Hunter Investments
Listed by Hunter Investments
$5,200,000
Fernwood Office Investment
Details
Property Type Office, Business for Sale
Sub Type Executive Office, Medical Office
Square Footage 12,333
Units 5
Cap Rate 8.67%
NOI $451,000
Occupancy 100%
Tenancy Multi
Brand/Tenant GSA, United Health Care
Lease Type NNN
Rent Bumps Yes
Price per SqFt $422
Broker Co-Op Yes
Class A
Year Built 2007
Year Renovated 2025
Buildings 1
Stories 2
Acreage 4.730
Zoning C-3 Poulsbo
Parking Spaces 20 spaces
Parking per 1,000 SqFt 1.62
Investment Type Owner/User
Tenant Credit Credit Rated, Corporate Guarantee
Ground Lease No
Fernwood Building is a 100% occupied, Class A office investment in Poulsbo, Washington,
Marketing description
The Fernwood Building presents an exceptional investment opportunity, offering a Class A office condominium with a strong financial profile and strategic location. With a current asking price of $5,200,000, the property boasts 100% occupancy across its 12,333 net rentable square feet. Built in 2007, the property features a modern design, central lobby core, elevator, and durable steel and wood frame construction, complemented by cedar shake exterior siding and reserved underground parking, ensuring both aesthetic appeal and operational efficiency. The current Net Operating Income (NOI) stands at $450,000 with a solid roster of tenants. Yielding an attractive current Cap Rate of 8.0% + the property is priced to sell.
Investment highlights
- Strong Financial Outlook: The Fernwood Building benefits from 100% occupancy and a solid, growing Net Operating Income, indicating strong financial health and increasing returns.
- Premium Property in a Desirable Area: This is a Class A office building, featuring modern design and durable construction, located in Poulsbo, Washington, a "charming waterfront town" with good access to regional hubs.
- Reliable Tenant Mix: The property boasts a stable and diverse tenant base, anchored by a major government tenant (GSA) with a long-term lease, ensuring consistent income streams and built-in rent growth opportunities
- Voting majority in condo association
Listing Contacts
Hunter Investments
Listed by Hunter Investments
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$451,000.00
$37,583.33/mo
Valuation Metrics
0
DSCR
8.67%
Cap Rate
8.67%
ROI
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Property History
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