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Property profile & analytics
FOR LEASE
Retail space
1014 Bay St, Port Orchard, WA 98366
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US90-2739917
For Lease
1 / 2
$22 SF/Yr
1014 Bay St, Port Orchard, WA 98366
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Property summary
AI-generated overview
This exceptional mixed-use property at 1014 Bay Street in Port Orchard offers 18,314 square feet of versatile space spread across 13 suites within a two-story building. Built in 1973, this single building sits on a 0.81-acre lot (35,284 square feet) and enjoys prominent Bay Street frontage, providing unparalleled visibility and stunning bay views. The property's location in the heart of the city's commercial district ensures high traffic and easy accessibility. Large windows offer panoramic bay views, creating a desirable atmosphere for any business. The layout is adaptable to various uses, including retail, office, or a combination of both. The property is served by PSE power, but lacks elevators. Property taxes are $1.08 per square foot. Convenient access to public transportation and parking is available. Flexible leasing options are available to accommodate diverse business needs. This is an excellent opportunity to establish a business in a high-traffic, visually appealing location with significant potential.
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1973
Total area
18,116 SF
Lot
0.81 ac (35,284 SF)
Zoning code
CITY
APN
4053-014-004-0005
UPID
US90-2739917
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Aflac Insurance Agency
-
South Kitsap Chamber of Commerce Business Service Center Advocacy Group
-
The Pacific Tattoo Studio Tattoo & Piercing Shop
-
Aphrodisia Boutique (Bike/Boat/Book/etc) Store
-
Serengeti Care Home Health Care Service
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$3.35M
CAP Approach
CAP
$3.23M
Comparable Approach
Comparable
$1.86M
Blend (final)
Blend
$3.08M
Owner & transaction history
Hopkins Holdings LLC · 4 yrs held
Hopkins Holdings LLC
since 2022
Last sale
$2.7M
7 recorded transactions
Zoning & alternative use
CITY · Port Orchard, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Port Orchard submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Port Orchard submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$3,410,000
ML approach
$3,345,000
CAP Approach
CAP Return
Estimation
6%
$3,500,000
6.5%
$3,230,000
7%
$3,000,000
Alternative Use
Use
Estimation
RETAIL STORES
$4,985,000
Current use
NEIGHBORHOOD: SHOPPING CENTER
$4,620,000
Change: -7% · Conversion: Moderate
OFFICE BUILDING
$4,510,000
Change: -10% · Conversion: Easy
MEDICAL BUILDING
$4,400,000
Change: -12% · Conversion: Difficult
Blend value · Realmo final
$3.08M
Range $2.77M – $3.38M · ±10% · vs last sale $2.69M (May 13 2022)
Last sale anchor
$2.69M
May 13 2022
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$170 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2024Property tax & assessments
Tax year 2024
Tax billed
$15,933
Tax year 2024
Assessed value
$1,892,540
Assessed 2024
Previous assessed
$1,892,540
+0.0% YoY
Effective rate
0.84%
On assessed value
Assessed land
$272,260
Assessed improvement
$1,620,280
Land market value
$272,260
Improvement market value
$1,620,280
Total market value
$1,892,540
Applied tax rate
805.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
For Lease
Year built
1973
Heating
YES
Stories
2
Total area
18,116 SF
Lot
0.81 ac (35,284 SF)
Zoning code
CITY
APN
4053-014-004-0005
UPID
US90-2739917
Jurisdiction
KITSAP
Zoning & alternative use
CITY · Port Orchard, WA
Zoning CITY · permitted uses
CITY · Port Orchard, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Port Orchard. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$5.0M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$4.6M
OFFICE BUILDING
Est. value
$4.5M
MEDICAL BUILDING
Est. value
$4.4M
RETAIL STORES Current
NEIGHBORHOOD: SHOPPING CENTER
OFFICE BUILDING
MEDICAL BUILDING
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1973
Heating
YES
Stories
2
Lot
0.81 ac
Current owner
From public records · entity-resolved
Hopkins Holdings LLC
Entity
Mailing address
155 NW MILLER RD, PORTLAND, OR 97229-6706
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 13, 2022
$2,690,000
Hopkins Holdings LLC
David Mark Currier
Warranty Deed
—
Jan 21, 2022
—
State Of Washington
David M Currier
Lease
—
Mar 31, 2015
—
David M Currier
Currier Veronica R
Quit Claim Deed
related
$1,300,000 · Bank Of The West
Sep 28, 2007
—
David M Currier
Currier,david M
Quit Claim Deed
related
$1,235,000 · Us Bank NA
May 15, 1997
$960,000
David M Currier
Bayview Investors
Grant Deed
$720,000 · Anchor Savings Bank
Aug 25, 1992
$630,000
Bayview Investors
Unknown
Grant Deed
—
—
—
David Currier
—
Deed Of Trust
related
$962,500 · Rainier Pacific Bank
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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