Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$5,610,000
Office buildings
19045 State Hwy 305th NE Poulsbo, WA 98370-7311
Entity Owned
2-yr Hold
Free & Clear
Property ID
US90-0667981
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1978
Total area
32,423 SF
Lot
1.89 ac (82,328 SF)
Zoning code
CITY
APN
232601-1-064-2009
UPID
US90-0667981
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
$6.34M
CAP Approach
CAP
$7.59M
Comparable Approach
Comparable
$5.31M
Blend (final)
Blend
$5.61M
Owner & transaction history
Department Of Licensing · 2 yrs held
Department Of Licensing
since 2023
Last sale
$4.0M
6 recorded transactions
Zoning & alternative use
CITY · Poulsbo, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$8.9M
+10.6%
Neighborhood: shopping center
$8.3M
+2.5%
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
$6,425,000
ML approach
$6,340,000
CAP Approach
CAP Return
Estimation
6%
$8,215,000
6.5%
$7,585,000
7%
$7,045,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$8,075,000
Current use
RETAIL STORES
$8,925,000
Change: +11% · Conversion: Moderate
NEIGHBORHOOD: SHOPPING CENTER
$8,270,000
Change: +2% · Conversion: Difficult
MEDICAL BUILDING
$7,875,000
Change: -2% · Conversion: Easy
WAREHOUSE, STORAGE
$6,990,000
Change: -13% · Conversion: Difficult
Blend value · Realmo final
$5.61M
Range $5.05M – $6.17M · ±10% · vs last sale $4.00M (Jul 7 2020)
Last sale anchor
$4.00M
Jul 7 2020
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
$173 / 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
$35,743
Tax year 2024
Assessed value
$4,103,170
Assessed 2024
Previous assessed
$4,103,170
+0.0% YoY
Effective rate
0.87%
On assessed value
Assessed land
$473,560
Assessed improvement
$3,629,610
Land market value
$473,560
Improvement market value
$3,629,610
Total market value
$4,103,170
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
Off-Market
Year built
1978
Heating
YES
Stories
2
Total area
32,423 SF
Lot
1.89 ac (82,328 SF)
Zoning code
CITY
APN
232601-1-064-2009
UPID
US90-0667981
Jurisdiction
KITSAP
Zoning & alternative use
CITY · Poulsbo, WA
Zoning CITY · permitted uses
CITY · Poulsbo, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Poulsbo. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$8.1M
RETAIL STORES
Est. value
$8.9M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$8.3M
MEDICAL BUILDING
Est. value
$7.9M
WAREHOUSE, STORAGE
Est. value
$7.0M
OFFICE BUILDING Current
RETAIL STORES
NEIGHBORHOOD: SHOPPING CENTER
MEDICAL BUILDING
WAREHOUSE, STORAGE
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
1978
Heating
YES
Stories
2
Lot
1.89 ac
Current owner
From public records · entity-resolved
Department Of Licensing
Entity
Free & Clear · 2 yrs held
Mailing address
PO BOX 204, KINGSTON, WA 98346-0204
Ownership since
2023
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
Nov 27, 2023
—
Department Of Licensing
Kingston Sound View LLC
Lease
—
Jul 7, 2020
$4,000,000
Kingston Sound View LLC
Plaza 305 Associates LLC
Warranty Deed
$3,000,000 · Kitsap Bank
Apr 17, 2006
—
State Of Wa/dept/transportation
Plaza 305 Associates
Quit Claim Deed
related
—
Mar 29, 2006
—
Torvik Strand Settle
—
Trustees Deed
related
$999,000 · Kitsap Bank
—
—
Torvik Strand Settle
—
Deed Of Trust
related
$50,565 · Kitsap Bank
—
—
Torvik Strand Settle
—
Deed Of Trust
related
$604,940 · Kitsap 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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 19045 State Hwy 305th NE?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
