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    21 Romance Hill Rd Belfair, WA 98528

    • Office Properties & Spaces
    • 11,503 SF
    OFF-MARKET
    Value Estimation
    Location Intelligence

    Current Use by Public Records

    • Belfair Dental / Dentist
    • Courtenay Havers / Family Practice Physician / Physical Examination Center
    • Christine Romascan / Family Practice Physician / Physical Examination Center
    • Raul Ponla Dominguiano / Family Practice Physician
    • St. Michael Medical Center PSC - Belfair / Medical Laboratory

    Property Details for 21 Romance Hill Rd

    Year built
    2008
    Property size
    11,503 SF
    Property type
    Office Properties & Spaces
    Property subtype
    Medical offices

    Description

    This exceptional Class A, 11,503 square foot medical office building presents a compelling investment opportunity. Located at 21 Romance Hill Rd, Belfair, WA 98528, this property boasts three tenants: Virginia Mason Franciscan Health, Peninsula Physical Therapy, and Belfair Dental – all original occupants since the building's construction in 2008/2009, ensuring consistent occupancy. The building features a triple-net (NNN) lease structure, minimizing landlord responsibilities to roof replacement and structure maintenance, with annual rent bumps. The property sits on a 76,514 square foot lot and is zoned MU. The asking price is $5,700,000, representing a price per square foot of $537.68 and a land value of $80.83/SF. The building enjoys a 6.60% cap rate. Recent façade and signage updates enhance the property's curb appeal. Strategically located off WA-3 and Romance Hill Road, this facility is the only urgent care center serving North Mason County, providing excellent visibility and accessibility. This is an ideal 1031 exchange opportunity, with seller financing available. The investment-grade tenancy, coupled with the recession-resistant healthcare sector, makes this a highly attractive and stable investment. The property's APN is 12332-50-90041.

    Value Estimation

    Powered by Realmo proprietary methodology Last update: July 3, 2025

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Belfair
    County
    Mason
    State
    Washington
    Longitude
    -122.83
    Latitude
    47.4468

    Comparable in this City

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    • Value Estimation by Request
      12,248 SF

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      70 Medical Ctr Rd

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      131 Roy Boad Rd

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    • Value Estimation
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      23160 State Rte 3rd 3

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    21 Romance Hill Rd
    Belfair, WA 98528
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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
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