18978 Front Street NE, Poulsbo, WA 98370
- $1,375,000
Listing courtesy of Better Properties Gig Harbor.
- List Price
- $1,375,000
- Status
- ACTIVE
- MLS#
- 2528829
- Price Change
- ▲ $75,000 1779825022
- Days on Market
- 39
- Annual Tax Ammount
- 4152
- Internet Provider
- Comcast
Property Description
Grab this rare opportunity to own a piece of local History! The Hostmark building is a true classic. As the oldest building in Downtown, it is in all of the local history books as well as part of the Historic Downtown Poulsbo Association. Built by Adolf Hostmark, who traveled here from Norway in the 1880s, It was originally a General store and Post office. He literally rowed a boat to Seattle for supplies! This fully renovated, turnkey, mixed-use building in the heart of historic downtown Poulsbo is perfectly blended with edgy commercial appeal on the lower level, with a serene professional wellness space above. This property features high foot traffic and excellent income potential. The Hostmark building has all long-term tenants (several over a decade) with successful businesses. With a flat roof and unblockable view, there could be many potential ways to expand. Rooftop bar? Outdoor Yoga? Maybe add a whole new story. Poulsbo generates massive downtown foot traffic and is a major tourist destination in Washington as it's only Scandinavian town. With two separate entrances for the top and bottom businesses, it almost seems like two separate buildings. With over 2500 sq ft. the possibilities are endless.
Additional Information
- Community
- Poulsbo
- Style
- 60 - Comm Bldg Und 10K
- Year Built
- 1908
- Roof
- Flat
- Tax Year
- 2025
- Potential Terms
- Cash, Conventional
- Flooring
- Laminate, Vinyl Plank, Carpet
- Driving Directions
- Hwy 3 to Finn Hill to R on Front St. Building is on corner of Front and Jensen.
- Electric Expenses
- 2725
- Other Expenses
- 1178
- Energy Source
- Electric
- Net Operating Income
- $68,561
- Gross Scheduled Income
- $86,580
- Water/Sewer/Garbage Expenses
- $3,622
- Cap Rate
- 5
- Total Expenses
- $18,019
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