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Bremerton Station 4321 Wheaton Way 177,639 SF 81% Leased Retail Building Bremerton, WA 98310 $18,495,000 ($104.12/SF) 5.58% Cap Rate



Executive Summary
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
Amenities
- Pylon Sign
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease Type
- Lease End
Floor & Decor began in 2000 as a specialty retailer of hard-surface flooring and related products. The company offers tile, wood, laminate, vinyl, and natural stone, along with installation materials, decorative accessories, tools, and wall tile. Floor & Decor serves homeowners and professional contractors through a multi-channel business model that includes retail and commercial flooring distribution. The business has built a broad U.S. market presence around warehouse-style selection and everyday low prices.
Grocery Outlet began in 1946 in San Francisco as a closeout-focused food business founded by Jim Read. Grocery Outlet operates through a network of independently operated stores built around opportunistic buying and local store operators. The company sells quality, name-brand consumables and fresh products across grocery, produce, refrigerated and frozen foods, beer and wine, fresh meat, and household basics, with continued expansion and store activity across the United States.
Planet Fitness began in 1992 in Dover, New Hampshire, where the company started as a local gym before evolving into a broader fitness concept. The business built its model around a low-cost, non-intimidating environment known as the Judgement Free Zone, aimed at making gym use more accessible to casual and first-time exercisers. Today, Planet Fitness operates as a major franchisor and operator of fitness centers, with clubs across the United States and several other markets, and it supports members through club access, digital workouts, and app-based tools. The company offers cardio and strength equipment, membership tiers, and free fitness instruction through small-group training programs.
Wilco traces its roots to Oregon farm cooperatives that began in the 1930s, and the modern cooperative took shape in 1967 through a merger of several local groups. Wilco serves farmer-owners and customers through farm stores, agribusiness support, and fuel services, with a business model built around supplies, expertise, and member ownership. Wilco continues to focus on agriculture and rural lifestyles across the Pacific Northwest while operating as a member-owned cooperative with retail and service divisions.
| 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
Property Taxes
| Parcel Number | 012401-2-182-2002 | Improvements Assessment | $8,615,090 |
| Land Assessment | $1,433,950 | Total Assessment | $10,049,040 |
