Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    123 Bjune Dr SW Bainbridge Island, WA 98110

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    Leased medical and retail space in mixed-use complex.

    Property size:
    1,313 SF
    Lot size:
    0.33 Acres

    Property Features for 123 Bjune Dr SW

    General Information

    Size
    1,313 SF
    Lot size
    0.33 Acres

    We can help!

    Listing Contact
    Kelly Muldrow, Ccim
    Kelly Muldrow, Ccim
    Source: Moodyscre

    Listing Agency: Windermere Commercial / ERES Listing Agent: Kelly Muldrow, Ccim

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Fully Leased Mixed-Use Condo

    This 1,313 square foot unit is a fully leased professional medical space with a street-facing retail unit. Leases are secured through June 2026. The property is located within the Seabreeze Condominiums mixed-use complex, benefiting from its location near waterfront marinas, restaurants, and downtown shopping. The property has Bainbridge Island Core District zoning and includes access to underground parking. The unit is part of a well-established mixed-use living and retail center. The current Net Operating Income is $29,801.
    Location Intelligence

    Current Use by Public Records

    Medical Office Space

    Suggested Use

    Restaurant Law Firm Real Estate Agency Hair Salon Spa & Massage Center Dental Office Nail Salon Food Market Grocery & Convenience Store Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    Winslow Animal Clinic, Susumi Christine DVM, Barfield Lisa G DVM, Zebrowski Kenneth G DVM

    Location Insight

    • Map
    • Local Demand
    City
    Bainbridge Island
    County
    Kitsap
    State
    Washington
    Longitude
    -122.5206045
    Latitude
    47.6240431

    Nearby Similar for Sale

    • $348,000
      771 SF

      Bainbridge Island Office/Retail Condominiums

      Class A office and retail spaces near downtown.
      271 Wyatt Way NE, Bainbridge Island, WA 98110
      View Details
    • $1,088,000

      Bainbridge Island Standalone Office Building

      2,889 SF office building in downtown Bainbridge Island.
      250 Madrona Way Ne, Bainbridge Island, WA 98110
      View Details
    • $1,088,000

      Bainbridge Island Standalone Office Building

      2,889 SF standalone office building in downtown Bainbridge Island.
      250 Madrona Way NE, Bainbridge Island, WA 98110
      View Details
    • $985,000
      2,049 SF

      Harbor Square Corner Office Space

      Corner office space near Bainbridge Island ferry terminal with parking.
      776 Winslow Way E, Bainbridge Island, WA 98110
      View Details
    • Contact for pricing
      6,000 SF

      Rolling Bay Retail Center Investment

      Multi-tenant retail center with development potential in Rolling Bay.
      10320 NE Valley Rd, Bainbridge Island, WA 98110
      View Details
    • $1,088,000
      1,445 SF

      Bainbridge Island Standalone Office Building

      2,889 SF standalone office building in downtown Bainbridge Island.
      250-284 Madrona Way NE, Bainbridge Island, WA 98110
      View Details
    • Contact for pricing

      Coppertop Park Flex Space

      Versatile 4,761 SF space in a convenient Bainbridge Island location.
      9440 Sportsman Club Rd NE, Bainbridge Island, WA 98110
      View Details
    • $2,400,000

      Class A Bainbridge Island Office

      Fully occupied Class A office building with stable tenants.
      840 Madison Ave N, Bainbridge Island, WA 98110
      View Details
    • $2,400,000

      Class A Office Building Investment

      Fully occupied Class A office building on Bainbridge Island.
      840 Madison Ave N, Bainbridge Island, WA 98110
      View Details
    • Contact for pricing

      Versatile Unit with Unique Amenities

      Adaptable commercial unit featuring kitchen, fireplace, and fitness area.
      360 Knechtel Way NE, Bainbridge Island, WA 98110
      View Details
    • $438,800
      23,058 SF

      Bainbridge Island Industrial Condo

      Multi-tenant industrial condo, high ROI.
      12935 Islandcraft Ln, Bainbridge Island, WA 98110
      View Details
    • $458,000

      Island Craft Condominium Investment

      Leased condominium unit on Bainbridge Island.
      12935 Islandcraft Ln NE, Bainbridge Island, WA 98110
      View Details

    FAQs

    What type of property is this?
    Medical Office Space - Leased medical and retail space in mixed-use complex.
    Where is this medical office space located?
    The property is located at 123 Bjune Dr SW Bainbridge Island, WA.
    What is the asking price?
    The asking price for this property is $545,000.
    What are key features of this property?
    This property features: - Fully leased with leases secured through June 2026, providing immediate income.; - Prime location within the prestigious Seabreeze Condominiums mixed-use complex.; - Strong Net Operating Income (NOI) of $29,801.
    (360) 692-6102 Call to check price and availability
    Request Owner's contact information
    123 Bjune Dr SW Bainbridge Island, WA 98110
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    123 Bjune Dr SW
    Bainbridge Island, WA 98110
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    123 Bjune Dr SW Bainbridge Island, WA 98110
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Kelly Muldrow, Ccim
    Kelly Muldrow, Ccim
    (360) 692-6102 (206) 949-3420 (206) 780-5007
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!