821-825 Bay Street

Located in the heart of Downtown Port Orchard on the very busy Bay Street.This property is a passive income lover's dream. Three residential Tenants make up the top floor and three commercial Tenants make up the bottom. Renegotiations can be discussed regarding potential longer-Term leases for the commercial Tenants and the residential Tenants consist of your typical 12-month Terms. Additionally, a new owner would receive income from 6 parking stalls at the rear of the property. Yearly expenses are kept low, which helps yield a current CAP rate of 7%. With all of the improvements coming to downtown Port Orchard over the next 5 years, a new owner would have the ability to receive the income from a fully leased out, prime location property, while potentially achieving mid to high levels of appreciation due to the current and projected growth of the area. Bay St properties rarely come to the market, especially those that are 100% Leased with tenured businesses and residential tenants. This is a must see, scenic waterfront opportunity, in one of the 10 fastest growing cities in Kitsap County. Don't miss out.