19589 Front Street NE, Poulsbo, WA 98370
- $640,000
Listing courtesy of Jae Evans Real Estate.
- List Price
- $640,000
- Status
- ACTIVE
- MLS#
- 2527088
- Days on Market
- 67
- Annual Tax Ammount
- 6878
Property Description
This property presents a rare waterfront mixed-use investment opportunity in the heart of Poulsbo. Situated on nearly half an acre, this versatile property combines immediate income potential with exceptional long-term redevelopment upside. The lower level and basement are currently configured for commercial office use, while the upper floor features a spacious and well-appointed one-bedroom, one-bath apartment with water views and private residential appeal. Positioned on an oversized waterfront parcel, the property offers significant potential for future redevelopment or repositioning to maximize highest and best use. Whether envisioned as an expanded mixed-use project, or enhanced commercial destination, the site’s size, frontage, and location create a compelling opportunity for investors and developers alike. The existing tenant structure provides stable operational efficiency, with tenants responsible for all utilities and property upkeep, excluding only minor improvements. This low-maintenance setup enhances cash flow while preserving flexibility for future plans. Tenants are currently on annual leases affording the opportunity for owner / user occupancy upon lease expiration. With its prime Front Street location, waterfront setting, flexible zoning potential, and redevelopment possibilities, 19589 Front Street stands as a unique offering in one of Kitsap County’s most desirable waterfront communities.
Additional Information
- Community
- Poulsbo
- Style
- 60 - Comm Bldg Und 10K
- Year Built
- 1900
- # of Assigned Spaces
- 4
- Waterfront
- Yes
- Waterfront Description
- Medium Bank
- Roof
- Composition
- Tax Year
- 2026
- Potential Terms
- Cash, Conventional
- Driving Directions
- From Downtown Poulsbo head west down Front St. to property on Left.
- Other Expenses
- 1500
- Energy Source
- Electric
- Net Operating Income
- $37,771
- Gross Adjusted Income
- $47,349
- Gross Scheduled Income
- $4,349
- Cap Rate
- 6
- Total Expenses
- $9,578
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