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Bremerton Station 4321 Wheaton Way 177,639 SF 81% Leased Retail Building Bremerton, WA 98310 $18,925,000 ($106.54/SF) 5.45% Cap Rate

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Executive Summary

MAJ Commercial Real Estate is excited to present the opportunity to acquire a Multi- Tenant NNN Lease Investment located in Bremerton,
WA. The property is leased to Wilco, Floor & Décor, Grocery Outlet, and Planet Fitness, all offering long-term stability with national
and regional brand recognition. Bremerton Station is strategically positioned along Wheaton Way (State Route 303) and NE Riddell
Road, one of the city’s major thoroughfares with approximately 80,744 vehicles per day at the intersection. The center benefits from
strong nearby anchors and a dense residential population, with convenient access to Downtown Bremerton, the Puget Sound Naval
Shipyard, and ferry services to Seattle.

Property Facts

Sale Type
Investment NNN
Property Type
Retail
Building Size
177,639 SF
Building Class
A
Year Built/Renovated
1966/2017
Price
$18,925,000
Price Per SF
$106.54
Cap Rate
5.45%
NOI
$1,031,797
Percent Leased
81%
Tenancy
Multiple
Building Height
1 Story
Loading Docks
2 Exterior
Building FAR
0.39
Lot Size
10.38 AC
Zoning
CITY
Parking
450 Spaces (2.53 Spaces per 1,000 SF Leased)
Frontage
402’ on Riddell Rd

Amenities

  • Pylon Sign

Major Tenants

  • Tenant
  • Industry
  • SF Occupied
  • Rent/SF
  • Lease Type
  • Lease End
  • Retailer
  • 55,045 SF
  • -
  • Triple Net
  • Apr 2039

Floor & Decor began in 2000 as a specialty retailer focusing on hard-surface flooring options. The company provides tile, natural stone, hardwood, laminate, and vinyl flooring products. They also offer decorative materials and installation accessories. Serving homeowners, contractors, and commercial clients, Floor & Decor operates numerous large-format warehouse stores nationwide. The business emphasizes extensive inventory and low pricing for its customers. Over the years, they've expanded their market presence through new store openings while maintaining their core flooring specialty.

  • Retailer
  • 23,885 SF
  • -
  • Triple Net
  • Apr 2036

Grocery Outlet Holding Corp. is an American discount grocery retailer founded in 1946 by James Read in San Francisco, California. The company operates a network of independently owned and operated stores under the Grocery Outlet Bargain Market banner. Its business model focuses on opportunistic purchasing of surplus, overstock, and closeout products from major manufacturers, allowing customers to save 40–70% compared to conventional retail prices. As of late 2025, the company operates over 535 stores across 16 states, with California being its largest market. The Campbell location serves the South Bay area, offering groceries, fresh produce, frozen foods, health and beauty products, and household essentials at significant discounts.

  • Arts, Entertainment, and Recreation
  • 23,000 SF
  • -
  • Triple Net
  • Jan 2030

Planet Fitness is a public fitness center franchisor and operator headquartered in Hampton, New Hampshire. The company was founded in 1992 and operates within the health and fitness industry, focusing on affordable gym memberships and standardized club formats. Planet Fitness develops, franchises, and operates branded fitness centers that provide cardio, circuit training, and strength equipment, as well as limited in-club instruction. The company’s business model is centered on franchising, with most locations operated by independent franchisees rather than corporate ownership. Planet Fitness supports franchise operations through centralized brand management, equipment sourcing, marketing, and operational systems. Over time, the brand has expanded its footprint beyond the United States into select international markets. Planet Fitness became a publicly traded company in 2015 and is listed on the New York Stock Exchange under the ticker symbol PLNT. In 2024, the company experienced a leadership transition with the appointment of a new chief executive officer. Planet Fitness has also continued to refine its club formats and equipment offerings to support a broader range of fitness preferences. From a real estate perspective, Planet Fitness locations typically occupy large-format retail, power center, or freestanding spaces, with an emphasis on visibility, parking availability, and flexible interior layouts suited to fitness equipment and member circulation.

  • Retailer
  • 37,000 SF
  • -
  • Triple Net
  • May 2033

The largest agricultural supply cooperative in the Pacific Northwest. With over 3000 grower-members and over 100,000 customers, Wilco's been in business with Retail Farm Stores, Bulk Fuel Services, and Agronomy services since 1967. Wilco has a strong commitment to the Wilco Core Values and local communities. They strive to be a progressive and innovative coop in the great Pacific Northwest. With Agronomy Centers, Farm Stores, and Bulk Petroleum, they are here to help with everyone's agriculture needs. Wilco serves consumers as well as growers through 26 locations including 18 Farm Stores carrying everything from fencing and feed to pet supplies and work clothing. Their full-service agronomy centers serve major grower/farmers in the northwest with consulting services, crop protection, and crop nutrients through a team of highly skilled full-time agronomists.

Tenant Industry SF Occupied Rent/SF Lease Type Lease End
Retailer 55,045 SF - Triple Net Apr 2039
Retailer 23,885 SF - Triple Net Apr 2036
Arts, Entertainment, and Recreation 23,000 SF - Triple Net Jan 2030
Retailer 37,000 SF - Triple Net May 2033

Nearby Major Retailers

Starbucks
Fred Meyer
Chase Bank
WaFd Bank
Shari's Cafe & Pies
Bank of America
Snap Fitness 24/7
Timberline Cross Fit
Rent-A-Center
United Rentals

Property Taxes

Property Taxes

Parcel Number
012401-2-182-2002
Land Assessment
$1,433,950
Improvements Assessment
$8,615,090
Total Assessment
$10,049,040
  • Listing ID: 38327030

  • Date on Market: 11/4/2025

  • Last Updated:

  • Address: 4321 Wheaton Way, Bremerton, WA 98310

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