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Hildebrand Professional Bldg 911 Hildebrand Ln NE 11,621 SF Office Building Bainbridge Island, WA 98110 $2,225,000 ($191.46/SF)
Investment Highlights
- LOW BASIS WITH LEASE-UP OPPORTUNITY
- SUPPLY-CONSTRAINED MARKET
- DEMAND DRIVEN BY LOCAL OFFICE USERS AND HYBRID WORK PATTERNS
- SUBMARKET VACANCY REMAINS STRUCTURALLY CONSTRAINED DESPITE ASSET-LEVEL AVAILABILITY
- HIGH-INCOME DEMOGRAPHICS SUPPORT ABOVE-AVERAGE TENANT CREDIT AND RENT STABILITY
- STRATEGIC FERRY ACCESS EXPANDS TENANT POOL BEYOND IMMEDIATE SUBMARKET
Executive Summary
Northmarq is pleased to present a rare opportunity to acquire an office asset in the highly supply-constrained Bainbridge Island submarket. Located at 911 Hildebrand, the property sits within one of the Puget Sound’s most affluent and tightly held commercial real estate markets, where limited developable land and strict zoning have resulted in a chronic shortage of office inventory. This lack of supply, combined with strong, consistent demand, supports longterm occupancy and rent growth.
Bainbridge Island is defined by its high-income, highly educated population and stable economic base, driving continued demand for local office space from professional and service-oriented tenants. With low vacancy, minimal turnover, and virtually no new development pipeline, the market offers a fundamentally undersupplied environment. This offering provides investors the opportunity to secure a foothold in a premier, demographically driven submarket with durable long-term fundamentals.
Bainbridge Island is defined by its high-income, highly educated population and stable economic base, driving continued demand for local office space from professional and service-oriented tenants. With low vacancy, minimal turnover, and virtually no new development pipeline, the market offers a fundamentally undersupplied environment. This offering provides investors the opportunity to secure a foothold in a premier, demographically driven submarket with durable long-term fundamentals.
Property Facts
Sale Type
Investment or Owner User
Property Type
Office
Property Subtype
Building Size
11,621 SF
Building Class
B
Year Built
1991
Price
$2,225,000
Price Per SF
$191.46
Tenancy
Multiple
Building Height
2 Stories
Typical Floor Size
5,811 SF
Slab To Slab
11’
Building FAR
0.31
Lot Size
0.86 AC
Zoning
High School Road I
Parking
42 Spaces (3.61 Spaces per 1,000 SF Leased)
1 1
Fairly walkable
50/100
Very drivable
80/100
Limited public transit
30/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 262502-2-085-2009 | Improvements Assessment | $1,120,720 |
| Land Assessment | $1,927,980 | Total Assessment | $3,048,700 |
Property Taxes
Parcel Number
262502-2-085-2009
Land Assessment
$1,927,980
Improvements Assessment
$1,120,720
Total Assessment
$3,048,700
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Hildebrand Professional Bldg | 911 Hildebrand Ln NE
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