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Listed by:G Anderson Group LLC • Gary Anderson

$670,000

Est. payment - /mo

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9,583 Sqft Lot

Pending

821 Bay St Port Orchard, WA 98366

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Ryan Born

ryan@born-realty.com +1(206) 498-0342

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Key Details

Property Type Commercial

Sub Type Commercial Industrial

Listing Status Pending

Purchase Type For Sale

Subdivision Port Orchard

MLS Listing ID 2322533

Style 60 - Comm Bldg Und 10K

Year Built 1900

Annual Tax Amount $5,640

Lot Size 9,583 Sqft

Property Sub-Type Commercial Industrial

Property Description

This property is a passive income lover's dream. Three residential Tenants make up the top floor and three commercial Tenants make up the bottom. Renegotiations can be discussed regarding potential longer-Term leases for the commercial Tenants and the residential Tenants consist of your typical 12 month Terms. Additionally, a new owner would receive income from 6 parking stalls at the rear of the property. Yearly expenses are kept low, which helps yield a current CAP rate over 8%. With all of the improvements coming to downtown Port Orchard over the next 5 years, a new owner would have the ability to receive the income from a fully leased out, prime location property, while potentially achieving mid to high levels of appreciation.

Location

State WA

County Kitsap

Area 143 - Port Orchard

Interior

Flooring Hardwood

Fireplace false

Exterior

Exterior Feature Wood

Waterfront Description Sound

Roof Type Composition

Building

Sewer Sewer Connected

Water Public

Others

Senior Community No

Acceptable Financing Cash

Listing Terms Cash

"Three Trees" icon indicates a listing provided courtesy of NWMLS.

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