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Property profile & analytics
OFF-MARKET
Estimated value
$6,000,000
Office buildings
253 5th St Bremerton, WA 98337
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US90-0166060
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1948
Total area
26,739 SF
Lot
0.28 ac (12,197 SF)
Zoning code
CITY
APN
3718-006-033-0104
UPID
US90-0166060
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
$6.00M
CAP Approach
CAP
$6.26M
Comparable Approach
Comparable
$6.26M
Blend (final)
Blend
$6.00M
Owner & transaction history
Emerald Pnw LLC · 2 yrs held
Emerald Pnw LLC
since 2024
Last sale
$6.0M
6 recorded transactions
Zoning & alternative use
CITY · Bremerton, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$9.5M
+88.5%
Neighborhood: shopping center
$6.8M
+35.5%
Medical building
$6.5M
+28.9%
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
$6,000,000
ML approach
$6,000,000
CAP Approach
CAP Return
Estimation
6%
$6,775,000
6.5%
$6,255,000
7%
$5,810,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$5,035,000
Current use
RESTAURANT
$9,490,000
Change: +88% · Conversion: Moderate
NEIGHBORHOOD: SHOPPING CENTER
$6,820,000
Change: +35% · Conversion: Difficult
MEDICAL BUILDING
$6,490,000
Change: +29% · Conversion: Easy
RETAIL STORES
$5,070,000
Change: +1% · Conversion: Moderate
AUTO REPAIR, GARAGE
$4,795,000
Change: -5% · Conversion: Difficult
Blend value · Realmo final
$6.00M
Range $5.40M – $6.60M · ±10% · vs last sale $6.00M (Feb 2 2024)
Last sale anchor
$6.00M
Feb 2 2024
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
$224 / 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
$34,532
Tax year 2024
Assessed value
$4,058,830
Assessed 2024
Previous assessed
$4,058,830
+0.0% YoY
Effective rate
0.85%
On assessed value
Assessed land
$146,140
Assessed improvement
$3,912,690
Land market value
$146,140
Improvement market value
$3,912,690
Total market value
$4,058,830
Applied tax rate
10.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
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
Off-Market
Year built
1948
Heating
YES
Buildings
2
Stories
2
Total area
26,739 SF
Lot
0.28 ac (12,197 SF)
Zoning code
CITY
APN
3718-006-033-0104
UPID
US90-0166060
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
OFFICE BUILDING Current
Est. value
$5.0M
RESTAURANT
Est. value
$9.5M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$6.8M
MEDICAL BUILDING
Est. value
$6.5M
RETAIL STORES
Est. value
$5.1M
AUTO REPAIR, GARAGE
Est. value
$4.8M
OFFICE BUILDING Current
RESTAURANT
NEIGHBORHOOD: SHOPPING CENTER
MEDICAL BUILDING
RETAIL STORES
AUTO REPAIR, GARAGE
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
1948
Heating
YES
Stories
2
Buildings
2
Lot
0.28 ac
Current owner
From public records · entity-resolved
Emerald Pnw LLC
Entity
Mailing address
546 10TH AVE W, KIRKLAND, WA 98033-4839
Ownership since
2024
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 2, 2024
$6,000,000
Emerald Pnw LLC
Fifth Street Hilltop Partners LLC
Warranty Deed
$2,500,000 · Fifth Street Hilltop Partners LLC
Jul 17, 2017
—
Fifth Street Hilltop Ptrs LLC
—
Deed
related
$3,617,500 · Kitsap Bk
Feb 27, 2009
$412,500
Fifth Street Hilltop Ptrs LLC
Robinson,james H & Audrey M
Warranty Deed
$507,000 · Bank Of America
Feb 27, 2009
—
Fifth Street Hilltop Ptrs LLC
Berni,george A & Gretchen C
Warranty Deed
related
—
—
—
Fifth Street Hilltop Ptrs LLC
—
Deed Of Trust
related
$4,048,507 · Bank Of America
—
—
Fifth Street Hilltop Ptrs LLC
—
Deed Of Trust
related
$3,617,500 · Kitsap 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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