Back to Search
Property profile & analytics
FOR SALE
Office buildings
5002 Kitsap Way Bremerton, WA 98312
Individually Owned
8-yr Hold
~
Est. High Equity
Property ID
US90-0166222
For Sale
$1,900,000
5002 Kitsap Way, Bremerton, WA 98312
View Listing →
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1984
Total area
11,592 SF
Lot
0.91 ac (39,640 SF)
Zoning code
CITY
APN
162401-4-012-2007
UPID
US90-0166222
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
-
Corrections Department Bremerton Office Government Office
-
Copeland Sidney S Foster Care Service Social Service Agency
-
Lyn R. Green, LMHC Counselor
-
Vanilla Bean Photography Photography Service (Bike/Boat/Book/etc) Store
-
Combs Bonnie H Registered General Nurse
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.78M
Blend (final)
Blend
$1.52M
Owner & transaction history
Holly Ridge Center · 8 yrs held
Holly Ridge Center
since 2018
5 recorded transactions
Zoning & alternative use
CITY · Bremerton, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$2.2M
+0.7%
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%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$2,185,000
Current use
RETAIL STORES
$2,200,000
Change: +1% · Conversion: Moderate
AUTO REPAIR, GARAGE
$2,080,000
Change: -5% · Conversion: Difficult
Blend value · Realmo final
$1.52M
Range $1.36M – $1.67M · ±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
$131 / 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
$12,887
Tax year 2024
Assessed value
$1,514,660
Assessed 2024
Previous assessed
$1,514,660
+0.0% YoY
Effective rate
0.85%
On assessed value
Assessed land
$118,150
Assessed improvement
$1,396,510
Land market value
$118,150
Improvement market value
$1,396,510
Total market value
$1,514,660
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
Office buildings
Use group
OFFICE BUILDING
Status
For Sale
Year built
1984
Heating
YES
Stories
2
Bathrooms
5
Total area
11,592 SF
Lot
0.91 ac (39,640 SF)
Zoning code
CITY
APN
162401-4-012-2007
UPID
US90-0166222
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
$2.2M
RETAIL STORES
Est. value
$2.2M
AUTO REPAIR, GARAGE
Est. value
$2.1M
OFFICE BUILDING Current
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
1984
Heating
YES
Stories
2
Bathrooms
5
Lot
0.91 ac
Current owner
From public records · entity-resolved
Holly Ridge Center
Individual
Mailing address
5112 NW TAYLOR RD, BREMERTON, WA 98312-8837
Mailing matches property
Yes
Owner-occupied
Yes
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
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 2, 2018
$657,540
Holly Ridge Center
Schourup,william E & Bonnie J
Grant Deed
$675,000 · Wells Fargo Bk
—
—
William E Schourup
—
Deed Of Trust
related
$798,047 · Kitsap Bank
—
—
William E Schourup
—
Deed Of Trust
related
$1,100,000 · Kitsap Community FCU
—
—
William E Schourup
—
Deed Of Trust
related
$1,056,000 · Kitsap Bank
—
—
William E Schourup
—
Deed Of Trust
related
$973,763 · Kitsap FCU
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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
