Four-Unit Office Condominium
175 Parfitt Way SW Bainbridge Island, WA 98110
175 Parfitt Way SW, Bainbridge Island, WA, 98110
$6,495,000
For Sale
$6,495,000
Four office condominium units occupy the lower two floors of a 2000-built building near Eagle Harbor.
Property Size18,196 SF
Price / SF$356.95
Days on Market21
Property Features for 175 Parfitt Way SW
General Information
- Standard status
- Active
- Size
- 18,196 SF
- Property subtype
- Commercial
Building Details
- Year Built
- 2000
Listing agency
WINDERMERE COMMERCIAL / ERES
(360) 692-6102
Listed by
KELLY MULDROW, CCIM
Source
Corcoran
Added: Jul 1 Updated: Jul 21 at 2:32AM Checked: Jul 21 at 4:47AM
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
Investment Insights
Based on property information with market context.
The Parfitt Building at Wharfside offers four commercial office condominium units on the lower two floors, totaling 18,196 RSF. The building was designed by Cutler Anderson Architects and built by Fairbank Construction Company in 2000. The offering is limited to the separately held commercial office condominiums and excludes the independently-owned residential condominiums on the top floor of each building.
Situated steps from the public dock, the marina, and downtown Winslow, the property is also described as a five-minute walk to the ferry terminal, restaurants, and the Bainbridge Island Museum of Art. Public remarks further note that strict commercial zoning limits new supply and that there is no comparable Eagle Harbor-frontage product.
For buyers and tenant representatives, this is a concentrated, multi-unit office condominium opportunity within an established waterfront business setting.
Situated steps from the public dock, the marina, and downtown Winslow, the property is also described as a five-minute walk to the ferry terminal, restaurants, and the Bainbridge Island Museum of Art. Public remarks further note that strict commercial zoning limits new supply and that there is no comparable Eagle Harbor-frontage product.
For buyers and tenant representatives, this is a concentrated, multi-unit office condominium opportunity within an established waterfront business setting.
Key Highlights
- Four office condominium units in the Parfitt Building at Wharfside, occupying the lower two floors
- Total office space: 18,196 RSF
- Building built in 2000; designed by Cutler Anderson Architects and built by Fairbank Construction Company
Local 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 | $393.0k | $21.60 |
| − Vacancy | −$47.2k | −$2.59 |
| EGI | $345.9k | $19.01 |
| − OpEx | −$86.5k | −$4.75 |
| NOI | $259.4k | $14.26 |
18,196 SF · lease $21.60/SF/yr · vacancy 12.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$3.71M
$3.24M – $4.32M
NOI $259,402 @ 7.0% cap · market cap 3.99%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$6.07M
$5.31M – $7.08M
NOI $424,722 @ 7.0% cap · market cap 6.54%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Office Units
Similar For Sale Nearby
FAQs
What type of property is this?
Office units - Four office condominium units occupy the lower two floors of a 2000-built building near Eagle Harbor.
Where is this office units located?
The property is located at 175 Parfitt Way SW Bainbridge Island, WA.
What is the asking price?
The asking price for this property is $6,495,000.
What are key features of this property?
This property features: Four office condominium units in the Parfitt Building at Wharfside, occupying the lower two floors; Total office space: 18,196 RSF; Building built in 2000; designed by Cutler Anderson Architects and built by Fairbank Construction Company
