Entity Owned Property summary
AI-generated overview
This exceptional 11,340-square-foot warehouse, situated on a 1.41-acre lot in Bremerton, Washington, presents a compelling investment opportunity. Built in 1978, the single-building property is zoned FC and offers a versatile layout ideal for various commercial and industrial uses. Currently configured for cannabis cultivation, this adaptable space boasts high ceilings, ample parking, and a flexible floor plan to accommodate diverse operational needs. Its prime location in Bremerton provides convenient access to major transportation routes and essential amenities. The property benefits from its proximity to key employers like the Puget Sound Naval Shipyard, Safeway Distribution Center, and Olympic College, contributing to a robust local economy. The surrounding area also offers a range of dining, retail, and recreational options. This well-maintained warehouse is strategically positioned to thrive within Bremerton's dynamic commercial landscape, making it an attractive investment for businesses seeking a functional and accessible location. The asking price is $1,500,000. The property's address is 111 Bruenn Ave, Bremerton, WA 98312.
Property profile
Verified
Property type
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Year built
1966
Total area
11,340 SF
Lot
1.41 ac (61,420 SF)
Zoning code
CITY
APN
162401-3-154-2007
UPID
US90-2820634
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Big Box & Wholesale Store Distribution Center
Location
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.74M
CAP Approach
CAP
$1.67M
Comparable Approach
Comparable
$1.16M
Blend (final)
Blend
$1.37M
Owner & transaction history
since 2025
Last sale
$1.3M
7 recorded transactions
Zoning & alternative use
CITY · Bremerton, WA
Top alternative use upside
Retail stores
$2.2M
+40.5%
Office building
$2.1M
+39.5%
Auto repair, garage
$2.0M
+32.8%
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
Value estimation
Instant AI valuation built from comps, income signals, and proprietary benchmarks. A defensible range, not a single guess.
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Unlock the complete Valuation workflow
Full NOI reconstruction, selected comps, alternative-use scenarios, data audit and PDF export.
All 9 comparables with addresses
4 alternative uses screened
Sensitivity value band
Source audit · 6 inputs
PDF export
Analytics Standard · 5 reports
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Summary
1
Valuation conclusion
Included free
Estimated market value
$1.37M
Value range
$1.23M – $1.50M
±10% around blend
Estimated value / SF
$120 / SF
Confidence
High
9 county-verified comps
Property data
100
Market benchmarks
100
Comparable evidence
90
$1.23M
blend $1.37M
$1.50M
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
11,340 SF
Lot area
1.41 ac
Year built
1966
Stories
1
APN
162401-3-154-2007
Zoning
CITY
Assessed value
$881,970
Annual tax
$7,504
3
Income approach: direct capitalization
Partial preview
Income approach indication
$1.67M
Direct capitalization · @ 6.5% CAP return
@ 6% CAP return
$1.81M
@ 6.5% CAP return
$1.67M
@ 7% CAP return
$1.55M
4
Sales comparison
Partial preview
Sales approach indication
$3.13M
Weighted, 9 comps · high confidence
Evidence
9 found · 6 selected
County-verified recorded sales
Comparable
Sale dateSale price$ / SF
1.5 mi away · 11,020 SF
3.7 mi away · 8,500 SF
15.3 mi away · 9,260 SF
16.0 mi away · 10,750 SF
17.0 mi away · 8,510 SF
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$1.37M
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Current market position
Included free
Benchmark
Observed band ($/SF)AverageSubject delta
ZIP 21 sales
$135
-11%
Submarket 30 sales
$134
-10%
County 83 sales
$205
-41%
Band = middle half (Q1–Q3) of recorded sale $/SF for this use type per geography; the diamond marks the subject at $120/SF. Delta below average reads as headroom. Source: Realmo CRE sales derivatives (county records).
7
Alternative use screening
Partial preview
Top alternative use
Retail Stores
Gross theoretical uplift
+40%
vs current-use indication
Office Building
Auto Repair, Garage
Warehouse, Storage · current use
Values shown before conversion costs, entitlement costs, capital expenditures and stabilization risk.
8
Data & methodology
Included free
Building area
County record
Property tax
County record
Assessed value
County record
Zoning designation
County record
Operating expenses
Modeled
Market rent
Not available
Not analyzed due to unavailable source data: actual rent roll, tenant leases, physical condition and capital
requirements are outside a desktop analysis.
Cost Approach excluded: income and sales evidence cover the value conclusion.
Automated valuation analysis, not a licensed appraisal. Figures are derived from public
records and proprietary models. Desktop analysis: no physical inspection, tenant leases or reported
property income. Verify with a licensed appraiser before transacting.
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
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Full market tables, editable assumptions, comparable evidence, saved work and exports.
9-scenario matrix
Comparable evidence · 9 sales
Market rates by use type
PDF export
Analytics Standard · 5 reports
from $99/month
from $99/month
Overview
Implied cap rate
6.10%
Implied, in-place cap rate for this warehouses
Estimated NOI ÷ last recorded sale. Refine with your own numbers in the full report.
Lower yield / higher price
Higher yield / lower price
5.0%
This property · 6.10%
9.0%
NOI (est.)
$88k *
Last sale · Mar 2025
$1.25M
* derived from a real price signal at a 7% cap
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Test a cap rate
Implied value$1.43M
Move the market yield to see immediate price impact.
Value / SF
$126
Vs. selected
Base
Derivation
NOI ÷ cap
Arithmetic over the derived NOI * — not market scenario modeling.
NOI × cap matrix
Preview
Preview of 9 modeled outcomes.
NOI
5.60%6.10%6.60%
$79k
$1.41M
$1.29M
$1.19M
$88k
$1.56M
$1.43M
$1.33M
$96k
$1.72M
$1.58M
$1.46M
NOI sensitivity ±10% across the selected-rate band (±0.5 pp) — derivation of the NOI above.
Comparable evidence
Partial preview
Recorded sales nearby
9 found
High confidence · county-verified
Closest comparable
$720k
1.1 mi · Dec 2025 · $50/SF
Property tax & assessments
Tax year 2024Property tax & assessments
Tax year 2024
Tax billed
$7,504
Tax year 2024
Assessed value
$881,970
Assessed 2024
Previous assessed
$881,970
+0.0% YoY
Effective rate
0.85%
On assessed value
Assessed land
$326,470
Assessed improvement
$555,500
Land market value
$326,470
Improvement market value
$555,500
Total market value
$881,970
Applied tax rate
10.0000
Automated cap rate analysis. Based on public records, market benchmarks and proprietary
models. Verify with a licensed professional before transacting.
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Status
Off-Market
Year built
1966
Heating
NONE
Stories
1
Total area
11,340 SF
Lot
1.41 ac (61,420 SF)
Zoning code
CITY
APN
162401-3-154-2007
UPID
US90-2820634
Jurisdiction
KITSAP
Zoning & alternative use
CITY · Bremerton, WAZoning CITY · permitted uses
CITY · Bremerton, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Alternative use value scenarios
Repositioning upside vs current use
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Building & site characteristics
From public records
Year built
1966
Heating
NONE
Stories
1
Lot
1.41 ac
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
County-recorded code
CITY
Jurisdiction
Bremerton, WA
Recorded code
CITY
Zoning Insight
What can be built and operated here — officially.
The district profile from the municipal source: what is on file for CITY in Bremerton, WA.
What opens after registration
Zoning profile
3 official documentsVerified municipal sources with file download
Match provenanceAssignment basis, match tier and confidence
Private report access
See the official zoning profile for this address.
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Ownership Intelligence
Find the owner behind the property.
Unlock the evidence behind ownership: portfolio, transactions, debt and signals that help you decide who to contact next.
What opens after registration
Ownership report
Owner identityResolved entity and name variants
Portfolio holdingsLinked properties and estimated value
Deal signalsSell-side activity worth following
Debt & historyRecorded loans and transaction history
Private report access
See the ownership record for this address.
Registration is required before any owner information is shown.
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Owner of record and activity signals are derived from public records and modeled classifications.
They do not confirm beneficial ownership or intent to transact.
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