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Property profile & analytics
FOR LEASE
Office buildings
1040 NE Hostmark St Poulsbo, WA 98370
Entity Owned
20-yr Hold
Free & Clear
Property ID
US90-1690769
For Lease
Contact for pricing
1040 NE Hostmark St, Poulsbo, WA 98370
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Property summary
AI-generated overview
Olympic Place I, located at 1040 NE Hostmark St, Poulsbo, WA 98370, offers exceptional office space in the CBA Poulsbo submarket. This Class B building, constructed in 1989, boasts a total of 24,966 square feet across two stories. The property sits on a 1.16-acre lot (50,530 square feet) and is zoned for commercial use. Currently, there are 4,234 square feet of vacant space available, divisible into units as small as 903 square feet, with a maximum contiguous space of 2,370 square feet. The building features convenient amenities including 119 parking spaces and elevators. Enjoy stunning views of the Olympic Mountains from this centrally located office building, conveniently situated near Downtown Poulsbo. The property is ADA compliant and offers multiple tenancy options. The APN is 232601-1-056-2009. This is a fantastic opportunity for businesses seeking flexible and well-appointed office space in a desirable location. The building consists of one structure.
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1989
Total area
24,966 SF
Lot
1.16 ac (50,530 SF)
Zoning code
CITY
APN
232601-1-056-2009
UPID
US90-1690769
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$3.93M
Blend (final)
Blend
$3.08M
Owner & transaction history
State Of Wa Dept/transportation · 20 yrs held
State Of Wa Dept/transportation
since 2006
6 recorded transactions
Zoning & alternative use
CITY · Poulsbo, 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 Poulsbo submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Poulsbo 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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$3.08M
Range $2.77M – $3.38M · ±10%
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
$123 / 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
$26,434
Tax year 2024
Assessed value
$3,034,440
Assessed 2024
Previous assessed
$3,034,440
+0.0% YoY
Effective rate
0.87%
On assessed value
Assessed land
$375,720
Assessed improvement
$2,658,720
Land market value
$375,720
Improvement market value
$2,658,720
Total market value
$3,034,440
Applied tax rate
415.0000
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
Office buildings
Use group
OFFICE BUILDING
Status
For Lease
Year built
1989
Heating
YES
Stories
2
Total area
24,966 SF
Lot
1.16 ac (50,530 SF)
Zoning code
CITY
APN
232601-1-056-2009
UPID
US90-1690769
Jurisdiction
KITSAP
Zoning & alternative use
CITY · Poulsbo, WAZoning CITY · permitted uses
CITY · Poulsbo, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Building & site characteristics
From public records
Year built
1989
Heating
YES
Stories
2
Lot
1.16 ac
Current owner
From public records · entity-resolved
State Of Wa Dept/transportation
Entity
Free & Clear · 20 yrs held
Mailing address
1040 NE HOSTMARK ST STE #8, POULSBO, WA 98370-7337
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2006
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 29, 2024
—
Viking Land & Cattle Company LLC
—
Deed
related
$90,000 · Liberty Bank
Dec 2, 2022
—
Viking Land And Cattle Company LLC
—
Deed
related
$35,000 · Liberty Bank
Jan 20, 2006
—
State Of Wa Dept/transportation
Viking Land & Cattle Co LLC
Warranty Deed
related
—
—
—
Viking Land & Cattle Co LLC
—
Deed Of Trust
related
$241,367 · Frontier Bank
—
—
Viking Land & Cattle Co LLC
—
Deed Of Trust
related
$1,560,000 · Liberty Bay Bank
—
—
Viking Land & Cattle Co
—
Deed Of Trust
related
$1,400,000 · North Sound 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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