Mixed-Use Building with Apartment
615 4th St Bremerton, WA 98337
615 4th St, Bremerton, WA, 98337
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For Sale
Contact for pricing
Main level can be split into two spaces, with a basement storage area and a second-floor apartment.
Property Size6,520 SF
Price / SF$117.33
Days on Market160
Property Features for 615 4th St
General Information
- Standard status
- Active
- Size
- 6,520 SF
- Property subtype
- Mixed Use, Multifamily, Office, Retail
Building Details
- Year Built
- 1937
Listing agency
Kidder Mathews Tacoma
(206) 276-6811
Listed by
Brian Richardson · License #78371
Source
Crexi
Added: Feb 11 Updated: Jul 20 at 8:59PM Checked: Jul 20 at 8:59PM
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 Kidder Mathews Tacoma
Investment Insights
Based on property information with market context.
615 4th St is a downtown Bremerton mixed-use building designed for flexible use on the main level and built-in residential income above. The main floor offers approximately 4,200 SF with a large open area plus three separate sections, including three bathrooms and a kitchen. The layout allows the space to be split into two spaces, making it workable for a showroom, studio, service business, or creative headquarters.
A basement level of approximately 1,200 SF provides storage and utility space, with the option to use or monetize. The second floor includes an apartment of about 1,120 SF generating $1,300 per month. The property has eight on-site parking stalls, and the roof’s structural capacity supports expanding the second floor for up to three additional residential units without having to add sprinklers, supporting future scale of NOI through added units.
A basement level of approximately 1,200 SF provides storage and utility space, with the option to use or monetize. The second floor includes an apartment of about 1,120 SF generating $1,300 per month. The property has eight on-site parking stalls, and the roof’s structural capacity supports expanding the second floor for up to three additional residential units without having to add sprinklers, supporting future scale of NOI through added units.
Key Highlights
- Mixed‑use property built in 1937 in downtown Bremerton with main level options for an owner‑user or investor.
- Main level offers about 4,200 SF with large open area that can be split into two separate spaces, plus 3 bathrooms and a kitchen.
- Includes about 1,200 SF basement for storage/utility use or monetization.
Local Financial Insights For Apartment 5plus
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 | $140.8k | $21.60 |
| − Vacancy | −$13.2k | −$2.03 |
| EGI | $127.6k | $19.57 |
| − OpEx | −$57.4k | −$8.81 |
| NOI | $70.2k | $10.76 |
6,520 SF · lease $21.60/SF/yr · vacancy 9.40% · expense 45.00%
Alternative Uses
Best Use
Office B
$1.33M
$1.16M – $1.55M
NOI $92,949 @ 7.0% cap · market cap 12.15%
Second Best
Retail
$1.08M
$944.8K – $1.26M
NOI $75,580 @ 7.0% cap · market cap 9.88%
Theoretical Best
Specialty Retail
$2.17M
$1.90M – $2.54M
NOI $152,187 @ 7.0% cap · market cap 19.89%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Creative space
Similar For Sale Nearby
FAQs
What type of property is this?
Creative space - Main level can be split into two spaces, with a basement storage area and a second-floor apartment.
Where is this creative space located?
The property is located at 615 4th St Bremerton, WA.
What is the asking price?
The asking price for this property is $765,000.
What are key features of this property?
This property features: Mixed‑use property built in 1937 in downtown Bremerton with main level options for an owner‑user or investor.; Main level offers about 4,200 SF with large open area that can be split into two separate spaces, plus 3 bathrooms and a kitchen.; Includes about 1,200 SF basement for storage/utility use or monetization.
