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Property profile & analytics
OFF-MARKET
Estimated value
$2,845,000
Retail space
3506 Kitsap Way, Bremerton, WA 98312-2640
Individually Owned
8-yr Hold
~
Est. High Equity
Property ID
US90-0951715
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1944
Total area
17,052 SF
Lot
3.29 ac (143,312 SF)
Zoning code
CITY
APN
152401-2-088-2001
UPID
US90-0951715
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
-
Ag Supply Ace Hardware Building Supply Hardware & Home Improvement
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$3.04M
Comparable Approach
Comparable
$2.92M
Blend (final)
Blend
$2.85M
Owner & transaction history
Ralph Erickson · 8 yrs held
Ralph Erickson
since 2018
2 recorded transactions
Zoning & alternative use
CITY · Bremerton, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Neighborhood: shopping center
$4.4M
+34.5%
Medical building
$4.1M
+28.0%
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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$3,295,000
6.5%
$3,040,000
7%
$2,825,000
Alternative Use
Use
Estimation
RETAIL STORES
$3,235,000
Current use
NEIGHBORHOOD: SHOPPING CENTER
$4,350,000
Change: +35% · Conversion: Moderate
MEDICAL BUILDING
$4,140,000
Change: +28% · Conversion: Difficult
OFFICE BUILDING
$3,210,000
Change: -1% · Conversion: Easy
AUTO REPAIR, GARAGE
$3,055,000
Change: -5% · Conversion: Difficult
Blend value · Realmo final
$2.85M
Range $2.56M – $3.13M · ±10%
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
$167 / 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
$38,971
Tax year 2024
Assessed value
$4,580,600
Assessed 2024
Previous assessed
$4,080,480
+12.3% YoY
Effective rate
0.85%
On assessed value
Assessed land
$588,420
Assessed improvement
$3,992,180
Land market value
$588,420
Improvement market value
$3,992,180
Total market value
$4,580,600
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
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
1944
Heating
YES
Buildings
3
Stories
1
Total area
17,052 SF
Lot
3.29 ac (143,312 SF)
Zoning code
CITY
APN
152401-2-088-2001
UPID
US90-0951715
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
RETAIL STORES Current
Est. value
$3.2M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$4.4M
MEDICAL BUILDING
Est. value
$4.1M
OFFICE BUILDING
Est. value
$3.2M
AUTO REPAIR, GARAGE
Est. value
$3.1M
RETAIL STORES Current
NEIGHBORHOOD: SHOPPING CENTER
MEDICAL BUILDING
OFFICE BUILDING
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
1944
Heating
YES
Stories
1
Buildings
3
Lot
3.29 ac
Current owner
From public records · entity-resolved
Ralph Erickson
Individual
Mailing address
PO BOX 4039, BREMERTON, WA 98312-0039
Ownership since
2018
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 17, 2018
—
Ralph Erickson
Erickson,ralph & Susan
Quit Claim Deed
related
—
—
—
Timkath
—
Deed Of Trust
related
$1,250,000 · Us Bank NA
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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