Class A Office Building
818 Madison Ave N Bainbridge Island, WA 98110
For Sale
Contact for pricing
Well-maintained, fully occupied office building with stable tenants.
Property Size6,696 SF
Lot Size0.92 Acres
Price / SF$358.42
Days on Market1114
Property Features for 818 Madison Ave N
General Information
Standard status
Active
Size
6,696 SF
Lot size
0.92 Acres
Property subtype
OFFICE
Properties For Sale
at 818 Madison Ave N Contact us
Listing Agency:
Windermere Commercial / ERES
(206) 949-3420
Listed By:
Kelly Muldrow, CCIM
(206) 949-3420
Source:
Moodyscre
Added: Jul 13, 2023
Changed: Jul 6
Last Checked: Jul 21 at 6:23AM
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 818 Madison Building is a Class A office building located on Bainbridge Island. Designed by Wenzlau Architects, the building has been recently remodeled and updated. The property has a total size of 6,696 square feet and is 100% occupied by seven tenants. Individual tenant spaces range in size from 314 to 1,981 square feet. The building offers an opportunity to invest in a Class A office building with durable rents.
Key Highlights
- Class A office building investment opportunity.
- 100% occupied with stable tenants, ensuring consistent income.
- Recently extensively remodeled and updated, presenting a modern and attractive workspace.
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 | $144.6k | $21.60 |
| − Vacancy | −$17.4k | −$2.59 |
| EGI | $127.3k | $19.01 |
| − OpEx | −$31.8k | −$4.75 |
| NOI | $95.5k | $14.26 |
6,696 SF · lease $21.60/SF/yr · vacancy 12.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$1.36M
$1.19M – $1.59M
NOI $95,458 @ 7.0% cap · market cap 3.98%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$2.23M
$1.95M – $2.60M
NOI $156,295 @ 7.0% cap · market cap 6.51%
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 building - Well-maintained, fully occupied office building with stable tenants.
Where is this office building located?
The property is located at 818 Madison Ave N Bainbridge Island, WA.
What is the asking price?
The asking price for this property is $2,400,000.
What are key features of this property?
This property features: Class A office building investment opportunity.; 100% occupied with stable tenants, ensuring consistent income.; **Recently extensively remodeled and updated**, presenting a modern and attractive workspace.
