New Listing
Cap Rate
7.00%
Offering Price
$2,995,000
Year Built
1889
Building Size
14,130 SF
Price Per SF
$212/SF
Type
For Sale
Status
New Listing
Location
Port Townsend, WA

Investment Highlights

7% cap rate on current rents – 6% cash-on-cash return – 25% down likely possible

Strong tenant base with low turnover: Three of the 10 apartment residents have occupied their spaces for 5+ years and four of the retail tenants have occupied their spaces for 10+ years

Terrific exposure due to the property’s prominent corner location on Port Townsend’s central commercial corridor

Trophy, pride-of-ownership property: Elegant Victorian-era structure with lovely aesthetic elements

Port Townsend boasts a thriving local economy and a robust tourism industry

Located within an Opportunity Zone

Property Summary

Offering Price
$2,995,000
CAP Rate
7.00%
Year Built
1889
Building Size
14,130 SF
Price Per SF
$212/SF
Address
940 Water St, Port Townsend, WA, 98368

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