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Property profile & analytics
FOR LEASE
Retail space
21505 Market Pl NW, Poulsbo, WA 98370
Entity Owned
Free & Clear
Property ID
US90-1271021
For Lease
1 / 2
$35 SF/Yr
21505 Market Pl NW, Poulsbo, WA 98370
View Listing →
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
2005
Total area
15,731 SF
Lot
1.72 ac (74,923 SF)
Zoning code
CITY
APN
102601-4-050-2004
UPID
US90-1271021
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
by Request
Blend (final)
Blend
by Request
Owner & transaction history
College Marketplace Shops LLC
College Marketplace Shops LLC
since 2025
Last sale
$5.6M
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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
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
$45,081
Tax year 2024
Assessed value
$5,283,450
Assessed 2024
Previous assessed
$5,283,450
+0.0% YoY
Effective rate
0.85%
On assessed value
Assessed land
$1,002,010
Assessed improvement
$4,281,440
Land market value
$1,002,010
Improvement market value
$4,281,440
Total market value
$5,283,450
Applied tax rate
420.0000
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
2005
Heating
NONE
Stories
1
Total area
15,731 SF
Lot
1.72 ac (74,923 SF)
Zoning code
CITY
APN
102601-4-050-2004
UPID
US90-1271021
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.
Building & site characteristics
From public records
Year built
2005
Heating
NONE
Stories
1
Lot
1.72 ac
Current owner
From public records · entity-resolved
College Marketplace Shops LLC
Entity
Free & Clear · 0 yrs held
Mailing address
2940 FAIRVIEW AVE E, SEATTLE, WA 98102-3016
Ownership since
2025
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
Dec 4, 2025
—
College Marketplace Shops LLC
—
Deed
related
$3,250,000 · Red Canoe Cu
Jul 31, 2025
$5,600,000
College Marketplace Shops LLC
Granite Trust Washington LLC
Warranty Deed
—
Sep 29, 2017
—
Granite Trust Washington Lw
—
Deed
related
$3,360,000 · Umpqua Bk
Sep 13, 2007
$6,525,365
Granite Trust Washington LLC
Barber Dev II LLC
Warranty Deed
$3,310,000 · Citicorp USA Corp
—
—
Barber Dev II LLC
—
Deed Of Trust
related
$4,000,000 · Kitsap Community FCU
—
—
Granite Trust Washington Lw
—
Deed Of Trust
related
$3,360,000 · Umpqua Bk
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?”
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