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19735 10th Ave NE
Poulsbo, WA 98370
Liberty Center · Retail Property For Sale
INVESTMENT HIGHLIGHTS
- Current in-place rents are significantly below current market levels, offering upside as leases are renewed or new tenants backfill available spaces
- The Property’s layout and parcel configuration allows for future repositioning or individual asset disposition strategies, increasing exit optionality
- The property features longstanding tenants, with recent renewals with regional and national tenants KeyBank and John L. Scott
- The return metrics produce a 6.24% cap rate on the as-is NOI; 8.05% stabilized return on cost
EXECUTIVE SUMMARY
Liberty Center is an 82% leased community and service-oriented retail investment opportunity in Poulsbo’s premier commercial corridor, featuring dominant Highway 305 exposure, plentiful dedicated parking, and a diverse and well-established tenant roster. Recent lease renewals with prominent tenants, such as John L. Scott and KeyBank, underscore the Property’s ongoing income stability and upside potential. Liberty Center’s exceptional combination of stable cash flow, leasing and rental upside, strategic location, and robust consumer base makes it an outstanding opportunity for investors targeting durable returns and future value growth in the Pacific Northwest.
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Property Subtype
Storefront Retail/Office
Building Size
29,921 SF
Building Class
C
Year Built
1991
Price
$9,853,128 CAD
Price Per SF
$329.30 CAD
Cap Rate
6.45%
NOI
$635,796 CAD
Percent Leased
82%
Tenancy
Multiple
Building Height
2 Stories
Building FAR
0.34
Lot Size
2.03 AC
Zoning
CITY - C-3 SR 305 Corridor
Parking
119 Spaces (3.98 Spaces per 1,000 SF Leased)
Frontage
157’ on 10th Ave
AMENITIES
- Corner Lot
- Freeway Visibility
- Signage
- Drive Thru
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $8,661,216 CAD | |
| Land Assessment | $1,321,938 CAD | Total Assessment | $9,983,154 CAD |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$1,321,938 CAD
Improvements Assessment
$8,661,216 CAD
Total Assessment
$9,983,154 CAD
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