Class A Office
For Sale
Contact for pricing
818 Madison Ave N, Bainbridge Island, WA 98110
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 Market103
Property Features for 818 Madison Ave N
General Information
Standard status
Active
Size
6,024 SF
Class
A
Property subtype
OFFICE
Occupancy
100%
Additional Details
Office Units
7
Building Details
Tenancy
Multi
Listing Agency:
Windermere Commercial / ERES
(206) 780-5007
Listed By:
Kelly Muldrow, CCIM
(206) 949-3420
Source:
Moodyscre
Added: Jul 18
Changed: Oct 25
Last Checked: Oct 28 at 9:36AM
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
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Review the available facts, identify missing information and prepare questions for the agent.
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
Estimated NOI and Cap Rate
NOI / Yr
$85,878
Cap Rate
3.99%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,717,560
$1.7M
Cap Rate 7%
$1,226,829
$1.2M
Cap Rate 9%
$954,200
$954.2K
Market Conditions
NOI Build-Up for 6,024 SF
Gross rent
$130.1K $21.60/SF
− Vacancy
−$15.6K −$2.59/SF
EGI
$114.5K $19.01/SF
− OpEx
−$28.6K −$4.75/SF
NOI
$85.9K $14.26/SF
Area
Kitsap County, WA
Vacancy
12.00%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,717,560
Cap Rate 7%
$1,226,829
Cap Rate 9%
$954,200
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.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
7
Office units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,809
Businesses Nearby
Explore this area
Business Placement
Demographics for 98110, WA
24,825
Population
10,728
Households
2.3
Avg Household Size
51
Median Age
75%
College-Educated
99%
High-School Grad
27.6 sq mi
ZIP Area
899
Density / Sq Mi
$159,882
Median Household Income
$77,528
Median Earnings
$2,081
Median Rent
$1,076,200
Median Home Value
Market
Vacancy Rate% for Office in West region
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
