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Property profile & analytics
FOR LEASE
Office buildings
2500 Cherry Pl Bremerton, WA 98310
Entity Owned
5-yr Hold
~
Est. High Equity
Property ID
US90-3250785
For Lease
1 / 10
Contact for pricing
2500 Cherry Pl, Bremerton, WA 98310
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Property summary
AI-generated overview
The 2500 Cherry Professional Building, a three-story Class B medical office building, offers flexible space in Bremerton, WA. Located at 2500 Cherry Pl, 98310, this property boasts 16,175 square feet of total space, with suites ranging from 858 to 10,550 contiguous square feet. Ideal for multiple tenants, the building features 97 parking spaces, providing ample convenience for staff and patients. Constructed in 1976, the building sits on a 1.41-acre lot and is zoned EC. Its location in the Sheridan Park neighborhood of East Bremerton offers easy access to the Historic Manette District and a convenient ferry ride to downtown Seattle. The property's efficient design and modern image make it an excellent choice for medical professionals seeking a prestigious and functional workspace. The Kitsap County location (APN: 3967-001-012-0108) provides a strong foundation for a thriving medical practice. This is a rare opportunity to secure space in a well-maintained, established medical building with excellent accessibility and visibility. Inquire today to learn more about available suites and lease terms.
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1976
Total area
16,175 SF
Lot
1.43 ac (62,291 SF)
Zoning code
CITY
APN
3967-001-012-0108
UPID
US90-3250785
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
$1.42M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.27M
Owner & transaction history
Building 5 LLC · 5 yrs held
Building 5 LLC
since 2021
Last sale
$1.2M
6 recorded transactions
Zoning & alternative use
CITY · Bremerton, 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 Bremerton submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Bremerton 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
$1,330,000
ML approach
$1,420,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$1.27M
Range $1.14M – $1.40M · ±10% · vs last sale $1.17M (Feb 18 2021)
Last sale anchor
$1.17M
Feb 18 2021
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
$79 / 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
$17,910
Tax year 2024
Assessed value
$2,154,060
Assessed 2024
Previous assessed
$2,539,510
-15.2% YoY
Effective rate
0.83%
On assessed value
Assessed land
$382,600
Assessed improvement
$1,771,460
Land market value
$382,600
Improvement market value
$1,771,460
Total market value
$2,154,060
Applied tax rate
60.0000
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
For Lease
Year built
1976
Heating
NONE
Stories
3
Total area
16,175 SF
Lot
1.43 ac (62,291 SF)
Zoning code
CITY
APN
3967-001-012-0108
UPID
US90-3250785
Jurisdiction
KITSAP
Zoning & alternative use
CITY · Bremerton, WAZoning CITY · permitted uses
CITY · Bremerton, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Building & site characteristics
From public records
Year built
1976
Heating
NONE
Stories
3
Lot
1.43 ac
Current owner
From public records · entity-resolved
Building 5 LLC
Entity
Mailing address
319 D ST NW STE #104, AUBURN, WA 98001-3901
Ownership since
2021
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
Feb 18, 2021
$1,170,000
Building 5 LLC
Sheila Perry
Warranty Deed
$700,000 · Timberland Bank
Aug 3, 2009
—
Perry Sheila Trust
Perry Richard & S Trust
Quit Claim Deed
related
$1,225,000 · Us Bank NA
Nov 14, 2005
$2,390,000
Perry Richard & S Trust
Mccullough,paul S & Jean M
Trustees Deed
$1,430,000 · Affinity Bank
Sep 15, 2005
—
Paul S Mccullough
Westsound Group LLC
Quit Claim Deed
related
—
Sep 1, 2005
$165,000
William W Littlejohn
Dahl Margaret R
Warranty Deed
—
—
—
Perry,sheila Trust
—
Deed Of Trust
related
$1,150,000 · Bank Of The West
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.
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