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Listed by:Kidder Mathews • Kevin G. Verger
$ 1,860,000
Est. payment /mo
Active
22173 Viking AVE NW Poulsbo, WA 98370
2.06 Acres Lot
UPDATED:
Key Details
Property Type Commercial
Sub Type Commercial Industrial
Listing Status Active
Purchase Type For Sale
Subdivision Poulsbo
MLS Listing ID 2547297
Style 75 - Retail
Year Built 1991
Lot Size 2.060 Acres
Property Sub-Type Commercial Industrial
Property Description
Pleased to present the opportunity to acquire a 2.06 Acre Commercial Investment Property located in Poulsbo, Washington, leased to Puget Collision LLC with 7+ Years of remaining Firm-Term, on a NNN Lease through July 2033, with (2) 5-Year Extension Options. Puget Collision LLC is a rapidly expanding Collision Repair Operator that has grown from 18 to 70 locations across 6 states, under the CARSTAR and Fix Auto brands. The Lease provides 3% Annual Rent Increases on Base Rent + NNN, offering predictable income growth with minimal landlord expense exposure. The investment is further enhanced by an Executed Option and Lease Agreement with Eddy Energy LLC, a Battery Energy Storage Developer, providing up to $45,000 in Non-Refundable Option Payments over 36 months, followed by a 30-Year Energy Storage Lease with 15% Rent Escalations every 5-Years, delivering additional income from the site. Strategically positioned with direct frontage on State Route 3, the primary north-south highway connecting Poulsbo to Bremerton and the Bainbridge Island ferry, the property offers excellent visibility with 31,000+ VPD, and access within a high-traffic commercial corridor. The site benefits from proximity to Naval Base Kitsap, one of the region's largest employers, and the continued growth of Kitsap County's economy, supported by ferry-commuter demand to Seattle and a stable defense-sector employment base, further underpinning the long-term performance of the investment.
Location
State WA
County Kitsap
Area 165 - Finn Hill
Interior
Fireplace false
Building
Sewer Available
Water See Remarks
Others
Senior Community No
Acceptable Financing See Remarks
Listing Terms See Remarks
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