Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    12935 Islandcraft Ln Bainbridge Island, WA 98110
    Back to Search
    Property profile & analytics

    12935 Islandcraft Ln, Bainbridge Island, WA 98110

    View on Map
    • Industrial properties
    • 23,058 SF
    • 1.47 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Industrial properties

    Property Details for 12935 Islandcraft Ln

    Year built
    2015
    Lot size
    1.47 lot acres
    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 Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Bainbridge Island
    County
    Kitsap
    State
    Washington
    Longitude
    -122.546
    Latitude
    47.6798

    Comparable in this City

    • Value Estimation by Request
      9,200 SF

      Un-Disclosed

      Individual retail properties
      0 Un-Disclosed, Bainbridge Island, WA 98110
      View Details
    • Value Estimation by Request
      36 SF

      Bainbridge Island, WA 98110

      MANUFACTURING (LIGHT)
      Bainbridge Island, WA 98110
      View Details
    • Value Estimation
      $2,010,000
      19,954 SF

      8500 Day E Rd

      MANUFACTURING (LIGHT)
      8500 Day E Rd, Bainbridge Island, WA 98110-1395
      View Details
    • Value Estimation
      $2,465,000
      8,880 SF

      8040 Day W Rd

      MANUFACTURING (LIGHT)
      8040 Day W Rd, Bainbridge Island, WA 98110-6206
      View Details
    • Value Estimation
      $905,000
      8,880 SF

      8040 Day W Rd

      MANUFACTURING (LIGHT)
      8040 Day W Rd, Bainbridge Island, WA 98110-6206
      View Details
    • Value Estimation
      $1,285,000
      12,544 SF

      7865 Day W Rd

      MANUFACTURING (LIGHT)
      7865 Day W Rd, Bainbridge Island, WA 98110-6212
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Island Craft Condominium Investment

      Leased condominium unit on Bainbridge Island.
      12935 Islandcraft Ln NE, Bainbridge Island, WA 98110
      View Details
    • Contact for pricing
      54,775 SF

      Bainbridge Island Self-Storage Facility

      Newly constructed, climate-controlled storage facility on Bainbridge Island.
      6455 Fletcher Bay Rd NE, Bainbridge Island, WA 98110
      View Details
    • Contact for pricing
      1,817 SF

      Waterfront Marina and Restaurant Opportunity

      Mixed-use property with marina, restaurant, and development potential.
      231 Parfitt Way SW, Bainbridge Island, WA 98110
      View Details
    • Contact for pricing
      1,254 SF

      Bainbridge Island Investment Opportunity

      Leased coffee roaster space on Bainbridge Island.
      12935 Islandcraft Ln NE, Bainbridge Island, WA 98110
      View Details
    • $590,000

      Point White Build-Ready Waterfront Lot

      Buildable waterfront lot with approved shoreline variance permit.
      3356 Point White Dr NE, Bainbridge Island, WA 98110
      View Details
    • $273,000
      574 SF

      Class A Office Space Condo

      Class A condominium office space in a prime Bainbridge building.
      271 Wyatt Way NE, Bainbridge Island, WA 98110
      View Details

    Similar Nearby for Lease

    • $1,569 /Mo
      1,345 SF

      Bainbridge Island Flex/Industrial Space

      Modern flex/industrial spaces available for rent on Bainbridge Island.
      12681 Miller Rd, Bainbridge Island, WA 98110
      View Details
    • Sponsored
      Contact for pricing

      WA, Bainbridge - Ravine Ln

      Discover many ways to work your way in WA, Bainbridge - Ravine Ln
      100 Ravine Ln, Bainbridge Island, WA 98110
      View Details
    • $6,670 /Mo
      5,800 SF

      Bainbridge Island Industrial Flex Space

      Centrally located, clean, and flexible industrial space for rent.
      8040 Day Rd W, Bainbridge Island, WA 98110
      View Details
    • $104,091
      2,669 SF

      Historic Waterfront Building for Lease

      Restored warehouse/lab space with waterfront views, suitable for retail/office.
      4566 Point White Dr NE, Bainbridge Island, WA 98110
      View Details
    • Contact for pricing

      Bainbridge Island Commercial Space

      Commercial office and storage space in a convenient Bainbridge Island location.
      9431 Coppertop Loop NE, Bainbridge Island, WA 98110
      View Details
    • $939 /Mo
      805 SF

      Bainbridge Island Flex/Office Space

      Modern flex and office spaces available in Bainbridge Island business park.
      12681 Miller Rd, Bainbridge Island, WA 98110
      View Details
    Request Owner's contact information
    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.
    12935 Islandcraft Ln
    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
    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

    Thank You for Inquiry
    12935 Islandcraft Ln, Bainbridge Island, WA, 98110
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!