12935 Islandcraft Ln Bainbridge Island, WA 98110
- Industrial properties
- 23,058 SF
- 1.47 lot acres
Current Use by Public Records
- Industrial properties
Property Details for 12935 Islandcraft Ln
- Year built
- 2015
- Lot size
- 1.47 lot acres
- Property size
- 23,058 SF
- Property type
- Industrial properties
- Property subtype
- Manufacturing properties
Description
This exceptional investment opportunity presents a fully leased, multi-tenant industrial condominium complex situated on Bainbridge Island, Washington. The property, comprised of three buildings totaling 23,058 square feet across 15 units, boasts a desirable location at 12935 Islandcraft Ln NE, 98110, within the sought-after Island Craft Condominium project. Built in 2015, the two-story structures sit on a 1.47-acre lot (APN 8207-000-000-0004) and are zoned for CITY use. The property's net rentable area is 1,254 square feet, with a current asking price of $438,800 and a strong 5.18% cap rate. The current Net Operating Income (NOI) stands at $22,714, reflecting a stable and profitable investment. The property is currently under a triple net (NNN) lease arrangement. This prime location offers significant potential for long-term growth and return on investment, making it an attractive proposition for discerning investors seeking a well-established, multi-tenant industrial property in a desirable market. The property's subtype is classified as Distribution and Manufacturing, reflecting its versatility and suitability for a range of industrial uses.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Bainbridge Island
- County
- Kitsap
- State
- Washington
- Longitude
- -122.546
- Latitude
- 47.6798
