3721 Kitsap Way, Bremerton, WA 98312

$1,570,000

Listing courtesy of G Anderson Group LLC.

List Price
$1,570,000
Status
ACTIVE
MLS#
2183314
Days on Market
62

Property Description

First time in the market in almost 50 years, the Westgate Plaza on Kitsap Way in Bremerton is a two floor cash flow opportunity for any investor, 1031 exchange, and/or property owner needing a stable income stream. With only 1 vacancy, and a mixed Tenant base made up of mostly retail and office users, the property is priced at a 7.6% CAP rate, right in line with the market for the area. In addition, staggering lease expirations for the 6 current Tenants will help a new owner navigate market rates without having to worry about multiple vacancies all at once. Financials/rent roll, Leases, and maintenance reports are available once under contract.

Additional Information

Community
Oyster Bay
Building Condition
Good
Style
60 - Comm Bldg Und 10K
Year Built
1979
Roof
Flat
Potential Terms
Cash Out, Conventional
Interior Features
Ceramic Tile, Laminate, Laminate Hardwood, Laminate Tile, Wall to Wall Carpet
Flooring
Ceramic Tile, Laminate, Laminate, Laminate, Carpet
Driving Directions
Directly across the street from Mandile's Mexican restaurant on Kitsap Way. Approximately 1 mile off of Hwy 303 heading E from the hwy or approximately 1.5 miles from 6th St and N Callow intersection
Energy Source
Electric, Natural Gas
Buyer Agency Compensation
3
Net Operating Income
$119,369
Cap Rate
7.6
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