Executive Summary Offered at $9.2M

Transcription

1 Executive Summary Offered at $9.2M ROYAL COMMERCIAL CORP 611 Market Street Suite 8 Kirkland WA

2 Table of Contents 1. Executive Summary The Offering Investment Highlights Location Aerial 2. Property Description Property Profile Site Plan Structure Information 3. City of Poulsbo Location Overview/Drive Times Demographics Special Projects For more information: Matthew Royal (206) ROYAL COMMERCIAL CORP 611 Market Street Suite 8 Kirkland WA

3 Executive Summary THE OFFERING Royal Commercial Corp has been retained to exclusively market the Campus/Retreat for sale located in scenic Poulsbo, Washington on the Kitsap Peninsula. The 16,748 square foot, six-building, educational facility (currently) is conveniently located just off State Highway 305 which offers easy access to downtown Poulsbo and Silverdale, as well as both the Kingston-Edmonds ferry and the Bainbridge Island-Seattle ferry. The Campus/ Retreat is currently used as a vocational school, but is zoned to accommodate a variety of uses. Poulsbo has a population of approximately 9,775 and is a thriving community that attracts many tourists each year with many annual ethnic events as well as year round. The city offers a beautiful and vibrant historic downtown area with rosemaled storefronts, many shopping areas, beautiful parks including a boardwalk, and three marinas. Poulsbo also enjoys gorgeous panoramic views of Liberty Bay and the snow peaked Olympic Mountains. PROPERTY OVERVIEW Property Campus / Retreat Type Educational Services Gross Building Area 16,748 SF Age 1962, 2003, & 2010 Condition Good The north end of the Kitsap Peninsula is part of a thriving economy which includes Hansville, Port Gamble, Poulsbo, Silverdale, Kingston, and many more. Water transportation is dominant in the culture and economy of the county, although other forms of transportation are easily and readily available as well. Kitsap County is one of the smallest counties in the state in terms of land area at about 395 square miles; however it ranks third in the state in terms of population density/persons per square mile. Parking Land Area Zoning Ample, Gravel Acres RR Rural Residential

4 INVESTMENT HIGHLIGHTS Quality Improvements and Recent Upgrades The current owner has invested over $1 million in capital improvements including new roofs, new well, new electrical, and an advanced water storage system for sprinklers. Irreplaceable Location Campus/Retreat is conveniently located just off of State Highway 305. The site provides easy access to downtown Poulsbo, the Suquamish Clearwater Casino, the Kingston- Edmonds ferry, and the Bainbridge Island-Seattle ferry. There is an abundance of retail, dining, and tourist amenities nearby. Zoning Currently zoned Rural Residential (RR) which allows for a wide variety of uses, including residential, commercial, recreational, institutional, and resource land uses. This includes uses such as: day-care center, nursery, civic/social club, bed and breakfast, veterinary clinic/animal hospital, kennel, place of worship, private or public schools, and agricultural uses.

5 Location Aerial Port of Poulsbo Downtown Poulsbo Poulsbo Yacht Club Liberty Bay Marina Liberty Bay Nesika Bay

6 Property Description ROYAL COMMERCIAL CORP 611 Market Street Suite 8 Kirkland WA

7 ISLAND Profile PROPERTY OVERVIEW Property Address Creative Drive NE Poulsbo, WA Parcel Number GPS Coordinates Latitude: N Longitude: W Site Area AC / 1,160,438 SF # of Buildings Six (6) Zoning RR Rural Residential

8 Site Plan Structure 1 Structure 4 Structure 2 Structure 5 Structure 3 Structure 6 **

9 Structure Information Structure 1 Structure 2 Structure 3 Total Building SF 3,720 Total Building SF 3,682 Total Building SF 8,599 Year Built 2003 Year Built 2010 Year Built 1962 Year Renovated Year Renovated Year Renovated Sprinklers None Sprinklers Yes Sprinklers None Construction Type Construction Type Construction Type Brick Roof Composition Roof Composition Roof Composition Foundation Foundation Foundation A/C Yes A/C Yes A/C Yes Security System Security System Security System **Structures 4, 5, and 6 are garden/utility sheds.

10 City of Poulsbo ROYAL COMMERCIAL CORP 611 Market Street Suite 8 Kirkland WA

11 Location Overview CLIMATE AMOUNT LOCATION AMOUNT Avg Max. Temp 75 F County Kitsap Avg Low Temp 34 F Avg Annual Precipitation 51.6 Avg Annual Snowfall 7.8 Sunny Days 155 Land (sq. miles) 4.67 Shoreline (miles) 3.93 Known As Viking City Year Incorporated 1908 FIPS Code Time Zone Pacific Property Location Unincorporated Poulsbo

12 Drive Times COMMUTE Avg commute time Distance from the Bainbridge Island Ferry AMOUNT 27.4 minutes 12 miles Kingston Edmonds Ferry 10 Puget Sound Naval Shipyard 17 Keyport 4 Silverdale 11 Bremerton 18

13 Demographics PEOPLE AMOUNT LIVING AMOUNT 2014 Population 9,775 Persons per sq mile 2,093 Living in Same House 1 Year & Over Homeownership Rate, % 66.7% White 82.9% Median Household Income $58,975 Black or African American 1.1% Median Value of Owner Occupied Houses $283,600 Asian 5.7% Average Sale Price $319,543 American Indian or Alaska Native 0.9% Average Sale Price/sqft $160 Hispanic or Latino 9.2% Owner-occupied housing units 66.7% One Race 95.1% Family Households 59.5% Two Or More Races 4.9% Households w/ individuals under % Median Age (years) 42.9 Households w/ individuals 65 years and over 30.8%

14 Demographics continued AGE PERCENT HOUSE- HOLD PERCENT 75 and older 7% 7 or more persons 1.20% 65 to 74 15% 6 persons 2% 50 to 64 15% 40 to 49 13% 5 persons 5.40% 30 to 39 15% 4 persons 13.50% 20 to 29 9% 3 persons 15.40% 15 to 19 5% 2 persons 38.10% 5 to 14 14% Under 5 yrs 7% 1 person 24.40%

15 Special Projects Lodging Tax Grant Program T h e C i t y a c c e p t s p r o p o s a l s f r o m v a r i o u s g r o u p s a n d o r g a n i z a t i o n s f o r u s e o f t h e 4 % l o d g i n g t a x f o r p r o j e c t s r e l a t e d t o t h e c o s t o f t o u r i s m p r o m o t i o n, a c q u i s i t i o n o f t o u r i s m - r e l a t e d f a c i l i t i e s, o r o p e r a t i o n o f t o u r i s m - r e l a t e d e v e n t s a n d f a c i l i t i e s. Tax Incentives W a s h i n g t o n S t a t e d o e s n o t : h a v e a p e r s o n a l o r c o r p o r a t e i n c o m e t a x ; h a v e a n i n v e n t o r y t a x ; i m p o s e a t a x o n i n t a n g i b l e a s s e t s ( b a n k a c c o u n t s, s t o c k s o r b o n d s ) a s s e s s a n y t a x o n r e t i r e m e n t i n c o m e e a r n e d a n d r e c e i v e d f r o m a n - o t h e r s t a t e A d d i t i o n a l l y, K i t s a p C o u n t y p r o v i d e s r e l o c a t i n g a n d e x p a n d i n g c o m p a - n i e s i n c e n t i v e s t h a t p r o v i d e a s s i s t a n c e w i t h t h o s e e f f o r t s. Largest public fiber-optic backbone in United States K i t s a p i s p a r t o f t h e N o a N e t n o n p r o f i t o p e n a c c e s s b r o a d b a n d n e t w o r k b r i n g i n g h i g h - s p e e d t e l e c o m m u n i c a t i o n s t o t h e a r e a c o m m u n i t i e s. Economic Development K i t s a p C o u n t y r a n k s h i g h i n e s s e n t i a l e c o n o m i c d e v e l o p m e n t i n d i c a t o r s : e d u c a t i o n a l a t t a i n m e n t a n d s k i l l e d w o r k f o r c e, d e v e l o p m e n t o f i n t e l l e c - t u a l p r o p e r t y, p e r c a p i t a e c o n o m i c o u t p u t, a n d m e d i a n h o u s e h o l d i n - c o m e s.

16 For more information: Matthew Royal (206) ROYAL COMMERCIAL CORP 611 Market Street Suite 8 Kirkland WA