave NE, Poulsbo, WA, 98370
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For Sale
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Fully leased office suite in a Class A building, offered as a fee-simple condo with NNN tenant obligations.
Property Size1,248 SF
Price / SF$600.92
Days on Market43
Property Features for 19500 10th Ave NE
General Information
- Standard status
- Active
- Size
- 1,248 SF
- Property subtype
- Office
Building Details
- Year Built
- 2007
Listing agency
Hunter Investments
Listed by
Andrew Hunter · License #WA 21037202
Source
Crexi
Added: Jun 9 Updated: Jul 20 at 8:32PM Checked: Jul 20 at 8:32PM
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 Hunter Investments
Investment Insights
Based on property information with market context.
Fernwood Building presents a fee-simple office condo investment featuring Suite 270. The 1,248 SF suite is fully leased to Peninsula Counseling Center on a triple-net (NNN) lease through May 31, 2031. Under the NNN structure, the tenant covers taxes, insurance, and HOA dues, and the lease includes 3.5% annual rent escalations.
Built in 2007, Fernwood Building is a professionally designed Class A property with elevator service and secured parking, and it is positioned in Poulsbo’s established commercial corridor just off Highway 305. The location offers convenient regional connectivity minutes from Highway 3 and Town & Country Market, within the broader Seattle-Puget Sound access routes.
Built in 2007, Fernwood Building is a professionally designed Class A property with elevator service and secured parking, and it is positioned in Poulsbo’s established commercial corridor just off Highway 305. The location offers convenient regional connectivity minutes from Highway 3 and Town & Country Market, within the broader Seattle-Puget Sound access routes.
Key Highlights
- 1,248 SF fee‑simple office condo, built in 2007, in the Fernwood Class A office building
- Suite 270 is fully leased to Peninsula Counseling Center through May 31, 2031
- NNN lease structure: tenant covers taxes, insurance, and HOA dues
Local Financial Insights For Healthcare Medical
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 | $40.9k | $32.76 |
| − Vacancy | −$3.8k | −$3.08 |
| EGI | $37.0k | $29.68 |
| − OpEx | −$14.8k | −$11.87 |
| NOI | $22.2k | $17.81 |
1,248 SF · lease $32.76/SF/yr · vacancy 9.40% · expense 40.00%
Alternative Uses
Best Use
Healthcare Medical
$317.5K
$277.8K – $370.4K
NOI $22,225 @ 7.0% cap · market cap 2.96%
Second Best
Office B
$254.2K
$222.4K – $296.5K
NOI $17,791 @ 7.0% cap · market cap 2.37%
Theoretical Best
Specialty Retail
$416.1K
$364.1K – $485.5K
NOI $29,130 @ 7.0% cap · market cap 3.88%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Office Units
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FAQs
What type of property is this?
Office units - Fully leased office suite in a Class A building, offered as a fee-simple condo with NNN tenant obligations.
Where is this office units located?
The property is located at 19500 10th Ave NE Poulsbo, WA.
What is the asking price?
The asking price for this property is $749,950.
What are key features of this property?
This property features: 1,248 SF fee‑simple office condo, built in 2007, in the Fernwood Class A office building; Suite 270 is fully leased to Peninsula Counseling Center through May 31, 2031; NNN lease structure: tenant covers taxes, insurance, and HOA dues
