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Executive Summary

MAJ Commercial Real Estate is excited to present the opportunity to acquire a Multi- Tenant NNN Lease Investment located in Bremerton,
WA. The property is leased to Wilco, Floor & Décor, Grocery Outlet, and Planet Fitness, all offering long-term stability with national
and regional brand recognition. Bremerton Station is strategically positioned along Wheaton Way (State Route 303) and NE Riddell
Road, one of the city’s major thoroughfares with approximately 80,744 vehicles per day at the intersection. The center benefits from
strong nearby anchors and a dense residential population, with convenient access to Downtown Bremerton, the Puget Sound Naval
Shipyard, and ferry services to Seattle.

Property Facts

Sale Type
Investment NNN
Property Type
Retail
Building Size
177,639 SF
Building Class
A
Year Built/Renovated
1966/2017
Price
$26,050,021 CAD
Price Per SF
$146.65 CAD
Cap Rate
5.58%
NOI
$1,453,275 CAD
Percent Leased
81%
Tenancy
Multiple
Building Height
1 Story
Loading Docks
2 Exterior
Building FAR
0.39
Lot Size
10.38 AC
Zoning
CITY
Parking
450 Spaces (2.53 Spaces per 1,000 SF Leased)
Frontage
402’ on Riddell Rd

Amenities

  • Pylon Sign

Major Tenants

  • Tenant
  • Industry
  • SF Occupied
  • Rent/SF
  • Lease Type
  • Lease End
  • Retailer
  • 55,045 SF
  • -
  • Triple Net
  • Apr 2039

Floor & Decor began in 2000 as a specialty retailer focusing on hard-surface flooring options. The company provides tile, natural stone, hardwood, laminate, and vinyl flooring products. They also offer decorative materials and installation accessories. Serving homeowners, contractors, and commercial clients, Floor & Decor operates numerous large-format warehouse stores nationwide. The business emphasizes extensive inventory and low pricing for its customers. Over the years, they've expanded their market presence through new store openings while maintaining their core flooring specialty.

  • Retailer
  • 23,885 SF
  • -
  • Triple Net
  • Apr 2036

Grocery Outlet Holding Corp. is an American discount grocery retailer founded in 1946 by James Read in San Francisco, California. The company operates a network of independently owned and operated stores under the Grocery Outlet Bargain Market banner. Its business model focuses on opportunistic purchasing of surplus, overstock, and closeout products from major manufacturers, allowing customers to save 40–70% compared to conventional retail prices. As of late 2025, the company operates over 535 stores across 16 states, with California being its largest market. The Campbell location serves the South Bay area, offering groceries, fresh produce, frozen foods, health and beauty products, and household essentials at significant discounts.

  • Arts, Entertainment, and Recreation
  • 23,000 SF
  • -
  • Triple Net
  • Jan 2030

Planet Fitness began in 1992 in Dover, New Hampshire, where the company started as a local gym before evolving into a broader fitness concept. The business built its model around a low-cost, non-intimidating environment known as the Judgement Free Zone, aimed at making gym use more accessible to casual and first-time exercisers. Today, Planet Fitness operates as a major franchisor and operator of fitness centers, with clubs across the United States and several other markets, and it supports members through club access, digital workouts, and app-based tools. The company offers cardio and strength equipment, membership tiers, and free fitness instruction through small-group training programs.

  • Retailer
  • 37,000 SF
  • -
  • Triple Net
  • May 2033

Wilco traces its roots to Oregon farm cooperatives that began in the 1930s, and the modern cooperative took shape in 1967 through a merger of several local groups. Wilco serves farmer-owners and customers through farm stores, agribusiness support, and fuel services, with a business model built around supplies, expertise, and member ownership. Wilco continues to focus on agriculture and rural lifestyles across the Pacific Northwest while operating as a member-owned cooperative with retail and service divisions.

Tenant Industry SF Occupied Rent/SF Lease Type Lease End
Retailer 55,045 SF - Triple Net Apr 2039
Retailer 23,885 SF - Triple Net Apr 2036
Arts, Entertainment, and Recreation 23,000 SF - Triple Net Jan 2030
Retailer 37,000 SF - Triple Net May 2033
Fairly walkable
50/100
Exceptionally drivable
100/100
Limited public transit
30/100
Fairly bikeable
40/100

Nearby Major Retailers

Starbucks
Fred Meyer
Snap Fitness 24/7
Chase
Bank of America
WaFd Bank
Shari's Cafe & Pies
Dutch Bros
Rent-A-Center
United Rentals

Property Taxes

Property Taxes

Parcel Number
012401-2-182-2002
Land Assessment
$2,010,972 CAD
Improvements Assessment
$12,081,802 CAD
Total Assessment
$14,092,774 CAD
  • Listing ID: 38327030

  • Date on Market: 2025-11-04

  • Last Updated:

  • Address: 4321 Wheaton Way, Bremerton, WA 98310

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