3721 Kitsap Way, Bremerton, WA 98312
- $1,350,000
Listing courtesy of G Anderson Group LLC. Selling Office: eXp Realty.
- Sold Price
- $1,350,000
- List Price
- $1,570,000
- Status
- SOLD
- MLS#
- 2183314
- Closing Date
- Apr 30, 2024
- Days on Market
- 90
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.
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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, Wall to Wall Carpet, Laminate, Laminate Tile, Laminate Hardwood
- Flooring
- Ceramic Tile, 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
- Net Operating Income
- $119,369
- Cap Rate
- 7.6
Based on information submitted to the MLS GRID as of . All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.IDX information is provided exclusively for consumers’ personal noncommercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.