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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    275 Pioneer Way Oak Harbor, WA 98277-3205

    • Office buildings
    • 28,740 SF
    • 1.46 lot acres
    OFF-MARKET
    Last Sale
    Nov 05, 2021
    $3,771,000
    Value Estimations
    $3,960,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US90-2749296
    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.

    Current Use by Public Records

    • Children & Family Services / Social Service Agency / Charitable Organization
    • ATM Peoples Bank / Bank / Loan Service
    • CADA, Citizens Against Domestic & Sexual Abuse / Social Service Agency / Charitable Organization
    • Vocational Rehabilitation Services / Social Service Agency / Charitable Organization
    • Oak Harbor Community Services Office / Social Service Agency / Charitable Organization

    Property Details for 275 Pioneer Way

    Year built
    1972
    Construction
    WOOD
    Lot size
    1.46 lot acres
    Property size
    28,740 SF
    Property type
    Office buildings
    APN
    S6565-00-00B34-2
    APU
    S65650000B342

    Description

    Beach View Plaza offers a rare opportunity to lease executive office space in Oak Harbor's vibrant downtown. This Class B building boasts a total of 25,399 square feet, with 1,704 square feet currently available for lease in a multi-tenant environment. The available space provides stunning views of the bay and overlooks the city's new park, offering a unique and desirable location for businesses seeking a prestigious address. Situated in the heart of the downtown business district, this property provides excellent accessibility and visibility. The building's prime location ensures easy access to local amenities, transportation links, and a thriving professional community. The 1,704 square foot space is ideal for businesses seeking a modern and well-located office environment. This is a unique opportunity to secure a highly desirable office space in a sought-after location. Don't miss out on this chance to establish your business in a prominent and visually appealing setting within Oak Harbor's dynamic downtown core. Contact us today to schedule a viewing and explore the possibilities.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $4,070,000
      ML approach
      $4,220,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $2,395,000
      Market price range: $1.80M - $6.56M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $3,905,000
      Current use
      COMMERCIAL (GENERAL)
      $5,610,000
      Change: +44% Conversion: Easy
      RETAIL STORES
      $4,305,000
      Change: +10% Conversion: Moderate
      RESTAURANT
      $4,065,000
      Change: +4% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Oak Harbor
    County
    Island
    State
    Washington
    Longitude
    -122.654
    Latitude
    48.2871
    CBSA code
    36020
    CBSA name
    OAK HARBOR, WA MICROPOLITAN 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
    0
    $0.00
    $1,020,698
    $3,250,175
    $4,270,873
    -
    $1,020,698
    $3,250,175
    $4,270,873

    Comparable in this City

    • Value Estimation by Request
      4,274 SF

      775 Midway Blvd

      PROFESSIONAL BUILDING • 4,274 SF
      775 Midway Blvd, Oak Harbor, WA 98277-2665
      View Details
    • Value Estimation
      $1,615,000
      6,262 SF

      570 Midway Blvd

      PROFESSIONAL BUILDING • 6,262 SF
      570 Midway Blvd, Oak Harbor, WA 98277-2660
      View Details
    • Value Estimation by Request
      2,632 SF

      1670 16th Ave

      PROFESSIONAL BUILDING • 2,632 SF
      1670 16th Ave, Oak Harbor, WA 98277-8730
      View Details
    • Value Estimation
      $1,230,000
      5,298 SF

      415 Pioneer Way

      PROFESSIONAL BUILDING • 5,298 SF
      415 Pioneer Way, Oak Harbor, WA 98277-5719
      View Details
    • Value Estimation by Request
      5,285 SF

      Oak Harbor, WA 98277

      PROFESSIONAL BUILDING • 5,285 SF
      Oak Harbor, WA 98277
      View Details
    • Value Estimation
      $740,000
      5,161 SF

      32885 State Rte 20

      PROFESSIONAL BUILDING • 5,161 SF
      32885 State Rte 20, Oak Harbor, WA 98277-2672
      View Details

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    Similar Nearby for Lease

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    Oak Harbor, WA 98277-3205
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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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