If you’re looking for a commercial real estate investment opportunity in Poulsbo, this commercial condominium should be on your list for review! Prominently located in the 10th Avenue Commercial District, the Fernwood Building is a commercial condominium consisting of three office condos.

The three commercial condos are all currently leased by outstanding AAA credit rated tenants that include Harrison Health Partners, GSA, and a property development firm. All of these tenants have long term leases.

This unique building with stable and guaranteed income is perfect for your next real estate investment in Kitsap County!

The numbers:

  • Price: $5,227,000

  • Net Operating Income: $326,701

  • Gross Scheduled Income: $393,311

  • Gross Adjusted Income: $393,311

  • Cap Rate: 6.25%

  • Association Dues: $4,858

  • Total Expenses: $66,610

  • Other Expenses: $58,300

  • Vacancy Rate: 0%

Address: 19500 10th Ave NE, Poulsbo 98370

 

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