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    1580 Woodridge SE Dr Port Orchard, WA 98366-3818
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    Property profile & analytics

    1580 Woodridge SE Dr, Port Orchard, WA 98366-3818

    View on Map
    • Medical Office Space
    • 2,536 SF
    • 0.48 lot acres
    Off-Market
    Last Sale Aug 11, 2023
    $475,000
    Property ID
    US90-1748860
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    $575,000
    Show details
    Cap Rate Potential
    7.3%
    Medical Office Space
    Location Intelligence

    Current Use by Public Records

    • Woodridge Vision Clinic / Physician
    • Janice P. Ngan, OD / Physician

    Property Details for 1580 Woodridge SE Dr

    Year built
    1983
    Lot size
    0.48 lot acres
    Zone code
    RCO
    Property type
    Medical Office Space
    Property subtype
    Medical centers
    APN
    4514-000-010-0009
    APU
    45140000100009

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Aug 11, 2023 $475,000 Jpnd Real Estate Holdings LLC Michael G Mcgrath Warranty Deed $375k · Michael Mcgrath
    — — Michael G Mcgrath — Deed Of Trust · related $88k · Kitsap Bank
    — — Michael G Mcgrath — Deed Of Trust · related $140k · Pacific Northwest Bank
    — — Michael G Mcgrath — Deed Of Trust · related $80k · First National Bank Port Orcha

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $620,000
      ML approach
      $655,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $755,000
      6.5%
      $695,000
      7%
      $645,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $532,000
      Market price range: $402k - $824k

    • Alternative Use

      Use
      Estimation
      MEDICAL BUILDING
      $615,000
      Current use
      RETAIL STORES
      $700,000
      Change: +13% Conversion: Difficult
      NEIGHBORHOOD: SHOPPING CENTER
      $645,000
      Change: +5% Conversion: Difficult
      OFFICE BUILDING
      $630,000
      Change: +3% Conversion: Easy
      WAREHOUSE, STORAGE
      $520,000
      Change: -16% Conversion: Difficult

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Port Orchard
    County
    Kitsap
    State
    Washington
    Longitude
    -122.582
    Latitude
    47.5353
    CBSA code
    14740
    CBSA name
    BREMERTON-SILVERDALE, WA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2024
    $3,362
    $127,420
    $291,010
    $418,430
    -
    $127,420
    $291,010
    $418,430

    Comparable in this City

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      $1,315,000
      6,901 SF

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      MEDICAL BUILDING
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    • Value Estimation by Request
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      200 Bethel Ave

      MEDICAL BUILDING
      200 Bethel Ave, Port Orchard, WA 98366-5216
      View Details
    • Value Estimation
      $565,000
      3,376 SF

      2427 Bethel SE Rd

      MEDICAL BUILDING
      2427 Bethel SE Rd, Port Orchard, WA 98366-2438
      View Details
    • Value Estimation
      $1,470,000
      5,857 SF

      1953 Pottery Ave

      MEDICAL BUILDING
      1953 Pottery Ave, Port Orchard, WA 98366-2558
      View Details
    • Value Estimation by Request
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      2040 Mitchell SE Rd

      MEDICAL BUILDING
      2040 Mitchell SE Rd, Port Orchard, WA 98366-4401
      View Details
    • Value Estimation
      $745,000
      4,960 SF

      6500 Mile Hl Dr

      MEDICAL BUILDING
      6500 Mile Hl Dr, Port Orchard, WA 98366-8724
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      South Kitsap Medical/Professional Office Building

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      Port Orchard Office Condo Unit

      Office condo in Port Orchard medical corridor, ready for medical practice.
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      Port Orchard Office Condo Unit

      Office condo in Port Orchard medical corridor, ready for medical practice.
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      10,171 SF

      South Kitsap Professional Office Building

      Professional office building in South Kitsap's medical corridor.
      1922 Pottery Ave, Port Orchard, WA 98366
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      3,840 SF

      Well-Maintained Office Building with Garage

      Two-story office building with flexible layout and detached garage/shop.
      1550 Woodridge Dr SE, Port Orchard, WA 98366
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    • Contact for pricing

      Kitsap County Investment Opportunity

      7.26-acre commercial land with income potential in Kitsap County.
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    Similar Nearby for Lease

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      Class A Medical Office Space

      Class A medical office space available for rent.
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    • $4,350 /Mo
      3,480 SF

      Flexible Commercial Building with Parking

      3,480 SF commercial building suitable for various business uses.
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      View Details
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      31,336 SF

      Port Orchard Office Building For Lease

      31,336 SF office building in Port Orchard available for lease.
      1435 Olney Ave SE, Port Orchard, WA 98366
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    • $1,541 /Mo
      660 SF

      Port Orchard Office Space Available

      Office suite in central Port Orchard location with high visibility.
      2501 Mile Hill Dr, Port Orchard, WA 98366
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    • $4,381 /Mo
      2,146 SF

      Port Orchard Office Space Available

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      View Details
    • $2,578 /Mo
      130 SF

      Office Space on Mile Hill

      Office suite available in a professional Port Orchard location.
      2501 Mile Hill Dr, Port Orchard, WA 98366
      View Details
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    Port Orchard, WA 98366-3818
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    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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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