top of page
Bremerton Business Park - Bremerton, WA

Bremerton Business Park - Bremerton, WA

$4,295,000.00Price

Address: 5943 - 5959 State Highway 303 NE, Bremerton, WA 98311

Rentable SF: 23,354 SF

Total Land Area: 2.25 Acres (98,445 SF)

Pro Forma Cap Rate: 7.43%

 

 

 

Click For Marketing Package

  • Investment Highlights

    SIGNIFICANT RENTAL UPSIDE 

    The Bremerton Business Park’s inplace
    lease rates average nearly 19%
    below market providing significant
    value add potential.

    EXCELLENT PARKING RATIO 

    The asset features 89 full size
    parking stalls, offering a parking
    ratio of 3.7 stalls per 1,000 SF,
    catering to a diverse set of business
    operations.

    HIGH BARRIERS TO ENTRY

    There is only 200,000 square feet of
    competing product in the Bremerton
    market and no ongoing development.
    There will be continued rent growth
    due to the flexible floor plans with
    multiple grade level doors.

    MAJOR NEARBY DEVELOPMENT

    Over 1,000 housing units have been
    added to the Highway 303 corridor in
    the past 2 years, with another 300+
    under construction or proposed,
    further boosting service-related
    expenditures in the area.

  • Investment Overview

    THE VARA GROUP is pleased to present an
    exceptional investment offering in Bremerton, WA.
    The Bremerton Business Park is a 100% leased light
    industrial/flex property with a diverse tenant profile.
    The property boasts a strong historical occupancy
    record, with the service-centered tenants benefiting
    from the rapid commercial and residential growth
    along the Highway 303 corridor.


    The offering features two well-maintained buildings
    made of concrete block and tilt-up construction,
    ensuring minimal near-term capital expenditures.
    Offering both short and long-term value-add
    potential, the Bremerton Business Park allows
    investors to capitalize on the limited inventory in the
    Central Bremerton submarket.


    Recent improvements to Naval Base Kitsap and
    anticipated zoning reforms in and around the city
    continue to drive demand for quality industrial
    spaces. The submarket’s steady historical rent
    growth positions this asset as a prime value-add
    investment opportunity in the heart of Kitsap
    County.

bottom of page