This feature is unavailable at the moment.

We apologize, but the feature you are trying to access is currently unavailable. We are aware of this issue and our team is working hard to resolve the matter.

Please check back in a few minutes. We apologize for the inconvenience.

- LoopNet Team

You must register your contact information to view secure information on this listing.
You must register your contact information to view secure information on this listing.

Share This Listing

Please enter a valid email address.

Note: To send this property to multiple individuals, insert a semi-colon between each recipient's email address.

LoopNet has taken a strong stance against the practice of sending unsolicited commercial emails, also known as "spam." Please send these emails only to people you know who would be interested in this property. If someone asks you not to send these emails to them, please comply.

thank you

Your email has been sent!

Bethel Corridor Place 2465 Bethel Ave

8,658 SF 100% Leased Office Building Port Orchard, WA 98366 £1,222,950 (£141/SF) 5.34% Net Initial Yield

Investment Highlights

  • 100% Leased Property
  • Set on one of the busiest roads in Port Orchard
  • Abundant Parking

Executive Summary

One of the most pristine office buildings in Port Orchard is hitting the market for the first time since it was built in 2005. The list of features for this property is endless: 100% leased, abundance of parking, sprinkled, highly visible on one of the busiest roads in Port Orchard, no deferred maintenance, shared conference room, shared men's/women's bathrooms on each floor, parking access at both sides of the building, etc. Currently, each Tenant is in the midst of short-term, Full-Service Gross Leases, which enables a new owner a large upside in converting the Leases to NNN and locking in longer terms, yielding a Pro Forma CAP of 8.4%. Last but not least, the estimated replacement cost for a building of this stature would be more than DOUBLE the listed asking price. This high-quality investment opportunity will not last long. Current and Pro Forma Rent Rolls available upon request.

Financial Summary (Pro forma - 2024)

Annual Annual Per SF
Gross Rental Income £164,904 £19.05
Other Income - -
Vacancy Loss - -
Effective Gross Income £164,904 £19.05
Taxes - -
Operating Expenses - -
Total Expenses £54,101 £6.25
Net Operating Income £110,803 £12.80

Financial Summary (Pro forma - 2024)

Gross Rental Income
Annual £164,904
Annual Per SF £19.05
Other Income
Annual -
Annual Per SF -
Vacancy Loss
Annual -
Annual Per SF -
Effective Gross Income
Annual £164,904
Annual Per SF £19.05
Taxes
Annual -
Annual Per SF -
Operating Expenses
Annual -
Annual Per SF -
Total Expenses
Annual £54,101
Annual Per SF £6.25
Net Operating Income
Annual £110,803
Annual Per SF £12.80

Property Facts

Sale Type
Investment
Property Type
Office
Building Size
8,658 SF
Building Class
B
Year Built
2005
Price
£1,222,950
Price Per SF
£141
Net Initial Yield
5.34%
NOI
£65,295
Percent Leased
100%
Tenancy
Multiple
Number of Floors
2
Typical Floor Size
4,329 SF
Slab to Slab
9 ft
Building FAR
0.41
Land Acres
0.48 AC
Opportunity Zone
Yes
Zoning
CITY - Commercial Mixed Use
Parking
26 Spaces (3 Spaces per 1,000 SF Leased)

Amenities

  • Conferencing Facility
  • Property Manager on Site
  • Signage
  • Kitchen
  • Reception
  • Central Heating
  • DDA Compliant
  • Lift Access
  • Natural Light
  • Partitioned Offices
  • Monument Signage
  • Air Conditioning

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
362401-3-007-2002
Land Assessment
£150,162 (2025)
Improvements Assessment
£1,109,547 (2025)
Total Assessment
£1,259,709 (2025)
  • Listing ID: 32971838

  • Date on Market: 27/08/2024

  • Last Updated:

  • Address: 2465 Bethel Ave, Port Orchard, WA 98366

Please Share Your Feedback

We welcome any feedback on how we can improve LoopNet to better serve your needs.
X
{{ getErrorText(feedbackForm.starRating, 'rating') }}
255 character limit ({{ remainingChars() }} characters remainingover)
{{ getErrorText(feedbackForm.msg, 'rating') }}
{{ getErrorText(feedbackForm.fname, 'first name') }}
{{ getErrorText(feedbackForm.lname, 'last name') }}
{{ getErrorText(feedbackForm.phone, 'phone number') }}
{{ getErrorText(feedbackForm.phonex, 'phone extension') }}
{{ getErrorText(feedbackForm.email, 'email address') }}