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Property profile & analytics
OFF-MARKET
Estimated value
$2,085,000
Retail space
106 Madison N Ave Bainbridge Island, WA 98110-1814
Entity Owned
11-yr Hold
~
Est. High Equity
Property ID
US90-1069629
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1927
Total area
8,653 SF
Lot
0.32 ac (13,939 SF)
Zoning code
CITY
APN
262502-3-072-2002
UPID
US90-1069629
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$1.99M
Comparable Approach
Comparable
$2.41M
Blend (final)
Blend
$2.09M
Owner & transaction history
Lundgren Station LLC · 11 yrs held
Lundgren Station LLC
since 2014
5 recorded transactions
Zoning & alternative use
CITY · Bainbridge Island, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Bainbridge Island submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Bainbridge Island submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$2,150,000
6.5%
$1,985,000
7%
$1,845,000
Alternative Use
Use
Estimation
RETAIL STORES
$3,470,000
Current use
APARTMENT HOUSE (5+ UNITS)
$3,070,000
Change: -12% · Conversion: Difficult
OFFICE BUILDING
$3,060,000
Change: -12% · Conversion: Easy
MEDICAL BUILDING
$2,975,000
Change: -14% · Conversion: Difficult
Blend value · Realmo final
$2.09M
Range $1.88M – $2.29M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$241 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2024Property tax & assessments
Tax year 2024
Tax billed
$18,492
Tax year 2024
Assessed value
$2,457,580
Assessed 2024
Previous assessed
$2,457,580
+0.0% YoY
Effective rate
0.75%
On assessed value
Assessed land
$834,010
Assessed improvement
$1,623,570
Land market value
$834,010
Improvement market value
$1,623,570
Total market value
$2,457,580
Applied tax rate
215.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
1927
Heating
YES
Stories
1
Total area
8,653 SF
Lot
0.32 ac (13,939 SF)
Zoning code
CITY
APN
262502-3-072-2002
UPID
US90-1069629
Jurisdiction
KITSAP
Zoning & alternative use
CITY · Bainbridge Island, WA
Zoning CITY · permitted uses
CITY · Bainbridge Island, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Bainbridge Island. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$3.5M
APARTMENT HOUSE (5+ UNITS)
Est. value
$3.1M
OFFICE BUILDING
Est. value
$3.1M
MEDICAL BUILDING
Est. value
$3.0M
RETAIL STORES Current
APARTMENT HOUSE (5+ UNITS)
OFFICE BUILDING
MEDICAL BUILDING
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1927
Heating
YES
Stories
1
Lot
0.32 ac
Current owner
From public records · entity-resolved
Lundgren Station LLC
Entity
Mailing address
207 LUDLOW BAY RD, PORT LUDLOW, WA 98365-8729
Ownership since
2014
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 18, 2014
—
Lundgren Station LLC
Miller,earl & Linda
Quit Claim Deed
related
—
May 10, 1991
$500,000
Robert M Pennock
Unknown
Grant Deed
—
—
—
Earl L Miller
—
Deed Of Trust
related
$885,000 · Washington Mutual Fsb
—
—
Earl L Miller
—
Deed Of Trust
related
$1,625,000 · Frontier Bank
—
—
Earl L Miller
—
Deed Of Trust
related
$447,293 · Frontier Bank
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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