22173 Viking Ave NW
Poulsbo WA 98370
22173 Viking Avenue NW
22173 Viking Ave NW Poulsbo WA 98370
Listing #: 714669 | Status: Available | Last Modified: 6/30/2026 |
For Sale
- Phone:(206) 946-9425
- Email:kevin.verger@kidder.com
- Office Name:Kidder Mathews
- Office Phone:(208) 362-8600
- Office Website:
- Agent Phone:(206) 600-8500
- Agent Email:Maggie.verger@kidder.com
- Call Listing AgentNo
- Use DiscretionNo
- Listing Price$ 1,860,000.0
- $/SF$ 283.5
- Listing StatusAvailable
- Days on Market11
- Asset ClassRetail, Industrial
- Terms
- Investment Type
- Min Total SF0
- Max Total SF0
- Lease Rate Low$ 00.0
- Lease Rate High$ 00.0
- Heat Source
- Total Units
- Water
- Electricity
- Storm Sewer
- SignageSignage on Building and Freestanding
- Anchor
- Dock High Doors
- Semi-Dock Doors
- Grade Level Door Count
- Crane Count
- Crane Count
- Crane Tonnage0
- Clearance Height Min
- Clearance Height Max
- Bay Depth
- Second Road Front
- Grade Level Door Count
- Tennant Improvement Allowance
- Building StatusExisting
- # of Buildings2
- # of Floors1
- # of Units
- # of Elevators
- Clearance Height Min
- Clearance Height Max
- Bay Depth
- Total Building SF6560
- Net Rentable Area6560
- Total Office SF
- Largest Contiguous SF
- Lot SF133294
- Acres3.06
- Property TypeIndustrial
- Office Type
- Building Class
- CountyKitsap
- Vicinity
- Location Description
- Second Address
- Cross Street
- Market AreaPoulsbo
- Tax ID #102601-1-010-2009
- Additional Parcels10260110102009
- ZoningLI
- Year Built1991
- Year Renovated
- Completion Date
- Roof Type
- Construction Type
Fix Auto
The Verger Team is pleased to present the opportunity to acquire a 2.06 Acre Commercial Investment Property located in Poulsbo, Washington, leased to Puget Collision LLC with 7+ Years of remaining Firm-Term, on a NNN Lease through July 2033, with (2) 5-Year Extension Options. Puget Collision LLC is a rapidly expanding Collision Repair Operator that has grown from 18 to 70 locations across 6 states, under the CARSTAR and Fix Auto brands. The Lease provides 3% Annual Rent Increases on Base Rent + NNN, offering predictable income growth with minimal landlord expense exposure. The investment is further enhanced by an Executed Option and Lease Agreement with Eddy Energy LLC, a Delaware based Battery Energy Storage Developer, providing up to $45,000 in Non-Refundable Option Payments over 36 months, followed by a 30-Year Energy Storage Lease with 15% Rent Escalations every 5-Years, delivering additional income from the site. Strategically positioned with direct frontage on State Route 3, the primary north-south highway connecting Poulsbo to Bremerton and the Bainbridge Island ferry, the property offers excellent visibility with 31,000+ VPD, and access within a high-traffic commercial corridor. The site benefits from proximity to Naval Base Kitsap, one of the region's largest employers, and the continued growth of Kitsap County's economy, supported by ferry-commuter demand to Seattle and a stable defense-sector employment base, further underpinning the long-term performance of the investment. INVESTMENT HIGHLIGHTS: - NNN Lease with National Tenant: The property is leased to Puget Collision LLC with 7+ Years Remaining of Firm-Term on a NNN Lease, with 3% Annual Rent Increases, through July 2033, with (2) 5-Year Options at Fair Market Rent. - Recession-Resistant Industry: The collision repair industry is considered recession-resistant, as the demand for vehicle repairs persists regardless of economic conditions. This stability ensures a consistent tenant business model. - Rapidly Growing Tenant Credit: Puget Collision has expanded from 18 to 70 CARSTAR and Fix Auto locations across six states since lease execution in 2023. - Long-Duration Energy Storage Optionality: Eddy Energy LLC, a Battery Energy Storage Developer, provides up to $45,000 in Non-Refundable Option Payments over 36 months, followed by a 30-Year Energy Storage Lease with 15% Rent Escalations every 5-Years, delivering additional income from the site. - Strategic Highway 3 Corridor Location: Strategically positioned with direct frontage on State Route 3, the primary north-south highway connecting Poulsbo to Bremerton and the Bainbridge Island ferry, the property offers excellent visibility with 31,000+ VPD, and access within a high-traffic commercial corridor. - Sub-Market Vacancy: According to CoStar, the Light Industrial vacancy rate within Poulsbo is less than 1%, a direct reflection of the minimal light-industrial supply that exists within the city.






