Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    278 Winslow Way Bainbridge Island, WA 98110

    • Strip malls
    • 12,021 SF
    • 0.53 lot acres
    For Lease
    View listing
    $30 SF/Yr
    Last Sale
    Nov 30, 2021
    $7,175,191
    Value Estimations
    $8,150,000
    Cap Rate Potential
    2.5%
    Strip malls
    Location Intelligence
    Property ID
    US90-2188917
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Strip malls

    Property Details for 278 Winslow Way

    Year built
    1951
    Lot size
    0.53 lot acres
    Property size
    12,021 SF
    Zone code
    CITY
    Property type
    Strip malls
    Property subtype
    Neighborhood centers
    APN
    262502-3-174-2009
    APU
    26250231742009

    Description

    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.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $8,150,000
      ML approach
      $8,170,000

    • Alternative Use

      Use
      Estimation
      RESTAURANT
      $6,310,000
      COMMERCIAL (GENERAL)
      $6,085,000
      AUTO REPAIR, GARAGE
      $4,945,000

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Bainbridge Island
    County
    Kitsap
    State
    Washington
    Longitude
    -122.519
    Latitude
    47.6252
    CBSA code
    14740
    CBSA name
    BREMERTON-SILVERDALE, WA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2024
    $26,500
    $960,930
    $2,560,760
    $3,521,690
    -
    $960,930
    $2,560,760
    $3,521,690

    Comparable in this City

    • Value Estimation
      $1,135,000
      12,020 SF

      275 High School NE Rd

      SHOPPING CENTER, STRIP CENTER • 12,020 SF
      275 High School NE Rd, Bainbridge Island, WA 98110-3665
      View Details
    • Value Estimation
      $8,150,000
      3,367 SF

      256 Winslow E Way

      SHOPPING CENTER, STRIP CENTER • 3,367 SF
      256 Winslow E Way, Bainbridge Island, WA 98110-2430
      View Details
    • Value Estimation
      $380,000
      6,000 SF

      10320 Vly Rd

      SHOPPING CENTER, STRIP CENTER • 6,000 SF
      10320 Vly Rd, Bainbridge Island, WA 98110-4312
      View Details
    • Value Estimation
      $210,000
      4,800 SF

      8001 Day W Rd

      SHOPPING CENTER, STRIP CENTER • 4,800 SF
      8001 Day W Rd, Bainbridge Island, WA 98110-4208
      View Details
    • Value Estimation
      $1,040,000
      28,680 SF

      4569 Lynwood Ctr NE Rd

      SHOPPING CENTER, STRIP CENTER • 28,680 SF
      4569 Lynwood Ctr NE Rd, Bainbridge Island, WA 98110-2238
      View Details
    • Value Estimation
      $8,150,000
      5,451 SF

      290 Winslow E Way

      SHOPPING CENTER, STRIP CENTER • 5,451 SF
      290 Winslow E Way, Bainbridge Island, WA 98110-2430
      View Details

    Similar Nearby for Sale

    • $1,960,000

      Rolling Bay Retail Center Investment

      Multi-tenant retail center with development potential in Rolling Bay.
      10320 NE Valley Rd, Bainbridge Island, WA 98110
      View Details
    • $5,980,000

      Waterfront Redevelopment Site and Marina

      Prime waterfront property with redevelopment potential and existing marina.
      231 Parfitt Way SW, Bainbridge Island, WA 98110
      View Details
    • $545,000
      1,313 SF

      Fully Leased Mixed-Use Condo Unit

      Leased medical and retail space in a mixed-use condominium complex.
      123 Bjune Dr SW, Bainbridge Island, WA 98110
      View Details
    • $3,125,000
      9,654 SF

      Bainbridge Island Commercial Building

      Office and retail center centrally located on Bainbridge Island.
      901 Hildebrand Ln NE, Bainbridge Island, WA 98110
      View Details
    • $985,000
      2,049 SF

      Harbor Square Corner Office Space

      Corner office space near Bainbridge Island ferry terminal with parking.
      776 Winslow Way E, Bainbridge Island, WA 98110
      View Details
    • $2,450,000
      6,696 SF

      Class A Office Building Investment

      Fully occupied Class A office building with stable tenants.
      818 Madison Ave N, Bainbridge Island, WA 98110
      View Details

    Similar Nearby for Lease

    • $30 SF/Yr
      2,500 SF

      The Cove: Bainbridge Island Retail

      Prime Retail Space, Winslow Way E
      278 Winslow Way, Bainbridge Island, WA 98110
      View Details
    • $32 SF/Yr
      2,500 SF

      Retail Space Available Immediately

      Retail space available immediately, approximately 2,500 square feet.
      403-499 Madison Ave N, Bainbridge Island, WA 98110
      View Details
    • $40 SF/Yr
      1,111 SF

      Bainbridge Island Retail Opportunity

      Prime retail/wine tasting room space on Bainbridge Island.
      380 Winslow Way E, Bainbridge Island, WA 98110
      View Details
    • $20 SF/Yr
      22,422 SF

      Bainbridge Island Retail Center

      Prime Retail Space, 5 Units Available
      945 Hildebrand Ln, Bainbridge Island, WA 98110
      View Details
    • $19 SF/Yr
      5,800 SF

      Bainbridge Island Industrial Space

      5,800 SF Manufacturing/Distribution
      8040 Day Rd, Bainbridge Island, WA 98110
      View Details
    • $16 SF/Yr
      4,761 SF

      Coppertop Park Flex Space

      Versatile 4,761 SF space in a convenient Bainbridge Island location.
      Sportsman Club Rd NE 9440, 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.
    278 Winslow Way
    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

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.