Based on 3 reviews
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The team presents a compelling Class A office building near the Winslow core. The 6.3% cap rate seems competitive for the Bainbridge Island market. However, the mixed lease types and the one vacant suite suggest there is still work to be done. The parking advantage is significant, but potential buyers should verify the exact terms of the NNN leases before committing.
This Class A office property provides diversified income near the Winslow core. High occupancy and generous parking are clear advantages for long-term holding.
The 818 Madison Building offers dependable income with diverse tenants. The location near Winslow core and ample parking makes it attractive. Strong zoning supports long-term value for investors seeking stable returns.
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The 818 Madison Building is a Class A, multi-tenant professional office building located at 840 Madison Avenue N on Bainbridge Island, Washington. Built in 2004 and recently remodeled, the property contains 6,024 rentable square feet across nine suites, with eight currently leased to professional services, healthcare, accounting, and nonprofit tenants on a mix of NNN and gross leases. The building offers 35 parking stalls and is being marketed for sale as an investment property at an asking price of $2,150,000, reflecting a 6.3% cap rate on $136,099 in net operating income. The listing emphasizes the building's location near the downtown Winslow core and its ferry access to downtown Seattle.