Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    High-Visibility Retail Space in Poulsbo Title is generated by Realmo AI

    21505 Market Pl NW, Poulsbo, WA 98370

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Modern retail space in a busy, established shopping center.

    Type:Retail
    Added:
    Sep 6, 2025
    Days on Market:
    249
    Last Refresh:
    Mar 17 at 1:16 pm

    Property Features for 21505 Market Pl NW

    General Information

    Standard status
    Active
    Property subtype
    Retail

    Building Details

    Year Built
    2005

    Spaces For Lease

    at 21505 Market Pl NW Contact us

    Available Space $35 /Mo

    Size
    1,500 SF
    Type
    Retail
    Can Be Combinedn $11.59 NNN/SF
    Contact us

    Available Space $35 /Mo

    Size
    1,301 SF
    Type
    Retail
    Can Be Combinedn $11.59 NNN/SF
    Contact us

    We can help!

    Listing Contact
    Alex Vlaski

    Listing agent Alex Vlaski License #WA

    Listing office JSH Properties Inc

    Listing date Sep 6, 2025

    Source Crexi

    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 JSH Properties Inc

    HighLights

    • Located in College Marketplace, a high‑traffic retail destination in Poulsbo.
    • Benefits from strong co‑tenancy, including a high‑performing Walmart Supercenter (Top 7% nationwide).
    • Excellent visibility within the retail strip.
    • Easy access from across Kitsap County via SR 305 and SR 3.
    • Benefits from an affluent and growing residential base.
    • Modern retail strip built in 2005.

    Overview

    This retail space is located within College Marketplace, a well-established retail destination in Poulsbo. The property benefits from high visibility and strong co-tenancy. A Walmart Supercenter, ranking in the top percentages nationwide and in Washington, serves as a topper, contributing to a steady flow of customers. Situated at the intersection of SR 305 and SR 3, the center offers accessibility from across Kitsap County and benefits from the area’s affluent and growing residential base.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Retail space

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Dental Office Spa & Massage Center Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Poulsbo
    County
    Kitsap
    State
    Washington
    Longitude
    -122.6598521
    Latitude
    47.7580225

    Nearby Similar for Lease

    • $21 SF/Yr

      Ground-Floor Office Space Available

      3,475 SF office space in Powder Hill Business Park.
      19265 Powder Hill Pl NE, Poulsbo, WA
      View Details
    • $20 SF/Yr

      Dental Office in Poulsbo Village

      Available dental office with five operatories in Poulsbo Village.
      19365 7th Ave NE, Poulsbo, WA
      View Details
    • $23 SF/Yr

      Equipped Medical Building For Lease

      Turnkey medical building with pharmacy, radiology, and lab.
      19379 7th Ave NE, Poulsbo, WA
      View Details
    • $25 SF/Yr

      Spacious Office Building with Views

      34,775 SF office building with flexible layouts and mountain views.
      1050 NE Hostmark St, Poulsbo, WA
      View Details
    • $24 SF/Yr

      Pad-Ready Flex/Industrial Building Available

      Permitted 18,000 SF flex/industrial building divisible to 2,650 SF.
      0 Quickstep Court NW, Poulsbo, WA
      View Details
    • $24 SF/Yr

      Turn Key Restaurant Opportunity

      Restaurant space with commercial kitchen and seating available for rent.
      19880 7th Ave NE, Poulsbo, WA
      View Details
    • $35 SF/Yr

      Retail Space in Poulsbo, WA

      Retail space available for lease in Poulsbo, Washington.
      21505 Market Pl NW, Poulsbo, WA
      View Details
    • $250 SF/Yr

      Flexible Coworking Space in Poulsbo

      Modern coworking space with flexible options and community atmosphere.
      19089 Jenson Way NE, Poulsbo, WA
      View Details
    • Contact for pricing

      New Flex Space in Poulsbo

      Modern flex space available in prime Poulsbo location.
      21795 Quickstep Ct NW, Poulsbo, WA 98370
      View Details
    • $32 SF/Yr

      High-Traffic Retail/Commercial Space Available

      Retail/commercial space with high visibility and traffic.
      19723 10th Ave NE, Poulsbo, WA
      View Details
    • Contact for pricing

      Poulsbo Office Space Available

      Office space available for lease in Poulsbo, Washington.
      19723-19735 10th Ave NE, Poulsbo, WA
      View Details
    • Contact for pricing

      Scalable Warehouse Space Available

      Warehouse space for logistics, distribution, and light industrial users.
      26287 12 Trees Ln NW, Poulsbo, WA 98370
      View Details

    FAQs

    What type of property is this?
    Retail space - Modern retail space in a busy, established shopping center.
    Where is this retail space located?
    The property is located at 21505 Market Pl NW Poulsbo, WA.
    What are key features of this property?
    This property features: Located in College Marketplace, a high‑traffic retail destination in Poulsbo.; Benefits from strong co‑tenancy, including a high‑performing Walmart Supercenter (Top 7% nationwide).; Excellent visibility within the retail strip.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Alex Vlaski
    Real Estate License ID: WA
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    21505 Market Pl NW, Poulsbo, WA 98370
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!