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Property profile & analytics
OFF-MARKET
Estimated value
$4,160,000
Medical Office Space
2512 Wheaton Way Bremerton, WA 98310-3303
Entity Owned
5-yr Hold
~
Est. High Equity
Property ID
US90-1394138
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
1959
Total area
19,792 SF
Lot
1.42 ac (61,855 SF)
Zoning code
CITY
APN
3967-002-021-0006
UPID
US90-1394138
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
Current use
Occupant on record · Public records
-
Lai Tan Physician
-
Dr. David Corley Physician
-
Dr. Roger Eagan Physician
-
Dr. Tom Yan Physician
-
Dr. John A. Banzer, MD Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$5.43M
Comparable Approach
Comparable
$3.29M
Blend (final)
Blend
$4.16M
Owner & transaction history
Lp2 Wheaton Way LLC · 5 yrs held
Lp2 Wheaton Way LLC
since 2020
Last sale
$3.5M
7 recorded transactions
Zoning & alternative use
CITY · Bremerton, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Neighborhood: shopping center
$5.1M
+5.1%
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
$5,650,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$5,875,000
6.5%
$5,425,000
7%
$5,035,000
Alternative Use
Use
Estimation
MEDICAL BUILDING
$4,805,000
Current use
NEIGHBORHOOD: SHOPPING CENTER
$5,050,000
Change: +5% · Conversion: Difficult
Blend value · Realmo final
$4.16M
Range $3.74M – $4.58M · ±10% · vs last sale $3.52M (Dec 21 2020)
Last sale anchor
$3.52M
Dec 21 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
$210 / 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
$14,663
Tax year 2024
Assessed value
$1,968,900
Assessed 2024
Previous assessed
$3,307,220
-40.5% YoY
Effective rate
0.74%
On assessed value
Assessed land
$304,290
Assessed improvement
$1,664,610
Land market value
$304,290
Improvement market value
$1,664,610
Total market value
$1,968,900
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 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
Medical Office Space
Use group
MEDICAL BUILDING
Status
Off-Market
Year built
1959
Heating
YES
Buildings
3
Stories
2
Total area
19,792 SF
Lot
1.42 ac (61,855 SF)
Zoning code
CITY
APN
3967-002-021-0006
UPID
US90-1394138
Jurisdiction
KITSAP
Zoning & alternative use
CITY · Bremerton, WA
Zoning CITY · permitted uses
CITY · Bremerton, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Bremerton. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
MEDICAL BUILDING Current
Est. value
$4.8M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$5.1M
MEDICAL BUILDING Current
NEIGHBORHOOD: SHOPPING CENTER
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
1959
Heating
YES
Stories
2
Buildings
3
Lot
1.42 ac
Current owner
From public records · entity-resolved
Lp2 Wheaton Way LLC
Entity
Mailing address
10728 NE BROOMGERRIE RD, BAINBRIDGE ISLAND, WA 98110-1900
Ownership since
2020
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
10 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 22, 2023
—
Lp2 Wheaton Way LLC
—
Deed
related
$7,785,000 · Alaska USA FCU
Dec 21, 2020
—
Lp2 Wheaton Way LLC
Wheaton Associates LLC
Quit Claim Deed
related
$2,800,000 · Waterman Ltd
Aug 8, 2018
—
Wheaton Associates LLC
—
Deed
related
$3,184,141 · Us Bk
Jul 18, 2018
—
Wheaton Associates LLC
—
Deed
related
$3,184,141 · Us Bk
Oct 2, 2008
$3,515,000
Wheaton Associates LLC
Viewmont Properties
Warranty Deed
—
—
—
Viewpoint Properties
—
Deed Of Trust
related
$1,319,500 · Kitsap Bank
—
—
Wheaton Associates LLC
—
Deed Of Trust
related
$3,450,000 · Us Bk
—
—
Viewmont Properties
—
Deed Of Trust
related
$500,000 · Kitsap Bank
—
—
Wheaton Associates LLC
—
Loan Modification
related
$3,184,141 · Us Bk
—
—
Wheaton Associates LLC
—
Loan Modification
related
$3,184,141 · Us 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.
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