821 Bay St Active Save Request In-Person Tour Request Virtual Tour
Port Orchard,WA 98366
Key Details
Property Type Commercial
Sub Type Commercial Industrial
Listing Status Active
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 of 7%. 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
Exterior
Exterior Feature Wood
Waterfront Description Sound
Roof Type Composition
Building
Sewer Sewer Connected
Water Public
Others
Acceptable Financing Cash Out
Listing Terms Cash Out