Leased Bainbridge Island Investment
For Sale
Contact for pricing
12935 Islandcraft Ln NE, Bainbridge Island, WA 98110
Fully leased coffee roaster space on Bainbridge Island.
Property Size1,254 SF
Price / SF$357.89
Days on Market950
Property Features for 12935 Islandcraft Ln NE
General Information
Standard status
Active
Size
1,254 SF
Property subtype
Industrial
Zoning
B/I
Occupancy
100%
Building Details
Year Built
2015
Stories
2
Listing Agency:
Windermere Real Estate/West Sound
Listed By:
Kelly Muldrow · License #WA
(360) 692-6102
Source:
Crexi
Added: Feb 1, 2024
Changed: Aug 31
Last Checked: Sep 7 at 11:31AM
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 Real Estate/West Sound
Investment Insights
Based on property information with market context.
This investment opportunity is located on Bainbridge Island within the Island Craft Condominium project. The property is a 1,254 square foot space that is currently fully leased to a coffee roaster with a long-term lease.
Key Highlights
- Prime investment opportunity on Bainbridge Island.
- Fully leased space provides immediate income.
- Tenant is a well‑established coffee roaster.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$29,270
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.52%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$585,400
$585.4K
Cap Rate 7%
$418,143
$418.1K
Cap Rate 9%
$325,222
$325.2K
Market Conditions
NOI Build-Up for 1,254 SF
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.
Gross rent
$41.1K $32.76/SF
− Vacancy
−$2.1K −$1.64/SF
EGI
$39.0K $31.12/SF
− OpEx
−$9.8K −$7.78/SF
NOI
$29.3K $23.34/SF
Area
Kitsap County, WA
Vacancy
5.00%
Lease Rate
$32.76 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$585,400
Cap Rate 7%
$418,143
Cap Rate 9%
$325,222
Alternative Uses
Best Use
Specialty Retail
$418.1K
$365.9K – $487.8K
NOI $29,270 @ 7.0% cap · market cap 6.52%
Second Best
—
—
no second resolved use
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
214
Businesses Nearby
Balanced
Demand for This Use
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 Retail in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Storyville Coffee Company — 9459 Coppertop Loop NE, Bainbridge Island, WA 98110
Frequently Asked Questions
What type of property is this?
Coffee shop - Fully leased coffee roaster space on Bainbridge Island.
Where is this coffee shop located?
The property is located at 12935 Islandcraft Ln NE Bainbridge Island, WA.
What is the asking price?
The asking price for this property is $448,800.
What are key features of this property?
This property features: Prime investment opportunity on Bainbridge Island.; Fully leased space provides immediate income.; Tenant is a well‑established coffee roaster.
