Class A Office
818 Madison Ave N Bainbridge Island, WA 98110
For Sale
Contact for pricing
Seven tenants occupy the remodeled 818 Madison Building, offering stable leased office space for investors.
Property Size6,024 SF
Price / SF$356.91
Days on Market10
Property Features for 818 Madison Ave N
General Information
Standard status
Active
Size
6,024 SF
Property subtype
OFFICE
Listing Agency:
Windermere Commercial / ERES
(206) 949-3420
Listed By:
Kelly Muldrow, CCIM
(206) 949-3420
Source:
Moodyscre
Added: Jul 18
Changed: Jul 25
Last Checked: Jul 26 at 11:13AM
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 property recently remodeled and updated. The building is currently 100% occupied by seven stable tenants, with suites ranging from 314 to 1,981 square feet. Designed by Wenzlau Architects, the property has been positioned as a fresh, durable-offering office investment.
The building is located at 818 Madison Ave N on Bainbridge Island. It is offered for sale as a first-time-to-market opportunity.
As configured, the asset provides multiple leased office spaces under a tenant mix that supports steady occupancy.
The building is located at 818 Madison Ave N on Bainbridge Island. It is offered for sale as a first-time-to-market opportunity.
As configured, the asset provides multiple leased office spaces under a tenant mix that supports steady occupancy.
Key Highlights
- 818 Madison Building is 100% occupied by seven stable tenants
- Tenants include spaces ranging from 314 to 1,981 sq ft
- Building was designed by Wenzlau Architects
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 | $130.1k | $21.60 |
| − Vacancy | −$15.6k | −$2.59 |
| EGI | $114.5k | $19.01 |
| − OpEx | −$28.6k | −$4.75 |
| NOI | $85.9k | $14.26 |
6,024 SF · lease $21.60/SF/yr · vacancy 12.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$1.23M
$1.07M – $1.43M
NOI $85,878 @ 7.0% cap · market cap 3.99%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$2.01M
$1.76M – $2.34M
NOI $140,609 @ 7.0% cap · market cap 6.54%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Office building - Seven tenants occupy the remodeled 818 Madison Building, offering stable leased office space for investors.
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 $2,150,000.
What are key features of this property?
This property features: 818 Madison Building is 100% occupied by seven stable tenants; Tenants include spaces ranging from 314 to 1,981 sq ft; Building was designed by Wenzlau Architects
