Class A Office Space
271 Wyatt Way NE Bainbridge Island, WA 98110
For Sale
$273,000
Class A condominium office space in a prime Bainbridge building.
Property Size574 SF
Price / SF$475.61
Days on Market820
Property Features for 271 Wyatt Way NE
General Information
Standard status
Active
Size
574 SF
Building Details
Year Built
2008
Listing Agency:
THE AGENCY BAINBRIDGE ISLAND
Listed By:
BROR ELMQUIST
Source:
Corcoran
Added: May 2, 2024
Changed: Mar 16
Last Checked: Mar 16 at 9:08AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of THE AGENCY BAINBRIDGE ISLAND
Investment Insights
Based on property information with market context.
This is a Class A condominium office space located in one of the premier office buildings on Bainbridge Island. The unit is situated on the ground floor and occupies a corner position adjacent to the sidewalk. The property provides ample parking options, including an underground garage and a surface parking lot. The property size is 574 square feet.
Key Highlights
- Class A condominium office space, a premium professional environment.
- Located in one of the best office buildings on Bainbridge.
- Ground floor unit for easy access.
Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $12.4k | $21.60 |
| − Vacancy | −$1.5k | −$2.59 |
| EGI | $10.9k | $19.01 |
| − OpEx | −$2.7k | −$4.75 |
| NOI | $8.2k | $14.26 |
574 SF · lease $21.60/SF/yr · vacancy 12.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$116.9K
$102.3K – $136.4K
NOI $8,183 @ 7.0% cap · market cap 3.00%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$191.4K
$167.5K – $223.3K
NOI $13,398 @ 7.0% cap · market cap 4.91%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Office units - Class A condominium office space in a prime Bainbridge building.
Where is this office units located?
The property is located at 271 Wyatt Way NE Bainbridge Island, WA.
What is the asking price?
The asking price for this property is $273,000.
What are key features of this property?
This property features: Class A condominium office space, a premium professional environment.; Located in one of the best office buildings on Bainbridge.; Ground floor unit for easy access.
