500 Pacific Avenue - Bremerton, WA
500 Pacific Avenue, Bremerton, WA 98337
Rentable Bldg Area: 56,859 SF
Land Area: 16,553 SF
Pro Forma Cap Rate: 11.74%
ENERGY EFFICIENT BUILDING
The 2019 renovation enhances energy efficiency, significantly
lowering potential operating costs for this office building.
With occupancy just above 50%, this asset presents lucrative
income potential through lease-up opportunities.
The Class-A office building, surrounded by a growing, highly
educated workforce, positions itself as a top choice for both emerging and established businesses.
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.