19980 10th Ave NE - Storefront Retail/Office FOR SALE


Poulsbo, WA 98370
$7,110,000 USD
206-926-9292
19980 10th Ave NE, Poulsbo, WA for Sale
$7,110,000 USD
Storefront Retail/Office - FOR SALE
1/37
null | 6.25% Cap Rate

19980 10th Ave NE
Poulsbo, WA 98370


HIGHLIGHTS

  • Town & Country Market, the top-performing store in their six-store chain, drives consistent traffic to the center, supporting tenant success.
  • 100% leased to a diverse mix of service-based retail, medical, and financial providers, catering to strong demand in the market.
  • Minimal landlord responsibilities as nearly all operating expenses are passed through to tenants.
  • Proximity to North Kitsap High School, Poulsbo Middle School, and multiple medical offices creates a strong daytime population that supports tenants.
  • 6.25% cap rate on in-place NOI with average annual rent escalations averaging 3.2% provides built-in income growth.
  • No single tenant occupies more than 20% of the center, ensuring diverse income sources. Weighted Average Lease Term (WALT) of 4.2 Years.

OVERVIEW

Central Plaza is 100% leased to a diverse mix of retail and professional tenants on NNN leases, ensuring a stable income stream with minimal landlord responsibilities. The property is strategically located in Poulsbo’s main commercial corridor, adjacent to the high-traffic Town & Country grocery anchor, benefiting from excellent visibility and accessibility. This offering presents an opportunity to acquire a well-maintained asset in a growing market at a 6.25% cap rate, with an estimated Year-1 Net Operating Income (NOI) of $444,355. The offering price of $7,110,000 ($391/SF) reflects the property’s stable cash flow, high occupancy, and upside potential through scheduled rent increases and continued market growth.

FOR SALE DETAILS

PRICE

$7,110,000 USD

PRICE/SF

$391 USD /SF

CAP RATE

6.25%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Central Plaza

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Storefront Retail/Office

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

2004

SPRINKLERS

-

PARKING SPACES

65

LAND DETAILS

LAND ACRES

1.24 AC

LAND SF

54,014 SF

ZONING

City

APN/PARCEL ID

142601-1-038-2003

ASK ABOUT THIS PROPERTY

Mike KingKidder MathewsMore Info
206-926-9292

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Mike KingKidder MathewsMore Info
206-926-9292

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.