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    Property profile & analytics

    940 Washington St Port Townsend, WA 98368-5722

    • Office buildings
    • 1,310 SF
    • 0.11 lot acres
    OFF-MARKET
    Value Estimation
    $475,000
    Last Sale
    May 23, 2025
    $435,900
    Location Intelligence
    Property ID
    US90-2075715
    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.

    Current Use by Public Records

    • Office buildings

    Property Details for 940 Washington St

    Lot size
    0.11 lot acres
    Property size
    1,310 SF
    Zone code
    C-III
    Property type
    Office buildings
    APN
    989705706
    APU
    989705706

    Description

    This 1,311 square foot retail space at 940 Washington Street in Port Townsend, Washington, presents a compelling investment opportunity. Located in the desirable Fountain District, just one block from Water Street (the city's main thoroughfare), this property boasts high visibility and foot traffic. The building features 50 feet of street frontage, two entry doors, and two bathrooms, making it easily divisible for two separate businesses. Built in 1958, the two-story structure sits on a 0.11-acre lot (APN 989705706) and is zoned for commercial use. Included with the sale are site drawings and preliminary reports detailing the potential for a second-story expansion, which could accommodate two apartments. This presents a unique opportunity to either immediately occupy the space with your business or capitalize on the expansion potential to increase revenue streams. The asking price has been reduced, making this an even more attractive proposition for discerning investors. The property's prime location and versatile layout offer significant upside potential.

    Value Estimation

    by Realmo proprietary methodology Last update: July 3, 2025

    • AI approach

      CAP return
      Estimation
      Estimation
      $510,000

    • CAP approach

      CAP return
      Estimation
      6%
      $420,000
      6.5%
      $420,000
      7%
      $410,000

    • Comparable approach

      Method
      Estimation
      Relative Method
      $500,000
      Geo Method
      $440,000

    • Alternative Use

      Use
      Estimation
      Distribution
      $385,000
      Retail
      $455,000
      Mixed-Use
      $415,000
      Hospitality
      $340,000
      Educational
      $440,000
      Residential Income
      $390,000
      Energy
      $470,000
      Income-Based Land
      $465,000
      Food Service
      $385,000

    Location Insight

    • Map
    • Local Demand
    City
    Port Townsend
    County
    Jefferson
    State
    Washington
    Longitude
    -122.758
    Latitude
    48.1149

    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
    2023
    $3,493
    $223,513
    $165,268
    $388,781
    -
    $223,513
    $165,268
    $388,781

    Comparable in this City

    • Value Estimation by Request
      0.11 Acres

      Port

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      Port

      PROFESSIONAL BUILDING
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      18,078 SF

      2500 Sims Way

      PROFESSIONAL BUILDING • 18,078 SF
      2500 Sims Way, Port Townsend, WA 98368-2234
      View Details
    • Value Estimation
      $660,000
      2,884 SF

      Port

      PROFESSIONAL BUILDING • 2,884 SF
      Port, Townsend, WA 98368
      View Details
    • Value Estimation
      $425,000
      4,860 SF

      226 Adams St

      PROFESSIONAL BUILDING • 4,860 SF
      226 Adams St, Port Townsend, WA 98368-5706
      View Details
    • Value Estimation
      $255,000
      1,617 SF

      1036 Lawrence St

      PROFESSIONAL BUILDING • 1,617 SF
      1036 Lawrence St, Port Townsend, WA 98368-6524
      View Details

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    940 Washington St
    Port Townsend, WA 98368-5722
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    Realmo Value Estimation

    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.

    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.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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