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Active
$4,950,000
/mo   Edit
MLS# 1403664
19500 10th Ave NE
Poulsbo, WA 98370
Commercial/Industrial
4.73 acres
Built 2007
Info: 360-271-6719
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    Description:   The Fernwood Building is a commercial condominium building located in rapidly growing Kitsap County in Poulsbo. This unique offering consists of three office condominiums, leased by outstanding AAA credit rated long term tenants, that comprise 76% of the building's rentable sq ft. The tenants include Harrison Health Partners, GSA, and a property development firm. Low operating expenses and a very high quality, energy efficient building (built in 2007). Stable/guaranteed income. 6.60% CAP rate.

    Interior

    Approx. Sq Ft: 0 ft²
    Approx. Office Sq Ft: 11,928 ft²
    Approx. Whse/Mfg Sq Ft: 0 ft²
    Approx. Building Sq Ft: 12,271 ft²
    Energy Source: Electric
    Heating and Cooling: Forced Air, Heat Pump
    Floor Covering: Slate, Vinyl, Wall to Wall Carpet
    Features: Elevator, Signage Included, Sprinklered, Disabled Access

    Utilities

    Sewer: Sewer Connected

    Location

    City: Poulsbo
    State: WA
    Zip Code: 98370
    Area: 166
    County: Kitsap
    Latitude: 47.73980700
    Longitude: -122.63587300

    Building

    Year Built: 2007
    Foundation: Poured Concrete
    Roof: Composition
    Exterior: No
    Ceiling Height: 9'-0"
    Power Service in AMPS: 0

    Lot

    Depth of Lot: 0
    Boundary Survey: Y
    Lot Sq Ft: 206,039 ft²
    Lot Number: SEC 14, TWP 26

    Site

    Community Name: Poulsbo
    Number of Available Pads: 0
    General Zoning Classification: Commercial, Office
    Zoning Jurisdiction: City
    Site Frontage: 0

    Rent

    Terms: Cash Out, Conventional

    Finance & Taxes

    Homeowner Dues (monthly): $4,858
    Tax Expense: $8,310
    Electrical Expenses: 0
    Total Expenses: 66610
    Tax Year: 2019
    Gross Scheduled Income: 393311
    Vacancy Rate: 0
    Gross Adjusted Income: 393311
    Total Expenses: 66610
    Net Operating Costs: 326701
    Cap Rate -NOI div LP: 6.60

    Business

    Features: Elevator, Signage Included, Sprinklered, Disabled Access

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