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    2472 Bethel SE Rd Port Orchard, WA 98366-2404
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    Property profile & analytics

    2472 Bethel SE Rd, Port Orchard, WA 98366-2404

    View on Map
    • Office buildings
    • 2,972 SF
    • 0.70 lot acres
    Off-Market
    Last Sale Feb 24, 2021
    $640,000
    Property ID
    US90-1123003
    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
    $700,000
    Show details
    Cap Rate Potential
    6.2%
    Office buildings
    Location Intelligence

    Current Use by Public Records

    • Michael A Dunn Law Offices / Law Firm
    • Comfort Dental Port Orchard, WA / Dental Office

    Property Details for 2472 Bethel SE Rd

    Year built
    2005
    Lot size
    0.70 lot acres
    Zone code
    CITY
    Property type
    Office buildings
    APN
    4625-000-001-0006
    APU
    46250000010006

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Jul 15, 2025 — Jts Properties Of Washington LLC — Deed · related $295k · Timberland Bank
    Feb 24, 2021 $640,000 Jts Properties Of Washington LLC Magnolia Professional Plaza LLC Warranty Deed $480k · Timberland Bank
    Sep 14, 2004 — Magnolia Professional Plz LLC — Trustees Deed · related $480k · Wells Fargo Bank
    Aug 3, 2004 $160,000 Magnolia Professional Plaza Ll Granquist,richard L & Paula J Grant Deed $80k · Wells Fargo Bank
    Apr 26, 2000 $100,000 Richard L Granquist Marsh Trust Grant Deed $98k · Seller
    Aug 13, 1990 $65,000 Marsh,frances Trust Unknown Grant Deed —
    — — Marsh Trust — Deed Of Trust · related $95k · First National Bank Port Orcha
    — — Marsh Trust — Deed Of Trust · related $95k · First National Bank Port Orcha
    — — Magnolia Professional Plz LLC — Deed Of Trust · related $540k · Wells Fargo Bank
    — — Richard L Grandquist — Deed Of Trust · related $53k · Kitsap Bank
    — — David C Hill — Deed Of Trust · related $80k · Wells Fargo Bank

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $725,000
      ML approach
      $790,000

    • CAP approach

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

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $521,000
      Market price range: $170k - $599k

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $740,000
      Current use
      RETAIL STORES
      $820,000
      Change: +11% Conversion: Moderate
      NEIGHBORHOOD: SHOPPING CENTER
      $760,000
      Change: +2% Conversion: Difficult
      MEDICAL BUILDING
      $720,000
      Change: -2% Conversion: Easy
      WAREHOUSE, STORAGE
      $610,000
      Change: -18% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Port Orchard
    County
    Kitsap
    State
    Washington
    Longitude
    -122.632
    Latitude
    47.5266
    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
    $5,507
    $84,240
    $569,840
    $654,080
    -
    $84,240
    $569,840
    $654,080

    Comparable in this City

    • Value Estimation
      $1,545,000
      7,290 SF

      3200 Rainshadow Ct

      OFFICE BUILDING
      3200 Rainshadow Ct, Port Orchard, WA 98366-9200
      View Details
    • Value Estimation
      $5,225,000
      28,370 SF

      216 Prospect St

      OFFICE BUILDING
      216 Prospect St, Port Orchard, WA 98366-5326
      View Details
    • Value Estimation by Request
      1,400 SF

      2081 Spg E St

      OFFICE BUILDING
      2081 Spg E St, Port Orchard, WA 98366-7182
      View Details
    • Value Estimation by Request
      2,025 SF

      Port

      OFFICE BUILDING
      Port, Orchard, WA 98366
      View Details
    • Value Estimation by Request
      1,176 SF

      504 Dekalb St

      OFFICE BUILDING
      504 Dekalb St, Port Orchard, WA 98366-5314
      View Details
    • Value Estimation
      $1,760,000
      8,028 SF

      730 Prospect St

      OFFICE BUILDING
      730 Prospect St, Port Orchard, WA 98366-5336
      View Details

    Similar Nearby for Sale

    • $2,300,000
      10,171 SF

      South Kitsap Professional Office Building

      Professional office building in South Kitsap's medical corridor.
      1922 Pottery Ave, Port Orchard, WA 98366
      View Details
    • Contact for pricing

      Port Orchard Two-Story Office Building

      Two-story office building near Highway 16 with updated leases.
      104 Tremont St, Port Orchard, WA 98366
      View Details
    • Contact for pricing

      South Kitsap Medical/Professional Office Building

      Office building in South Kitsap's medical corridor, ideal for owner-user.
      1922 Pottery Ave, Port Orchard, WA 98366
      View Details
    • $999,999
      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
      View Details
    • Contact for pricing

      Port Orchard Development Opportunity

      Two-parcel property with income potential and stormwater retention vault.
      2153 Bethel Ave, Port Orchard, WA 98366
      View Details
    • $1,300,000
      3,840 SF

      Well-Maintained Office Building with Garage

      Two-story office building with flexible layout and detached garage.
      1550 Woodridge Dr SE, Port Orchard, WA 98366
      View Details

    Similar Nearby for Lease

    • $57,972
      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
      View Details
    • $4,350 /Mo
      3,480 SF

      Flexible Commercial Building with Parking

      3,480 SF commercial building suitable for various business uses.
      4560 Mile Hill Dr, Port Orchard, WA 98366
      View Details
    • $400 /Mo
      190 SF

      Office Suite in Port Orchard

      Office suite with natural light available for rent.
      2501 Mile Hill Dr, Port Orchard, WA 98366
      View Details
    • $1,240 /Mo
      930 SF

      Professional Office Suite For Rent

      Second-floor office suite in high-visibility location, suitable for professionals.
      2497 Bethel Rd SE, Port Orchard, WA 98366
      View Details
    • $500 /Mo
      997 SF

      Executive Office Suites For Lease

      Executive office suites available for lease with included utilities.
      813 Division St, Port Orchard, WA 98366
      View Details
    • Contact for pricing
      4,941 SF

      Port Orchard Office Space Available

      Centrally located office spaces with easy highway access and parking.
      1950 Pottery Ave, Port Orchard, WA 98366
      View Details
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    2472 Bethel SE Rd
    Port Orchard, WA 98366-2404
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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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    2472 Bethel SE Rd, Port Orchard, WA, 98366
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