Six-Unit Shopping
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4545 Auto Center Way, Bremerton, WA 98312
Two-building retail property with all units occupied by long-term tenants and professional management in place.
Property Size19,920 SF
Price / SF$140.56
Days on Market3
Property Features for 4545 Auto Center Way
General Information
Standard status
Active
Size
19,920 SF
Property subtype
RETAIL
Occupancy
100%
Building Details
Buildings
2
Tenancy
Multi
Listing Agency:
Reid Property Management, LLC
(360) 698-4026
Listed By:
Matt Berg
(360) 509-3141
Source:
Moodyscre
Added: Sep 1
Changed: Sep 2
Last Checked: Sep 2 at 2:12PM
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 Reid Property Management, LLC
Investment Insights
Based on property information with market context.
Paulson Center is a retail property comprising two buildings with a combined 19,920 sq. ft. of space across six units. All units are occupied by long-term tenants, and the property is professionally managed by Reid Property Management and Matt Berg.
The property is located at 4545 Auto Center Way in Bremerton, with street presence along Auto Center Way and visibility from HWY 3. The surrounding area includes automotive dealerships, shopping, dining, parks, and major commuter routes, with highway access nearby. The site’s six-unit configuration provides an established multi-tenant retail format within a two-building layout.
The property is located at 4545 Auto Center Way in Bremerton, with street presence along Auto Center Way and visibility from HWY 3. The surrounding area includes automotive dealerships, shopping, dining, parks, and major commuter routes, with highway access nearby. The site’s six-unit configuration provides an established multi-tenant retail format within a two-building layout.
Key Highlights
- 19,920 sq. ft. of retail space across two buildings
- Six retail units, fully occupied by long‑term tenants
- Street presence on Auto Center Way in Bremerton
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
$230,913
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
8.25%
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%
$4,618,260
$4.6M
Cap Rate 7%
$3,298,757
$3.3M
Cap Rate 9%
$2,565,700
$2.6M
Market Conditions
NOI Build-Up for 19,920 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
$358.6K $18.00/SF
− Vacancy
−$28.7K −$1.44/SF
EGI
$329.9K $16.56/SF
− OpEx
−$99.0K −$4.97/SF
NOI
$230.9K $11.59/SF
Area
Kitsap County, WA
Vacancy
8.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
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%
$4,618,260
Cap Rate 7%
$3,298,757
Cap Rate 9%
$2,565,700
Alternative Uses
Best Use
Retail
$3.30M
$2.89M – $3.85M
NOI $230,913 @ 7.0% cap · market cap 8.25%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$6.64M
$5.81M – $7.75M
NOI $464,963 @ 7.0% cap · market cap 16.61%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
541
Businesses Nearby
45k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 58%
Dining 29%
Electronics 11%
Home Improvements & Furnishings 3%
76
Shops & Services
10,428 visits/mo
0.2 miles
Jack in the Box
Dining
10,364 visits/mo
0.5 miles
Heartland Toyota
Shops & Services
7,534 visits/mo
0.4 miles
Chevron
Shops & Services
5,949 visits/mo
0.5 miles
Verizon
Electronics
4,776 visits/mo
0.5 miles
Demographics for 98312, WA
33,405
Population
14,450
Households
2.3
Avg Household Size
37
Median Age
26%
College-Educated
96%
High-School Grad
65.7 sq mi
ZIP Area
508
Density / Sq Mi
$85,332
Median Household Income
$50,416
Median Earnings
$1,601
Median Rent
$430,700
Median Home Value
Market
Vacancy Rate% for Retail in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Shopping center - Two-building retail property with all units occupied by long-term tenants and professional management in place.
Where is this shopping center located?
The property is located at 4545 Auto Center Way Bremerton, WA.
What is the asking price?
The asking price for this property is $2,800,000.
What are key features of this property?
This property features: 19,920 sq. ft. of retail space across two buildings; Six retail units, fully occupied by long‑term tenants; Street presence on Auto Center Way in Bremerton
