For Sale
$1,550,000

20307 Viking Ave Poulsbo, WA 98370

Poulsbo Office Building, High Cap Rate

Overview

Added:
Dec 11, 2024
Days on market:
127
This exceptional two-story, 8,375 square foot office building in Poulsbo, WA, presents a compelling investment opportunity. Located at 20307 Viking Ave NW, this property boasts a prime location at a busy intersection, offering excellent visibility and accessibility. Built in 1980 and meticulously maintained, the building features six office suites, catering to a diverse tenant mix including chiropractic, dental, and other professional services. Ample parking is provided with 49 spaces across two lots, complemented by attractive landscaping. The C-2 zoning allows for flexibility in future uses. The building offers a 3.62% cap rate, with potential for expansion, and is priced at $1,550,000. Comparable properties in the area have sold for significantly higher prices, indicating strong growth potential. The 1.02-acre lot provides ample space, and the building's timeless design and functional layout create a welcoming and productive work environment. This is a rare opportunity to acquire a well-established, income-producing property in a thriving Kitsap County location. The building's strong tenant base and convenient amenities make it an attractive investment for both seasoned and new investors. The property's history of consistent occupancy and its strategic location contribute to its strong financial performance and future prospects. This is a turn-key operation ready for immediate income generation.

Highlights

  • Strong investment opportunity: Comparable Silverdale properties sold for $4.1M, offering a 3.62% cap rate with potential for 7%.
  • High-traffic location: 8,375 SF building at the corner of Viking Ave NW and NW Finn Hill Rd, well-maintained since 1980.
  • Efficient layout: Six office suites over two levels, lower-level parking, attractive foyer, and shared amenities.
  • Diverse tenant base: Occupied by chiropractic, acupuncture, massage, dental, photography, and co-working businesses.
  • Abundant parking: Two lots provide 49 spacious parking stalls and landscaped grounds.
  • Flexible zoning: C-2 zoning (City of Poulsbo) allows for diverse business uses and future expansion.

Property Details for 20307 Viking Ave

Property type
Office properties, Mixed-use properties
Square Feet
8,375 SF
Year Built
1980
Buildings
1
Stories
2
Lot Size (sq. ft)
44,431 SF

Location Insight

City
Poulsbo
County
Kitsap
State
Washington
Latitude
47.7473626
Longitude
-122.6557298
20307 Viking Ave, Poulsbo, Washington

FAQs

What type of property is this?
Office property - Poulsbo Office Building, High Cap Rate
Where is the office property located?
The property is located at 20307 Viking Ave Poulsbo, WA.
What is the asking price?
The asking price for this property is $1,550,000.
What are key features of this property?
This property features: Strong investment opportunity: Comparable Silverdale properties sold for $4.1M, offering a 3.62% cap rate with potential for 7%.; High-traffic location: 8,375 SF building at the corner of Viking Ave NW and NW Finn Hill Rd, well-maintained since 1980.; Efficient layout: Six office suites over two levels, lower-level parking, attractive foyer, and shared amenities.
How can I contact the broker?
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20307 Viking Ave
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