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Office Warehouse

Bremerton Business Park

5959 WA-303, Bremerton, WA 98311

Listing Price: $4,349,000

Cap Rate
5.65%
Gross SF
23,746
Price/Gross SF
$183.15
Lot Size
2.26 acres
Year Built
1993
Rentable SF
23,746

Investment Overview

The Leibsohn Vara Group is pleased to present an outstanding investment sale offering in Bremerton, Washington. The Bremerton Business Park is a fully stabilized and 100% leased light industrial / flex property located within the growth corridor of busy Highway 303. This well maintained and versatile two building business park has an excellent and diverse tenant mix and a strong historical occupancy history. The property is perfectly positioned to capitalize on future rental growth as the surrounding commercial and residential development continues its excellent momentum. The Bremerton Business Park investment offering provides the savvy investor a rare mid-sized opportunity to purchase a fully stabilized and diversified asset with great in-place cash flow and a promising future of improving rent growth within a strong Seattle area market.

Investment Highlights

  • Versatile Buildings: The property consists of two separate buildings built to accommodate a wide range of uses from industrial to office.
  • Great Access: Bremerton Business Park is easily accessed via private drive directly on Highway 303 with average daily traffic counts of 35,303.
  • Excellent Parking: With over 3.5 full size parking stalls per each 1,000 rentable s.f., the property benefits from well above average parking.
  • Flexible Space Plans: The building layouts and construction elements including 6 roll up doors and two dock high loading platforms provides excellent leasing flexibility.
  • Low maintenance: This well maintained property features concrete tilt and concrete block construction and a roof replacement in 2017 allowing for reduced capital expenditures, repairs and maintenance.
  • Rental Upside Potential: The Bremerton Business Park lease rate average is approximately 10% below the market average and up to 30% lower than some direct property competitors.
  • Growth Market: Bremerton is experiencing excellent growth from the Bremerton Naval Shipyard and multiple large employment generators leading to a wave of new residential and commercial developments.
  • Located In A Tax-free State: Washington State does not have income tax.

Exclusively Listed By

Office Warehouse

Bremerton Business Park

Listing Price: $4,349,000

Cap Rate
5.65%
Gross SF
23,746
Price/Gross SF
$183.15
Lot Size
2.26 acres
Year Built
1993
Rentable SF
23,746

Investment Highlights

  • Versatile Buildings: The property consists of two separate buildings built to accommodate a wide range of uses from industrial to office.
  • Great Access: Bremerton Business Park is easily accessed via private drive directly on Highway 303 with average daily traffic counts of 35,303.
  • Excellent Parking: With over 3.5 full size parking stalls per each 1,000 rentable s.f., the property benefits from well above average parking.
  • Flexible Space Plans: The building layouts and construction elements including 6 roll up doors and two dock high loading platforms provides excellent leasing flexibility.
  • Low maintenance: This well maintained property features concrete tilt and concrete block construction and a roof replacement in 2017 allowing for reduced capital expenditures, repairs and maintenance.
  • Rental Upside Potential: The Bremerton Business Park lease rate average is approximately 10% below the market average and up to 30% lower than some direct property competitors.
  • Growth Market: Bremerton is experiencing excellent growth from the Bremerton Naval Shipyard and multiple large employment generators leading to a wave of new residential and commercial developments.
  • Located In A Tax-free State: Washington State does not have income tax.

Investment Overview

The Leibsohn Vara Group is pleased to present an outstanding investment sale offering in Bremerton, Washington. The Bremerton Business Park is a fully stabilized and 100% leased light industrial / flex property located within the growth corridor of busy Highway 303. This well maintained and versatile two building business park has an excellent and diverse tenant mix and a strong historical occupancy history. The property is perfectly positioned to capitalize on future rental growth as the surrounding commercial and residential development continues its excellent momentum. The Bremerton Business Park investment offering provides the savvy investor a rare mid-sized opportunity to purchase a fully stabilized and diversified asset with great in-place cash flow and a promising future of improving rent growth within a strong Seattle area market.

Exclusively Listed By

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