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Property profile & analytics
FOR SALE
Investment properties

844 Water St Port Townsend, WA 98368

12,508 SF 0.14 ac lot
Entity Owned 1-yr Hold Absentee Owner Free & Clear
Property ID
US90-1870199
No photos on file
For Sale
$2,100,000 12,508 SF
844 Water St, Port Townsend, WA 98368
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Property profile
Verified
Property type Investment properties
Use group OFFICE/RESIDENTIAL (MIXED USE)
Total area 12,508 SF
Lot 0.14 ac (6,098 SF)
Zoning code C-III
APN 989704108
UPID US90-1870199
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
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
$1.45M
CAP Approach CAP
by Request
Comparable Approach Comparable
$1.08M
Blend (final) Blend
$1.48M
Owner & transaction history
Metis Group LLC · 1 yrs held
Metis Group LLC
since 2025
Last sale
$1.5M
4 recorded transactions
2025
$1.5M
2021
$1.8M
2012
Price N/A
2004
Price N/A
Zoning & alternative use
C-III · Port Townsend, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description

multifamily residential properties outside the C-III historic commercial district that are being developed, redeveloped, or expanded shall be reduced by two spaces for each on -street parking space provided adjacent to a site. The design, placement, and proposed construction standard of on -street parking spaces will be reviewed and approved by the public wo…

Zone name Historic Commercial
General category COMMERCIAL
Zone area 24.20 ac
Top alternative use upside
Retail stores $2.0M +68.5%
Restaurant $1.9M +56.2%
Office building $1.6M +35.4%
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
More about this property
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