20307 Viking AvePoulsbo, WA 98370

Property Details for 20307 Viking Ave

Year built

1980

Lot size

1.03 AC

Property size (Sq ft)

6,965 SF

Zone code

CITY

Property type

Office properties

Property subtype

Office buildings

APN

152601-1-144-2003

APU

15260111442003

Description

This exceptional commercial property, located at 20307 Viking Avenue NW in Poulsbo, WA, presents a lucrative investment opportunity. The building, zoned C-2, boasts a prime, signalized location ensuring high visibility and accessibility for businesses. Currently housing a thriving mix of tenants including a chiropractic practice, acupuncture clinic, dental office, and a co-working space (with one unit currently vacant), this property offers immediate income potential. The building features 49 parking spaces, a significant advantage in a high-traffic area. Each floor includes its own public restroom, enhancing convenience for tenants and visitors. Access is provided from two major roads, further maximizing exposure. The property also benefits from prominent monument signage. Meticulously maintained and updated, this building is easy to manage and offers a current 3.63% capitalization rate with potential for expansion to 7%. The property's strong tenant base and strategic location make it an ideal investment for discerning buyers seeking a stable and growing income stream. The vacant unit presents an opportunity for immediate revenue generation or expansion of existing businesses. This is a rare opportunity to acquire a well-established, high-performing commercial property in a desirable location.

• CAP approach

  CAP return

  Valuation

  6%

  $1,878,703

  6.5%

  $1,734,187

  7%

  $1,610,317

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,117,174

  Geo Method

  $1,341,320

• Alternative Use

  Use

  Valuation

  Residential

  $2,150,392

  Hospitality

  $1,969,748

  Educational

  $1,638,807

  Medical

  $1,695,168

  Retail

  $2,549,255

Location Insight

City

Poulsbo

County

Kitsap

State

Washington

Latitude

47.7474

Longitude

-122.656

CBSA code

14740

CBSA name

BREMERTON-SILVERDALE, WA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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