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    2179 Chico NW Way Bremerton, WA 98312
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    Property profile & analytics

    2179 Chico NW Way, Bremerton, WA 98312

    View on Map
    • Office buildings
    • 3,900 SF
    • 0.90 lot acres
    Off-Market
    Property ID
    US90-1264401
    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
    $890,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Office buildings

    Property Details for 2179 Chico NW Way

    Year built
    1940
    Lot size
    0.90 lot acres
    Zone code
    RR
    Property type
    Office buildings
    APN
    082401-3-067-2003
    APU
    8240130672003

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Dec 17, 2018 — Pieze Properties LLC Pieze,dana C & Donna L Quit Claim Deed · related —
    Aug 4, 2015 $370,100 Dana C Pieze Triton Marine Construction Cor Warranty Deed $250k · Kitsap Bk
    Feb 16, 2007 $250,000 Triton Marine Const Corp Gilbert Robert L Quit Claim Deed · related —
    May 25, 1993 — Robert Lee Gilbert Unknown Quit Claim Deed · related —
    — — Triton Marine Const Corp — Deed Of Trust · related $229k · Westsound Bank

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $990,000
      6.5%
      $910,000
      7%
      $845,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,084,000
      Market price range: $324k - $1.16M
      AI Estimate
      $672,000
      Market price range: $193k - $699k

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $735,000
      Current use
      NEIGHBORHOOD: SHOPPING CENTER
      $995,000
      Change: +35% Conversion: Difficult
      MEDICAL BUILDING
      $945,000
      Change: +29% Conversion: Easy
      RETAIL STORES
      $740,000
      Change: +1% Conversion: Moderate
      AUTO REPAIR, GARAGE
      $700,000
      Change: -5% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Bremerton
    County
    Kitsap
    State
    Washington
    Longitude
    -122.71
    Latitude
    47.5829
    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
    $8,598
    $145,080
    $776,110
    $921,190
    -
    $145,080
    $776,110
    $921,190

    Comparable in this City

    • Value Estimation
      $5,350,000
      49,200 SF

      5606 Kitsap Way

      OFFICE BUILDING
      5606 Kitsap Way, Bremerton, WA 98312-2236
      View Details
    • Value Estimation
      $1,185,000
      5,000 SF

      5210 Sinclair Way

      OFFICE BUILDING
      5210 Sinclair Way, Bremerton, WA 98312-4613
      View Details
    • Value Estimation
      $1,685,000
      11,047 SF

      4811 Werner Rd

      OFFICE BUILDING
      4811 Werner Rd, Bremerton, WA 98312-4403
      View Details
    • Value Estimation
      $610,000
      4,000 SF

      5551 Imperial Way

      OFFICE BUILDING
      5551 Imperial Way, Bremerton, WA 98312-4998
      View Details
    • Value Estimation
      $2,645,000
      17,325 SF

      9300 Barney White Rd

      OFFICE BUILDING
      9300 Barney White Rd, Bremerton, WA 98312-4933
      View Details
    • Value Estimation
      $680,000
      3,840 SF

      4795 Wilkinson W Rd

      OFFICE BUILDING
      4795 Wilkinson W Rd, Bremerton, WA 98312-9750
      View Details

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      Commercial building in Bremerton with ample parking and Kitsap Way frontage.
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      Two-Story Office Building For Sale

      Two-story office building with long-term tenant and multi-tenant options.
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    • $350,000

      Retail or Office Space Available

      Adaptable retail or office space in revitalizing Charleston District.
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      Five-unit building with redevelopment potential in Bremerton, Washington.
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    Similar Nearby for Lease

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      1,900 SF

      Callow Avenue Retail/Office Space

      Retail or office space available on busy Callow Avenue.
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    • $25 SF/Yr

      Bremerton Retail/Office Space Available

      Retail/Office space for lease in West Bremerton submarket.
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      View Details
    • Contact for pricing
      2,650 SF

      Industrial Lay-down Yard For Rent

      Gated, paved industrial yard with office and warehouse space.
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      View Details
    • $2,025 /Mo
      1,620 SF

      Office Space on Kitsap Way

      Office space available January 2026 in thriving Bremerton area.
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    • $3,944 /Mo
      1,893 SF

      Freeway Corridor Retail/Office Space

      1,893 RSF retail/office space with freeway access.
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    • $4,461 /Mo
      2,433 SF

      Office or Retail Space Available

      Office or retail space with great signage and ample parking.
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      View Details
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    Bremerton, WA 98312
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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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    2179 Chico NW Way, Bremerton, WA, 98312
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