Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    818 Madison Ave Bainbridge Island, WA 98110

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Bainbridge Island Class A Office Space

    Lot size:
    6,696 SF

    Property Features for 818 Madison Ave

    General Information

    Property type
    Office properties & Spaces
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    6,696 SF
    Class
    A
    Total Rate
    20088

    Building Details

    Year Built
    2005
    Buildings
    1
    Stories
    2

    Spaces For Lease

    at 818 Madison Ave, Bainbridge Island, WA 98110 Contact us
    Unit Floor 2nd, Suite 200

    $36 /Mo

    Size
    1,128 SF
    Contact us
    Unit Suite 100

    $36 /Mo

    Size
    891 SF
    Contact us

    We can help!

    Listing Contact
    Kelly Muldrow
    Kelly Muldrow

    Listing Agency: WINDERMERE COMMERCIAL/ERES Listing Agent: Kelly Muldrow

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    This exceptional Class A office building, located on Madison Avenue in the CBA Bainbridge Island submarket, offers 6,696 square feet of prime office space in a custom-built, multi-tenant setting. Ideal for professional services or consulting firms, the building boasts a quiet lounge with a gas fireplace in the common entrance area. Currently, there are 1,538 square feet of vacant space available, divisible into units ranging from 163 to 1,128 contiguous square feet. Units feature desirable amenities including private offices, conference rooms, vaulted ceilings, and large windows, maximizing natural light and creating a productive work environment. Building amenities include a common kitchenette on the second floor, separate men's and women's restrooms, and a private balcony. The property sits on a 0.92-acre lot (40,075 square feet), with ample parking provided by 39 spaces. Built in 2005, this two-story building is situated in Kitsap County and features a convenient location with easy access via Wallace Way. The Tax ID number is 26260220202007. The APN is 8517-000-000-0009|2. This is a rare opportunity to secure high-quality office space in a desirable location.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Hair Salon Dental Office Nail Salon Building Supply Gym & Fitness Center Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Bainbridge Island
    County
    Kitsap
    State
    Washington
    Longitude
    -122.5205996
    Latitude
    47.6311808

    Nearby Similar for Lease

    • Sponsored
      Contact for pricing

      WA, Bainbridge - Ravine Ln

      Discover many ways to work your way in Greenwich
      100 Ravine Ln, Bainbridge Island, WA 98110
      View Details
    • $18 SF/Yr
      443 SF

      Waterfront Trail Access Office Space

      Office space with waterfront trail access available for rent.
      187 Parfitt Way SW, Bainbridge Island, WA 98110
      View Details
    • $30 SF/Yr
      1,702 SF

      Winslow Way Office Space For Rent

      Office space with courtyard, kitchenette, and conference room.
      200 Winslow Way W, Bainbridge Island, WA 98110
      View Details
    • $30 SF/Yr
      710 SF

      Efficient Office Suite For Lease

      Charming office suite with private offices, reception, and kitchenette.
      600 Ericksen Ave NE, Bainbridge Island, WA 98110
      View Details
    • $26 SF/Yr
      811 SF

      Bainbridge Island Office Space

      Airy office space with harbor and courtyard views for rent.
      330 Madison Ave S, Bainbridge Island, WA 98110
      View Details
    • $1,087 /Mo
      290 SF

      Remodeled Office Space on Ericksen

      Newly remodeled office space with included utilities and internet.
      750 Ericksen Ave NE, Bainbridge Island, WA 98110
      View Details
    • $25 SF/Yr
      221 SF

      Bainbridge Island Office Space

      Office space near Winslow Way and Seattle/Bainbridge ferry.
      355-385 Erickson Ave NE, Bainbridge Island, WA
      View Details
    • $27 SF/Yr
      852 SF

      Downtown Winslow Office Space Available

      Office space in downtown Winslow suitable for professional services.
      145 Finch Rd SW, Bainbridge Island, WA 98110
      View Details
    • $22 SF/Yr
      463 SF

      Bright Office Space on Winslow

      Inviting office space with natural light on Winslow Way.
      265 Winslow Way E, Bainbridge Island, WA 98110
      View Details
    • $27 SF/Yr
      363 SF

      Ericksen Avenue NE Office Space

      Private office space in well-maintained medical/office building.
      727 Ericksen Ave NE, Bainbridge Island, WA 98110
      View Details
    • $18 SF/Yr
      1,271 SF

      Winslow Office Building For Rent

      Office building in Winslow with flexible configurations available for rent.
      425-435 Ericksen Ave NE, Bainbridge Island, WA 98110
      View Details
    • $24 SF/Yr
      997 SF

      Bainbridge Island Waterfront Office Space

      Functional office suite with harbor views and convenient access.
      175 SW Parfitt Way, Bainbridge Island, WA 98110
      View Details

    FAQs

    What type of property is this?
    Office property - Bainbridge Island Class A Office Space
    Where is this office property located?
    The property is located at 818 Madison Ave Bainbridge Island, WA.
    What is the lease rate?
    The lease rate is $36 SF/Yr.
    What are key features of this property?
    This property features: Class A, 6,696 SF office building in the CBA Bainbridge Island submarket.; Two-story building constructed in 2005, featuring 39 parking spaces.; Multiple suites available, ranging from 163 SF to 1,128 SF contiguous; 1,538 SF currently vacant.
    (360) 692-6102 Call to check price and availability
    Request Owner's contact information
    818 Madison Ave Bainbridge Island, WA 98110
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    818 Madison Ave
    Bainbridge Island, WA 98110
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    818 Madison Ave Bainbridge Island, WA 98110
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Kelly Muldrow
    Kelly Muldrow
    (360) 692-6102 (206) 949-3420 (206) 780-5007
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!