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    3929 Kitsap Way Bremerton, WA 98312-2451
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    Property profile & analytics

    3929 Kitsap Way, Bremerton, WA 98312-2451

    View on Map
    • Drug stores
    • 14,406 SF
    • 1.45 lot acres
    Off-Market
    Property ID
    US90-0682190
    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.
    Value Estimations
    $2,445,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Walgreens Photo / (Bike/Boat/Book/etc) Store
    • Blink Charging Station / Electric Vehicle Charging Station
    • COVID-19 Drive-Thru Testing at Walgreens / Medical Laboratory
    • Gas Service / Gas Company
    • Redbox / Cinema / (Bike/Boat/Book/etc) Store

    Property Details for 3929 Kitsap Way

    Year built
    2009
    Lot size
    1.45 lot acres
    Zone code
    CITY
    Property type
    Drug stores
    APN
    3783-008-012-0006
    APU
    37830080120006

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Jul 28, 2021 — Cie Washington LLC — Deed · related $3.5M · American United Life Insurance Company
    Jul 2, 2012 $6,750,000 Barrett Ltd Wb Capital Partners III LLC Warranty Deed —
    Sep 20, 2011 — Wb Capital Partners III LLC Wag Group LLC Warranty Deed · related —
    Jun 15, 2011 $6,225,000 Wag Group LLC Kitsap Retail Partners LLC Warranty Deed $4.4M · Wells Fargo Bank
    Dec 4, 2008 — Kitsap Retail Partners LLC — Trustees Deed · related $4.5M · Intervest Mortgage Co LLC
    Aug 5, 2008 — Dora Partners LLC Kitsap Retail Partners LLC Quit Claim Deed · related —

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $2,785,000
      6.5%
      $2,570,000
      7%
      $2,385,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $2,469,000
      Market price range: $802k - $2.47M

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $2,730,000
      Current use
      NEIGHBORHOOD: SHOPPING CENTER
      $3,675,000
      Change: +35% Conversion: Moderate
      MEDICAL BUILDING
      $3,500,000
      Change: +28% Conversion: Difficult
      OFFICE BUILDING
      $2,715,000
      Change: -1% Conversion: Easy
      AUTO REPAIR, GARAGE
      $2,585,000
      Change: -5% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Bremerton
    County
    Kitsap
    State
    Washington
    Longitude
    -122.667
    Latitude
    47.5677
    CBSA code
    14740
    CBSA name
    BREMERTON-SILVERDALE, WA METROPOLITAN 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
    2024
    $48,833
    $407,130
    $5,332,620
    $5,739,750
    -
    $407,130
    $5,332,620
    $5,739,750

    Comparable in this City

    • Value Estimation
      $2,845,000
      17,052 SF

      3506 Kitsap Way

      RETAIL STORES (PERSONAL SERVICES)
      3506 Kitsap Way, Bremerton, WA 98312-2640
      View Details
    • Value Estimation by Request
      2,550 SF

      340 Callow Ave

      RETAIL STORES (PERSONAL SERVICES)
      340 Callow Ave, Bremerton, WA 98312
      View Details
    • Value Estimation
      $7,615,000
      45,339 SF

      900 Callow Ave

      GROCERY, SUPERMARKET
      900 Callow Ave, Bremerton, WA 98312-3807
      View Details
    • Value Estimation
      $520,000
      1,992 SF

      2716 15th St

      RETAIL STORES (PERSONAL SERVICES)
      2716 15th St, Bremerton, WA 98312-3044
      View Details
    • Value Estimation
      $4,005,000
      24,440 SF

      5353 Auto Ctr Way

      RETAIL STORES (PERSONAL SERVICES)
      5353 Auto Ctr Way, Bremerton, WA 98312
      View Details
    • Value Estimation
      $1,125,000
      5,688 SF

      4930 Kitsap Way

      RETAIL STORES (PERSONAL SERVICES)
      4930 Kitsap Way, Bremerton, WA 98312-2351
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      17,272 SF

      Freestanding Retail Building on Kitsap

      Freestanding retail building with high visibility and traffic.
      4117 Kitsap Way, Bremerton, WA 98312
      View Details
    • Contact for pricing
      2,100 SF

      Retail Space in Bremerton

      Retail space available for rent in Bremerton, Washington.
      301 N Callow Ave, Bremerton, WA 98312
      View Details
    • Contact for pricing

      Callow Avenue Commercial Building For Sale

      Commercial building on Callow Avenue with many potential uses.
      347 N Callow Ave, Bremerton, WA 98312
      View Details
    • $1,590,000

      Bremerton Commercial Building on Kitsap

      Commercial building in Bremerton with ample parking and Kitsap Way frontage.
      3421 Kitsap Way, Bremerton, WA 98312
      View Details
    • $1,450,000
      10,800 SF

      Prime Bremerton Land for Development

      1.38-acre lot near Puget Sound Naval Shipyard and ferry.
      937 Callow Ave, Bremerton, WA 98312
      View Details
    • $1,699,000
      187,308 SF

      Bremerton Commercial Land Opportunity

      Prime commercial land in Bremerton, WA, ideal for retail.
      3536 Arsenal Way, Bremerton, WA 98312
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      17,272 SF

      Freestanding Building on Kitsap Way

      Freestanding building with high visibility and access on Kitsap Way.
      4117 Kitsap Way, Bremerton, WA 98312
      View Details
    • $25 SF/Yr

      Bremerton Retail/Office Space Available

      Retail/Office space for lease in West Bremerton submarket.
      5373 Auto Center Way, Bremerton, WA 98312
      View Details
    • $2,947 /Mo
      2,210 SF

      High-Traffic Retail Space Available

      Retail space with high visibility and parking in Bremerton.
      301 Callow Ave, Bremerton, WA 98312
      View Details
    • Contact for pricing
      5,592 SF

      Highway 162 Showroom/Office Space

      5,592 SF showroom/office with fenced yard, available now.
      4001 State Highway 3 W, Bremerton, WA 98312
      View Details
    • Contact for pricing
      2,507 SF

      Retail Space Available For Rent

      Retail space available for lease in Bremerton, Washington.
      4305 Kitsap Way, Bremerton, WA 98312
      View Details
    • $473 /Mo
      405 SF

      Retail Space off Kitsap Way

      Retail space with ample parking and signage off Kitsap Way.
      3421 Kitsap Way, Bremerton, WA 98312
      View Details

    Property Visit Statistics

    • Visits by month
      25.4k
    • Visitors by month
      14.6k
    • Avg Time on site
      14 min
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    Bremerton, WA 98312-2451
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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.

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