CAP Rate: 6.50%
Net Operating Income: $355,290
Lot Size: 1.79 AC
Year Built: 2000
The subject offering is a fee simple interest in a leased Walgreens. The lease expires in October of 2027 and calls for minimal landlord obligations. The subject property is well situated on a major commercial thoroughfare, surrounded by major national retailers.
Port Orchard is a city in and the county seat of Kitsap County, Washington, United States. It is located 13 miles due west of West Seattle and connected to Seattle and Vashon Island via the Washington State Ferries run to Southworth. It is named after Port Orchard, the strait that separates Bainbridge Island from the Kitsap Peninsula. The population was 11,144 at the 2010 census. The Washington State Office of Financial Management’s 2015 estimate placed the population at 13,607.