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    936 Water St Port Townsend, WA 98368

    Sponsored
    For Sale
    $1,875,000

    Prime Waterfront Retail & Apartments

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional Port Townsend property offers a unique investment opportunity encompassing a thriving retail business, "Abracadabra," boasting over $700,000 in annual sales. The business is housed in a building featuring four occupied apartments generating over $90,000 in annual rental income. The retail space itself is charming and well-established, featuring handmade wood countertops and displays, ample storage, and prominent window displays on a prime commercial street. The building includes private parking for added convenience. The land itself is located at 936 Water Street, Port Townsend, WA 98368, in Jefferson County. This is a rare chance to acquire a turnkey operation with both strong retail and rental income streams, situated in a desirable location. The property is listed at $1,875,000 and presents a compelling opportunity for investors seeking a blend of commercial and residential income. The business's vibrant atmosphere and consistent sales history, coupled with the reliable rental income from the apartments, make this a truly attractive investment prospect. The property's location on what is considered the "golden block" of the business district ensures high visibility and foot traffic. This is a rare opportunity to acquire a well-established and profitable business along with a multi-unit rental property in a thriving waterfront community.

    Property Features for 936 Water St

    General Information

    Property type
    Land

    HighLights

    • $1,875,000 asking price.
    • Commercial land located at 936 Water Street, Port Townsend, WA 98368.
    • Zero square footage; zero units.
    • Includes established retail business, Abracadabra, generating over $700,000 in annual sales.
    • Four‑unit apartment building above retail space producing over $90,000 in annual rental income.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Realty agency Restaurant Law Firm Dental Office Spa & Massage Hair Salon Building Supply Nail Salon Auto Repair Shop Clothing Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Port Townsend
    County
    JEFFERSON
    State
    Washington
    Longitude
    -122.7573147
    Latitude
    48.1142792

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    FAQs

    What type of property is this?
    Land - Prime Waterfront Retail & Apartments
    Where is this land located?
    The property is located at 936 Water St Port Townsend, WA.
    What is the asking price?
    The asking price for this property is $1,875,000.
    What are key features of this property?
    This property features: $1,875,000 asking price.; Commercial land located at 936 Water Street, Port Townsend, WA 98368.; Zero square footage; zero units.
    Request Owner's contact information
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    Port Townsend, WA 98368
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    Realmo Value Estimation

    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.

    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.

    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
    936 Water St Port Townsend, WA 98368
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