Myhre Place Retail Center | 100% Occupied NNN Center… — Sale in Silverdale, WA

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Retail Business
  • Location: Silverdale, WA 98383
  • Year built: 1987

Photos

Myhre Place Retail Center | 100% Occupied NNN Center… — Sale in Silverdale, WA, photo 1 of 2
Myhre Place Retail Center | 100% Occupied NNN Center… — Sale in Silverdale, WA, photo 2 of 2

Investment Figures

Cap rate
7.00%

Derived from the asking price and operating figures published for this listing. Informational only — not an appraisal, valuation or financial advice. Verify independently before relying on any figure.

Description

Marcus & Millichap has been selected to exclusively market for sale Myhre Place Retail Center, a fully occupied NNN retail center in Silverdale, Washington. The property is 100% leased by 13 tenants spanning grocery, restaurant, brewery, experiential, general retail, and professional services — with over 76% of GLA occupied by tenants in place more than five years and nearly 50% for more than ten. All tenants operate on NNN leases with management fee reimbursement, and all leases feature annual or semiannual rent increases of 3%–6%. Two new 5-year leases executed since early 2026 have driven $125,000+ in NOI growth and brought the property to full occupancy. Located within the Silverdale retail trade area — the commercial hub of the Kitsap Peninsula with $1.2B+ in annual consumer spending — the property is shadow anchored by Kitsap Mall and surrounded by WinCo, Target, Costco, Home Depot, REI, Trader Joe's, and more. Silverdale's retail vacancy for spaces between 1,000–5,000 SF sits at just 1.7%, with approximately 15% rent growth over five years and no new supply delivered in the past 12 months. Within three miles, the population has grown over 13% in the past decade with average household incomes exceeding $120,000. Washington's lack of state income tax further enhances after-tax returns. Investment Highlights: • Fully Occupied Retail Center w/ Grocer and Diverse Tenant Mix • NNN Leases w/ Minimal Landlord Responsibilities • Annual/Semiannual Rent Increases for All Tenants • Strong Historical Occupancy • Robust Leasing Momentum | $125,000+ NOI Growth Since February 2026 • Dominant Silverdale Retail Trade Area | $1.2B+ Annual Consumer Spending • High Barrier-to-Entry Submarket with 1.7% Vacancy Rate • Affluent Demographics with Strong Population Growth

Market Context

This retail in Silverdale, WA is listed for sale. It is offered at an approximate 7.0% capitalization rate, a key benchmark for income-producing retail assets. The building dates to 1987. Compare it against other retail listings for sale in Silverdale, WA — view the full market.

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