Entity Owned Property summary
AI-generated overview
The Cove, located at 278 Winslow Way E, Bainbridge Island, WA 98110, presents a remarkable opportunity for retail or restaurant businesses. This two-story building, completely renovated in 2024, offers single-tenant spaces ranging from 400 to 2,500 square feet. Its prime location in the heart of Bainbridge Island ensures high visibility and foot traffic, benefiting from a steady stream of both local residents and tourists. The building features convenient elevator access. Ideal for a variety of retail concepts, from boutiques and specialty shops to trendy cafes, The Cove provides an exceptional setting to establish or expand a business within a thriving community. This is a high-traffic location offering premium retail spaces for lease, making it an unparalleled opportunity to capitalize on the vibrant atmosphere of Bainbridge Island. The property's central location guarantees maximum exposure and provides an ideal environment for businesses to flourish. Don't miss this chance to secure your space in this newly renovated, highly desirable location.
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
1951
Total area
12,021 SF
Lot
0.53 ac (23,087 SF)
Zoning code
CITY
APN
262502-3-174-2009
UPID
US90-2188917
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Art Gallery
-
(Bike/Boat/Book/etc) Store
-
Restaurant
-
Restaurant
-
Interior Design Home Decor Store
Location
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$8.17M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$8.15M
Owner & transaction history
since 2021
Last sale
$7.2M
1 recorded transaction
Zoning & alternative use
CITY · Bainbridge Island, WA
Top alternative use upside
Restaurant
$6.3M
+105.7%
Commercial (general)
$6.1M
+98.3%
Auto repair, garage
$4.9M
+61.3%
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
Value estimation
Instant AI valuation built from comps, income signals, and proprietary benchmarks. A defensible range, not a single guess.
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Full NOI reconstruction, selected comps, alternative-use scenarios, data audit and PDF export.
4 alternative uses screened
Sensitivity value band
Source audit · 6 inputs
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Summary
1
Valuation conclusion
Included free
Estimated market value
$8.15M
Value range
$7.34M – $8.97M
±10% around blend
Estimated value / SF
$678 / SF
Confidence
Property data
100
Market benchmarks
33
Comparable evidence
60
$7.34M
blend $8.15M
$8.97M
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
12,021 SF
Lot area
0.53 ac
Year built
1951
Stories
2
APN
262502-3-174-2009
Zoning
CITY
Assessed value
$3,521,690
Annual tax
$26,500
3
Income approach: direct capitalization
Partial preview
Not enough income data on file for a CAP-approach estimation.
4
Sales comparison
Partial preview
Too few qualifying comparables for a sales-approach estimation.
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$8.15M
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Current market position
Included free
Benchmark
Observed band ($/SF)AverageSubject delta
County 30 sales
$255
+166%
Band = middle half (Q1–Q3) of recorded sale $/SF for this use type per geography; the diamond marks the subject at $678/SF. Delta below average reads as headroom. Source: Realmo CRE sales derivatives (county records).
7
Alternative use screening
Partial preview
Top alternative use
Restaurant
Gross theoretical uplift
+106%
vs current-use indication
Commercial (general)
Auto Repair, Garage
Retail Stores
Values shown before conversion costs, entitlement costs, capital expenditures and stabilization risk.
8
Data & methodology
Included free
Building area
County record
Property tax
County record
Assessed value
County record
Zoning designation
County record
Operating expenses
Not available
Market rent
Not available
Not analyzed due to unavailable source data: actual rent roll, tenant leases, physical condition and capital
requirements are outside a desktop analysis.
Cost Approach excluded: replacement-cost inputs are not on file.
Automated valuation analysis, not a licensed appraisal. Figures are derived from public
records and proprietary models. Desktop analysis: no physical inspection, tenant leases or reported
property income. Verify with a licensed appraiser before transacting.
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
Unlock the complete Cap Rate workflow
Full market tables, editable assumptions, comparable evidence, saved work and exports.
9-scenario matrix
Market rates by use type
PDF export
Professional Plan · 30 reports
from $99/month
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Overview
Implied cap rate
2.50%
Implied, in-place cap rate for this strip malls
Estimated NOI ÷ last recorded sale. Refine with your own numbers in the full report.
NOI (est.)
$502k *
Last sale · Nov 2021
$7.18M
* derived from a real price signal at a 7% cap
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Test a cap rate
Implied value$20.09M
Move the market yield to see immediate price impact.
Value / SF
$1,671
Vs. selected
Base
Derivation
NOI ÷ cap
Arithmetic over the derived NOI * — not market scenario modeling.
NOI × cap matrix
Preview
Preview of 9 modeled outcomes.
NOI
2.00%2.50%3.00%
$452k
$22.60M
$18.08M
$15.07M
$502k
$25.11M
$20.09M
$16.74M
$552k
$27.62M
$22.10M
$18.42M
NOI sensitivity ±10% across the selected-rate band (±0.5 pp) — derivation of the NOI above.
Property tax & assessments
Tax year 2024Property tax & assessments
Tax year 2024
Tax billed
$26,500
Tax year 2024
Assessed value
$3,521,690
Assessed 2024
Previous assessed
$3,531,660
-0.3% YoY
Effective rate
0.75%
On assessed value
Assessed land
$960,930
Assessed improvement
$2,560,760
Land market value
$960,930
Improvement market value
$2,560,760
Total market value
$3,521,690
Applied tax rate
215.0000
Automated cap rate analysis. Based on public records, market benchmarks and proprietary
models. Verify with a licensed professional before transacting.
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
Off-Market
Year built
1951
Heating
NONE
Buildings
2
Stories
2
Total area
12,021 SF
Lot
0.53 ac (23,087 SF)
Zoning code
CITY
APN
262502-3-174-2009
UPID
US90-2188917
Jurisdiction
KITSAP
Zoning & alternative use
CITY · Bainbridge Island, WAZoning CITY · permitted uses
CITY · Bainbridge Island, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Alternative use value scenarios
Repositioning upside vs current use
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Building & site characteristics
From public records
Year built
1951
Heating
NONE
Stories
2
Buildings
2
Lot
0.53 ac
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
County-recorded code
CITY
Jurisdiction
Bainbridge Island, WA
Recorded code
CITY
Zoning Insight
What can be built and operated here — officially.
The district profile from the municipal source: what is on file for CITY in Bainbridge Island, WA.
What opens after registration
Zoning profile
Official documentVerified municipal sources with file download
Match provenanceAssignment basis, match tier and confidence
Private report access
See the official zoning profile for this address.
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Ownership Intelligence
Find the owner behind the property.
Unlock the evidence behind ownership: portfolio, transactions, debt and signals that help you decide who to contact next.
What opens after registration
Ownership report
Owner identityResolved entity and name variants
Portfolio holdingsLinked properties and estimated value
Deal signalsSell-side activity worth following
Debt & historyRecorded loans and transaction history
Private report access
See the ownership record for this address.
Registration is required before any owner information is shown.
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Owner of record and activity signals are derived from public records and modeled classifications.
They do not confirm beneficial ownership or intent to transact.
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