Add Listing
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

    502 Cave NE Ave Bainbridge Island, WA 98110-1941

    • Day care centers
    • 2,516 SF
    • 1.19 lot acres
    OFF-MARKET
    Last Sale
    Jul 21, 2025
    $880,000
    Value Estimations
    $885,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US90-0857209
    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

    • Day care centers

    Property Details for 502 Cave NE Ave

    Year built
    1978
    Lot size
    1.19 lot acres
    Property size
    2,516 SF
    Zone code
    CITY
    Property type
    Day care centers
    APN
    262502-2-068-2000
    APU
    26250220682000

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $893,000
      Market price range: $566k - $1.76M

    • Alternative Use

      Use
      Estimation
      COLLEGE, UNIVERSITY, VOCATIONAL SCHOOL - PRIVATE
      $940,000
      Current use
      COMMERCIAL (GENERAL)
      $1,275,000
      Change: +36% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $1,035,000
      Change: +10% Conversion: Difficult
      RETAIL STORES
      $1,010,000
      Change: +8% Conversion: Difficult
      OFFICE BUILDING
      $890,000
      Change: -5% Conversion: Difficult
      MEDICAL BUILDING
      $865,000
      Change: -8% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Bainbridge Island
    County
    Kitsap
    State
    Washington
    Longitude
    -122.513
    Latitude
    47.6289
    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
    $0.00
    $452,770
    $380,480
    $833,250
    -
    $452,770
    $380,480
    $833,250

    Comparable in this City

    • Value Estimation by Request
      1,564 SF

      501 Cave NE Ave

      DAY CARE, PRE-SCHOOL • 1,564 SF
      501 Cave NE Ave, Bainbridge Island, WA 98110-1940
      View Details
    • Value Estimation
      $1,350,000
      6,000 SF

      621 High School NW Rd

      DAY CARE, PRE-SCHOOL • 6,000 SF
      621 High School NW Rd, Bainbridge Island, WA 98110-2683
      View Details
    • Value Estimation
      $1,335,000
      2,740 SF

      800 Ericksen NE Ave

      VETERINARY, ANIMAL HOSPITAL • 2,740 SF
      800 Ericksen NE Ave, Bainbridge Island, WA 98110-1868
      View Details
    • Value Estimation
      $565,000
      6,732 SF

      7879 Pitts Path NE Ln

      PROFESSIONAL CLUBS/ASSOCIATIONS • 6,732 SF
      7879 Pitts Path NE Ln, Bainbridge Island, WA 98110-4529
      View Details
    • Value Estimation by Request
      3,020 SF

      8355 Day E Rd

      VETERINARY, ANIMAL HOSPITAL • 3,020 SF
      8355 Day E Rd, Bainbridge Island, WA 98110-4359
      View Details
    • Value Estimation by Request
      11,500 SF

      9191 Moran Rd

      Churches & religious facilities • 11,500 SF
      9191 Moran Rd, Bainbridge Island, WA 98110
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Versatile Unit with Unique Amenities

      Adaptable commercial unit featuring kitchen, fireplace, and fitness area.
      360 Knechtel Way 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
    • $4,900,000
      1,817 SF

      Waterfront Redevelopment Opportunity

      Waterfront property with redevelopment potential, marina, and restaurant/pub.
      231 Parfitt Way SW, Bainbridge Island, WA 98110
      View Details
    • $8,050,000

      Bainbridge Island Industrial Land Opportunity

      Rare industrial land for sale near downtown Bainbridge Island.
      9300 New Brooklyn Rd NE, Bainbridge Island, WA 98110
      View Details
    • $545,000
      1,313 SF

      Fully Leased Mixed-Use Condo

      Leased medical and retail space in mixed-use complex.
      123 Bjune Dr SW, Bainbridge Island, WA 98110
      View Details
    • Contact for pricing

      Historic Bainbridge Island Development Opportunity

      7.32-acre parcel with development potential and historic significance.
      11000 Highway 305 Ne, Bainbridge Island, WA 98110
      View Details

    Similar Nearby for Lease

    • $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
    • $22 SF/Yr
      463 SF

      Bright Office Space on Winslow

      Inviting office space with natural light on Winslow Way.
      265 Winslow Way E, Bainbridge Island, WA 98110
      View Details
    • $27 SF/Yr
      363 SF

      Ericksen Avenue NE Office Space

      Private office space in well-maintained medical/office building.
      727 Ericksen Ave NE, Bainbridge Island, WA 98110
      View Details
    • $2,095 /Mo
      852 SF

      Downtown Winslow Office Space

      Office space in downtown Winslow suitable for professional services.
      145 Finch Rd SW, Bainbridge Island, WA 98110
      View Details
    • $11,270 /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
    • $1,676 /Mo
      551 SF

      Waterfront Office Space Available

      Office space with waterfront and Seattle skyline views for lease.
      330 Madison Ave S, 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.
    502 Cave NE Ave
    Bainbridge Island, WA 98110-1941
    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.
    Sign Up Successful!
    You now have access to more from Realmo!