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18978 Front St 2,318 SF 100% Leased Retail Building Poulsbo, WA 98370 $1,894,942 CAD ($817.49 CAD/SF) 5% Cap Rate
Investment Highlights
- Heavy foot traffic day and night
Executive Summary
Grab this rare opportunity to own a piece of local History! The Hostmark building is a true classic. As the oldest building in Downtown, it is in all of the local history books as well as part of the Historic Downtown Poulsbo Association. Built by Adolf Hostmark, who traveled here from Norway in the 1880s, It was originally a General store and Post office. He literally rowed a boat to Seattle for supplies! This fully renovated, turnkey, mixed-use building in the heart of historic downtown Poulsbo is perfectly blended with edgy commercial appeal on the lower level, with a serene professional wellness space above. This property features high foot traffic and excellent income potential. The Hostmark building has all long-term tenants (several over a decade) with successful businesses. With a flat roof and unblockable view, there could be many potential ways to expand. Rooftop bar? Outdoor Yoga? Maybe add a whole new story. Poulsbo generates massive downtown foot traffic and is a major tourist destination in Washington as it's only Scandinavian town. With two separate entrances for the top and bottom businesses, it almost seems like two separate buildings. With over 2500 sq ft. the possibilities are endless.
Property Facts
Sale Type
Investment or Owner User
Property Type
Retail
Property Subtype
Building Size
2,318 SF
Building Class
C
Year Built
1908
Price
$1,894,942 CAD
Price Per SF
$817.49 CAD
Cap Rate
5%
NOI
$94,747 CAD
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Building FAR
0.89
Lot Size
0.06 AC
Zoning
CITY
Parking
3 Spaces (1.29 Spaces per 1,000 SF Leased)
Frontage
26’ on Front St St
Moderately walkable
60/100
Exceptionally drivable
90/100
Limited public transit
30/100
Fairly bikeable
40/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 4223-000-005-00-08 | Improvements Assessment | $419,983 CAD |
| Land Assessment | $203,509 CAD | Total Assessment | $623,492 CAD |
Property Taxes
Parcel Number
4223-000-005-00-08
Land Assessment
$203,509 CAD
Improvements Assessment
$419,983 CAD
Total Assessment
$623,492 CAD
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18978 Front St
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