Functional Warehouse in Strategic
For Sale
Contact for pricing
5805 NE Minder Rd, Poulsbo, WA
8,000 SF warehouse with easy access to major highways.
Property Size8,000 SF
Lot Size0.68 Acres
Price / SF$150
Days on Market311
Property Features for 5805 NE Minder Rd
General Information
Standard status
Active
Size
8,000 SF
Lot size
0.68 Acres
Property subtype
INDUSTRIAL
Listing Agency:
KW Commercial Greater 360
(253) 606-6332
Listed By:
Joey Soller
(253) 606-6332
Source:
Moodyscre
Added: Oct 3, 2025
Changed: Aug 8
Last Checked: Aug 8 at 12:18PM
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.
This 8,000 square foot warehouse, constructed in 1992, is situated on 0.78 acres. The building features an 18-foot clear height, four 8-foot wide by 10-foot high drive-in doors, and a 456 square foot mezzanine. A new septic system has been installed. The site provides a parking ratio of 2.3 per 1,000 square feet. Located along the Highway 104 corridor, the property offers immediate access to Highway 305, Poulsbo, Kingston, Bainbridge Island, and Winslow Ferry service to Seattle, creating a commuter-friendly hub for regional operations. The zoning is Rural Employment Center (REC), which allows a wide array of employment uses including trades, fabrication, warehousing, assembly, and service-based business. Caretaker’s dwelling provisions may also apply. This property is suitable for contractors, service providers, or owner-users who need warehouse space in Kitsap County.
Key Highlights
- Rare 8,000 SF warehouse space in Kitsap County.
- Strategic location along Hwy 104 with immediate access to Hwy 305, Poulsbo, Kingston, Bainbridge Island, and Winslow Ferry.
- Zoning allows a wide array of employment uses (Rural Employment Center - REC).
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
$60,098
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
5.01%
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%
$1,201,960
$1.2M
Cap Rate 7%
$858,543
$858.5K
Cap Rate 9%
$667,756
$667.8K
Market Conditions
NOI Build-Up for 8,000 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
$72.0K $9.00/SF
− Vacancy
−$1.3K −$0.16/SF
EGI
$70.7K $8.84/SF
− OpEx
−$10.6K −$1.33/SF
NOI
$60.1K $7.51/SF
Area
Kitsap County, WA
Vacancy
1.80%
Lease Rate
$9.00 /SF/Yr
Expense Ratio
15.00%
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%
$1,201,960
Cap Rate 7%
$858,543
Cap Rate 9%
$667,756
Alternative Uses
Best Use
Warehouse
$858.5K
$751.2K – $1.00M
NOI $60,098 @ 7.0% cap · market cap 5.01%
Second Best
Industrial
$707.0K
$618.7K – $824.9K
NOI $49,493 @ 7.0% cap · market cap 4.12%
Theoretical Best
Specialty Retail
$2.67M
$2.33M – $3.11M
NOI $186,732 @ 7.0% cap · market cap 15.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
136
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Market
Vacancy Rate% for Industrial in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- United Business Park & Storage — 26139 United Rd NE, Kingston, WA 98346
- Kingston Vault Self Storage — 26909 WA-104 NE, Kingston, WA 98346
- Minder Storage — 6101 NE Minder Rd, Poulsbo, WA 98370
Frequently Asked Questions
What type of property is this?
Warehouse - 8,000 SF warehouse with easy access to major highways.
Where is this warehouse located?
The property is located at 5805 NE Minder Rd Poulsbo, WA.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: Rare 8,000 SF warehouse space in Kitsap County.; Strategic location along Hwy 104 with immediate access to Hwy 305, Poulsbo, Kingston, Bainbridge Island, and Winslow Ferry.; Zoning allows a wide array of employment uses (Rural Employment Center - REC).
