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 Drive SE #107 Bainbridge Island, WA 98110

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $545,000

    Fully leased medical and retail space in Seabreeze Condominiums.

    Type:Commercial
    Added:
    Nov 28, 2023
    Days on Market:
    875
    Last Refresh:
    Apr 5 at 9:11 pm

    Property Features for 123 Bjune Drive SE #107

    General Information

    Standard status
    Active
    Property subtype
    Commercial

    Building Details

    Year Built
    2006

    We can help!

    Listing Contact
    KELLY MULDROW
    KELLY MULDROW

    Listing agent KELLY MULDROW

    Listing office WINDERMERE COMMERCIAL/ERES

    Listing date Nov 28, 2023

    Source Corcoran

    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 WINDERMERE COMMERCIAL/ERES

    Overview

    Seabreeze Condominium Office Condo

    This property presents an investment opportunity with a fully leased professional medical space and a street-facing retail unit. The leases are secured through June 2026. The unit is located within the Seabreeze Condominiums mixed-use complex. It benefits from its proximity to waterfront marinas, restaurants, and downtown shopping areas.
    Property Profile Insight Report 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 — 800 Ericksen Ave NE, Bainbridge Island, WA 98110
    • Susumi Christine DVM — 800 Ericksen Ave NE, Bainbridge Island, WA 98110, United States
    • Barfield Lisa G DVM — 800 Ericksen Ave NE, Bainbridge Island, WA 98110
    • Zebrowski Kenneth G DVM — 800 Ericksen Ave NE, Bainbridge Island, WA 98110, United States

    Location Insight

    • Map
    • Local Demand
    City
    Bainbridge Island
    County
    Kitsap
    State
    Washington
    Longitude
    -122.521
    Latitude
    47.624

    Nearby Similar for Sale

    • $2,225,000

      Bainbridge Island Office Asset

      Office asset in supply-constrained Bainbridge Island submarket.
      911 Hildebrand Ln NE, Bainbridge Island, WA 98110
      View Details
    • $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
    • $1,890,000
      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
      View Details
    • $1,088,000
      2,889 SF

      Bainbridge Island Standalone Office Building

      2,889 SF standalone office building in downtown Bainbridge Island.
      250-284 Madrona Way NE, Bainbridge Island, WA
      View Details
    • Contact for pricing
      4,761 SF

      Coppertop Park Flex Space

      Versatile 4,761 SF space in a convenient Bainbridge Island location.
      Sportsman Club Rd NE 9440, Bainbridge Island, WA
      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
    • $300,000
      1,900 SF

      Versatile Unit with Unique Amenities

      Adaptable commercial unit featuring kitchen, fireplace, and fitness area.
      360 Knechtel Way NE #405, Bainbridge Island, WA 98110
      View Details
    • Contact for pricing

      Mixed-Use Community in Winslow District

      Mixed-use property with residences and commercial space in Bainbridge Island.
      325 Tormey Ln NE, Bainbridge Island, WA 98110
      View Details
    • $545,000
      1,313 SF

      Fully Leased Mixed-Use Condo

      Leased medical and retail space in mixed-use complex.
      123 Bjune Dr SW, Bainbridge Island, WA
      View Details
    • $2,400,000

      Class A Office Building Investment

      Fully occupied Class A office building on Bainbridge Island.
      840 Madison Avenue N, Bainbridge Island, WA 98110
      View Details
    • $448,800
      1,254 SF

      Bainbridge Island Investment Opportunity

      Leased coffee roaster space on Bainbridge Island.
      12935 Islandcraft Ln NE, Bainbridge Island, WA
      View Details
    • $458,000
      1,254 SF

      Island Craft Condominium Investment

      Leased condominium unit on Bainbridge Island.
      12935 Islandcraft Lane NE #A5, Bainbridge Island, WA 98110
      View Details

    FAQs

    What type of property is this?
    Medical Office Space - Fully leased medical and retail space in Seabreeze Condominiums.
    Where is this medical office space located?
    The property is located at 123 Bjune Drive SE #107 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 professional medical and retail space provides immediate income.; Leases secured through June 2026 offer long‑term investment stability.; Located in the prestigious Seabreeze Condominiums mixed‑use complex.
    (206) 780-5007
    We can help!
    Listing Contact
    KELLY MULDROW
    KELLY MULDROW
    Learn More
    Request Owner's contact information
    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.
    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
    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

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!