Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    61-Acre Development Site in Poulsbo Title is generated by Realmo AI

    SR 3 & SR 305, Poulsbo, WA 98370

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

    Commercial development site at the intersection of Highway 305 and Highway 3.

    Type:Land
    Property size:
    61 SF
    Added:
    Nov 26, 2025
    Days on Market:
    174
    Last Refresh:
    Apr 5 at 9:12 pm

    Property Features for SR 3 & SR 305

    General Information

    Standard status
    Active
    Size
    61 SF
    Property subtype
    Land

    We can help!

    Listing Contact
    John Bauder, CCIM
    John Bauder, CCIM

    Listing agent John Bauder, CCIM

    Listing office LEE & ASSOCIATES COMMERCIAL REAL ESTATE SERVICES

    Listing date Nov 26, 2025

    Source Lee-associates

    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 LEE & ASSOCIATES COMMERCIAL REAL ESTATE SERVICES

    HighLights

    • 1.61‑acre development site with 34 commercially zoned parcels.
    • Strategically located at the intersection of Highway 305 and Highway 3 in Poulsbo, Washington.
    • High traffic location with combined average daily traffic exceeding 50,000 vehicles.
    • Zoned for Commercial, Business Park, and Multifamily use.
    • Pad‑ready parcels with grading, curbs, gutters, sidewalks, and utility stubs.
    • Flexible transaction structures available, including discounted parcel combinations and build‑to‑suit options.

    Overview

    College Marketplace is a 61-acre development site located at the intersection of Highway 305 and Highway 3 in Poulsbo, Washington. The site consists of 31 commercially zoned parcels. Average daily traffic exceeds 50,000 vehicles per day on these two highways. The development includes 18 parcels zoned Commercial, 11 parcels zoned Business Park, and 3 parcels zoned Multifamily. The City of Poulsbo is open to revising the Masters Plan’s Covenants, Conditions, and Restrictions. The parcels are pad-ready and have been graded with curbs, gutters, and sidewalks installed. Utilities are stubbed for connection. Stormwater retention ponds are in place throughout the development. The ownership is willing to explore various transaction structures to encourage new development, including selling a combination of parcels at a discounted price, selling individual parcels, or providing a buyer or tenant with a build-to-suit building on a sale or lease. Build-to-suit options include industrial spaces from 20,000 to 80,000 square feet, office and medical office spaces from 9,000 to 250,000 square feet, and retail spaces from 2,000 to 60,000 square feet.
    Location Intelligence

    Current Use by Public Records

    Commercial land

    Map

    City
    Poulsbo
    County
    Kitsap
    State
    Washington
    Longitude
    -122.623
    Latitude
    47.7571

    Nearby Similar for Sale

    • $1,500,000
      8,000 SF

      Functional Warehouse in Strategic Location

      8,000 SF warehouse on 0.78 acres in Poulsbo, WA.
      5805 Northeast Minder Road, Poulsbo, WA 98370
      View Details
    • $1,300,000
      8,000 SF

      Functional Warehouse in Strategic Location

      8,000 SF warehouse with easy access to major highways.
      5805 NE Minder Rd, Poulsbo, WA
      View Details
    • $4,180,000
      24,246 SF

      Scalable Warehouse Space Available

      High-functioning warehouse space suitable for e-commerce, distribution, or industrial teams.
      26287 12 Trees Ln NW, Poulsbo, WA
      View Details
    • $3,100,000
      903 SF

      Poulsbo Office Space Available

      903 SF office space near Hwy 305 and downtown.
      1040 NE Hostmark St, Poulsbo, WA
      View Details
    • $1,200,000
      575 SF

      Poulsbo Land Assemblage Opportunity

      Three parcels totaling 10.85 acres in Viking Avenue Corridor.
      20397 Northwest Cedar Lane, Poulsbo, WA 98370
      View Details
    • $1,370,000
      8,000 SF

      New Construction Warehouse and Office

      Under construction warehouse with office space and flexible design.
      26245 Pioneer NW, Poulsbo, WA
      View Details
    • $899,000
      4 SF

      Highway Visible Land For Sale

      Shovel-ready 4.1 acre commercial land visible from Highway 305.
      7th Ave NE, Poulsbo, WA 98370
      View Details
    • $3,679,076
      10,010 SF

      Retail Property in Poulsbo, WA

      Retail property with 10,010 square feet of space.
      20370 Viking Ave NW, Poulsbo, WA
      View Details
    • $2,200,000

      Poulsbo NNN Investment Opportunity

      Long-term NNN lease with rental increases in income tax-free state.
      20250 7th Ave NE, Poulsbo, WA 98370
      View Details
    • Contact for pricing
      54,450 SF

      Highway Corner Land For Sale

      Hard corner lot on main highway with multiple access points.
      18823 Hwy 305 NE, Poulsbo, WA
      View Details
    • $4,200,000
      10,400 SF

      Two Office Buildings For Sale

      Two office buildings totaling 18,662 SF on 0.94 acres.
      19660 10th Ave NE, Poulsbo, WA
      View Details
    • $899,000

      Vacant Land in Poulsbo, WA

      Vacant land suitable for development in Poulsbo, Washington.
      0 7th Ave NE, Poulsbo, WA
      View Details

    FAQs

    What type of property is this?
    Land - Commercial development site at the intersection of Highway 305 and Highway 3.
    Where is this land located?
    The property is located at SR 3 & SR 305 Poulsbo, WA.
    What are key features of this property?
    This property features: 1.61‑acre development site with 34 commercially zoned parcels.; Strategically located at the intersection of Highway 305 and Highway 3 in Poulsbo, Washington.; High traffic location with combined average daily traffic exceeding 50,000 vehicles.
    (253) 238-0043
    We can help!
    Listing Contact
    John Bauder, CCIM
    John Bauder, CCIM
    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
    SR 3 & SR 305, 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!