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818 Madison Ave N 6,600 SF 100% Leased Office Building Bainbridge Island, WA 98110 $2,450,000 ($371.21/SF) 5.66% Cap Rate
EXECUTIVE SUMMARY
Price Reduced! This is the first time the 818 Madison Building has come to market. A community landmark, the building was designed and built by local favorites and is of exceptional quality in an unbeatable location. This custom-built multi-tenant office building provides a unique opportunity to own a proven performer. Current tenants provide various services, from medical providers to business accounting services.
FINANCIAL SUMMARY (ACTUAL - 2023) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$190,493
|
$28.86
|
| Other Income |
$4,500
|
$0.68
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$194,993
|
$29.54
|
| Taxes |
$16,000
|
$2.42
|
| Operating Expenses |
$40,570
|
$6.15
|
| Total Expenses |
$56,570
|
$8.57
|
| Net Operating Income |
$138,423
|
$20.97
|
FINANCIAL SUMMARY (ACTUAL - 2023)
| Gross Rental Income | |
|---|---|
| Annual | $190,493 |
| Annual Per SF | $28.86 |
| Other Income | |
|---|---|
| Annual | $4,500 |
| Annual Per SF | $0.68 |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $194,993 |
| Annual Per SF | $29.54 |
| Taxes | |
|---|---|
| Annual | $16,000 |
| Annual Per SF | $2.42 |
| Operating Expenses | |
|---|---|
| Annual | $40,570 |
| Annual Per SF | $6.15 |
| Total Expenses | |
|---|---|
| Annual | $56,570 |
| Annual Per SF | $8.57 |
| Net Operating Income | |
|---|---|
| Annual | $138,423 |
| Annual Per SF | $20.97 |
PROPERTY FACTS
Sale Type
Investment
Property Type
Office
Building Size
6,600 SF
Building Class
B
Year Built
2005
Price
$2,450,000
Price Per SF
$371.21
Cap Rate
5.66%
NOI
$138,650
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Typical Floor Size
3,300 SF
Building FAR
0.16
Lot Size
0.92 AC
Zoning
Commercial
Parking
39 Spaces (5.91 Spaces per 1,000 SF Leased)
MAJOR TENANTS
- TENANT
- INDUSTRY
- SF OCCUPIED
- RENT/SF
- LEASE END
- Davinci Physical Therapy
- Health Care and Social Assistance
- -
- -
- -
- Eagle Harbor CPA
- Professional, Scientific, and Technical Services
- -
- -
- -
- Northwest Family Psychology
- Health Care and Social Assistance
- -
- -
- -
- Sound Philanthropy
- Professional, Scientific, and Technical Services
- -
- -
- -
| TENANT | INDUSTRY | SF OCCUPIED | RENT/SF | LEASE END | ||
| Davinci Physical Therapy | Health Care and Social Assistance | - | - | - | ||
| Eagle Harbor CPA | Professional, Scientific, and Technical Services | - | - | - | ||
| Northwest Family Psychology | Health Care and Social Assistance | - | - | - | ||
| Sound Philanthropy | Professional, Scientific, and Technical Services | - | - | - |
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Walk Score®
Very Walkable (81)
Bike Score®
Very Bikeable (77)
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818 Madison Ave N
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