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Property profile & analytics
OFF-MARKET
Estimated value
$2,560,000
Banks
208 High School NE Rd Bainbridge Island, WA 98110-1628
Entity Owned
Free & Clear
Property ID
US90-1661693
Property profile
Verified
Property type
Banks
Use group
FINANCIAL BUILDING
Year built
1993
Total area
5,926 SF
Lot
0.61 ac (26,572 SF)
Zoning code
CITY
APN
232502-3-045-2009
UPID
US90-1661693
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
$2.53M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$2.56M
Owner & transaction history
Wafd Bank
Wafd Bank
since 2026
Last sale
$2.6M
3 recorded transactions
Zoning & alternative use
CITY · Bainbridge Island, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$1.7M
+324.0%
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
$2,520,000
ML approach
$2,530,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RETAIL STORES
$1,680,000
Change: +324% · Conversion: Difficult
Blend value · Realmo final
$2.56M
Range $2.30M – $2.82M · ±10% · vs last sale $2.60M (Jan 30 2025)
Last sale anchor
$2.60M
Jan 30 2025
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
$432 / 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
$13,066
Tax year 2024
Assessed value
$1,736,450
Assessed 2024
Previous assessed
$1,736,450
+0.0% YoY
Effective rate
0.75%
On assessed value
Assessed land
$1,445,400
Assessed improvement
$291,050
Land market value
$1,445,400
Improvement market value
$291,050
Total market value
$1,736,450
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
Banks
Use group
FINANCIAL BUILDING
Status
Off-Market
Year built
1993
Heating
YES
Stories
2
Total area
5,926 SF
Lot
0.61 ac (26,572 SF)
Zoning code
CITY
APN
232502-3-045-2009
UPID
US90-1661693
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
Est. value
$1.7M
RETAIL STORES
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
1993
Heating
YES
Stories
2
Lot
0.61 ac
Current owner
From public records · entity-resolved
Wafd Bank
Entity
Free & Clear · 0 yrs held
Mailing address
PO BOX 2156, TACOMA, WA 98401-2156
Ownership since
2026
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 5, 2026
$2,800,000
Wafd Bank
Mal LP
Warranty Deed
—
Jan 30, 2025
$2,600,000
Mal LP
Umpqua Bank
Bargain & Sale Deed
—
Jul 27, 1989
$264,600
American Marine Bank
Unknown
Grant Deed
related
—
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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