Property Details

821 Bay Street

Port Orchard, WA 98366

$670,000

Pending

CBA# 691194 courtesy of CBA Listing firm: G. Anderson Group, LLC

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I’d like more information about 821 Bay Street, Port Orchard, MLS# 691194

Office / Retail

Property Type

4,464

Bldg Sq Ft

Units

1900

Year Built

Property Overview

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 7.24%. 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 due to the current and projected growth of the area. Bay St