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    4494 SE Mile Hill Dr Port Orchard, WA 98366
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    4494 SE Mile Hill Dr, Port Orchard, WA 98366

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    • Commercial real estate
    • 4.84 lot acres
    For Sale
    $2,600,000
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    Kitsap County Investment Opportunity For Sale
    $2,600,000
    2,867 SF

    Kitsap County Investment Opportunity

    7.26-acre commercial land with income potential in Kitsap County.

    4494 SE Mile Hill Dr, Port Orchard, WA 98366
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    Property ID
    US90-0043261
    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
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Commercial real estate

    Property Details for 4494 SE Mile Hill Dr

    Lot size
    4.84 lot acres
    Property type
    Commercial real estate
    APN
    31240210142001

    Description

    This exceptional 4.84-acre (210,830 sq ft) commercial land parcel presents a remarkable investment opportunity in Port Orchard, Washington. Located in Kitsap County at 4494 SE Mile Hill Dr, zip code 98366, this property boasts a prime location adjacent to "The District" shopping center, offering excellent visibility and accessibility. The land consists of two level parcels zoned Commercial (R30), providing flexibility for a wide range of commercial developments. Permitted uses include various commercial ventures, multi-family housing, and residential construction. The existing house on the property is considered a tear-down, allowing for complete customization of the site. The APN is 31240210142001. This property is priced at $1,950,000 and offers significant potential for future growth and return on investment. Its strategic location and versatile zoning make it an ideal choice for developers seeking a high-impact project in a thriving community. The latitude and longitude coordinates are 47.532973, -122.592894 respectively. Don't miss this chance to acquire a substantial piece of commercial real estate in a desirable location.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Port Orchard
    County
    Kitsap
    State
    Washington
    Longitude
    -122.592894
    Latitude
    47.532973

    Comparable in this City

    • Contact for pricing

      Mixed-Use Development Opportunity

      Mixed-use property in downtown Port Orchard with development potential.
      110 Bethel Ave, Port Orchard, WA 98366
      View Details
    • Contact for pricing
      1,718 SF

      Development Opportunity in Prime Location

      1.92 acres in Port Orchard with income potential.
      2143-2153 Bethel Ave SE, Port Orchard, WA 98366
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    • $1,600,000
      187,744 SF

      Prime Commercial Land Opportunity

      Premier real estate in thriving business corridor with high visibility.
      1110 Bethel Ave, Port Orchard, WA 98366
      View Details
    • $249,000

      Port Orchard Commercial Land Opportunity

      Commercial land in Port Orchard's growing district, suitable for various uses.
      1612 SE Sylvis Ln, Port Orchard, WA 98366
      View Details
    • $3,500,000
      18 SF

      Large Parcel in Opportunity Zone

      Large Port Orchard parcel for residential/commercial development in Opportunity Zone.
      2200 Bethel Ave, Port Orchard, WA 98366
      View Details

    Similar Nearby for Sale

    • $2,900,000
      804,553 SF

      18.47 Acre Mixed-Use Parcel

      Commercial mixed-use parcel in Opportunity Zone for sale.
      2200 Bethel Ave, Port Orchard, WA 98366
      View Details
    • Contact for pricing
      Pending

      Waterfront Land with Sunrise Views

      Waterfront land ready for development with beautiful sunrise views.
      8415 SE Southworth Dr, Port Orchard, WA 98366
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      Commercial Land in Port Orchard

      8.27-acre commercial land with development potential in growing area.
      3922 Bethel Rd SE, Port Orchard, WA 98366
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      Port Orchard Acreage Building Site

      1.14-acre wooded parcel near Port Orchard amenities.
      1356 3Rd St, Port Orchard, WA 98366
      View Details
    • Contact for pricing

      Mixed-Use Development Opportunity

      Mixed-use property in downtown Port Orchard with development potential.
      110 Bethel Ave, Port Orchard, WA 98366
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      16,553 SF

      Cleared Land Ready for Lease

      Cleared site available for ground lease or build to suit.
      6435 SE Mile Hill Dr, Port Orchard, WA 98366
      View Details
    • Contact for pricing

      Port Orchard Development Opportunity

      0.49 acre development pad in bustling retail district.
      1640 SE Mile Hill Dr, Port Orchard, WA 98366
      View Details
    • Contact for pricing

      Waterfront Building in Port Orchard

      Two-story, 5,540 SF building with downtown mixed-use zoning.
      901 Bay St, Port Orchard, WA 98366
      View Details
    • Contact for pricing
      1,216 SF

      Retail Space Near Fred Meyer

      Retail space available near SE Sedgwick Rd and Bethel Rd SE.
      1900 SE Sedgwick Rd, Port Orchard, WA 98366
      View Details
    • $4,350 /Mo
      3,480 SF

      Flexible Commercial Building with Parking

      3,480 SF commercial building suitable for various business uses.
      4560 Mile Hill Dr, Port Orchard, WA 98366
      View Details
    • Contact for pricing
      1,500 SF

      Retail Space in Port Orchard

      Retail space available at Tremont Place, Port Orchard.
      1382 SE Lund Ave, Port Orchard, WA 98366
      View Details
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    Port Orchard, WA 98366
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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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