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500 Pacific Avenue - Bremerton, WA

500 Pacific Avenue - Bremerton, WA

$8,490,000.00Price
500 Pacific Avenue, Bremerton, WA 98337
Rentable Bldg Area:  56,859 SF
Land Area: 16,553 SF
Pro Forma Cap Rate: 11.74%
 
 
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  • Investment Highlights

    ENERGY EFFICIENT BUILDING

    The 2019 renovation enhances energy efficiency, significantly
    lowering potential operating costs for this office building.

    VALLUE-ADD POTENTIAL

    With occupancy just above 50%, this asset presents lucrative
    income potential through lease-up opportunities.

    SKILLED WORKFORCE

    The Class-A office building, surrounded by a growing, highly
    educated workforce, positions itself as a top choice for both emerging and established businesses.

     

  • Investment Overview

    The Vara Group is pleased to present the sale offering for 500 Pacific Ave, a well-located and versatile office property in Bremerton, WA. The 500 Pacific Ave building stands out as a premier office asset situated in the heart of the Bremerton
    Central Business District (CBD). Included in the offering, in addition to the 21 divisible suites, is a covered 82-stall condominium parking garage generating additional income, for a total of 96 on-site parking stalls.


    Recognized for its energy-conscious design and impeccable architecture, this Class A office building has become a staple of the downtown landscape following the 2019 $3 million renovation
    conducted by Rice Fergus Miller. With operational costs significantly minimized, this property offers investors a distinctive and cost-effective entry into a rapidly expanding submarket.

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