For Sale
$926,000

490 Madison Ave Bainbridge Island, WA 98110

Bainbridge Island Office Condo, 3 Units

Property Records

Overview

Added:
Dec 11, 2024
Days on market:
138
This exceptional Class A commercial office condo, located at 490 Madison Ave N, Bainbridge Island, WA 98110, presents a unique owner-user opportunity. The 2,149 square foot space features a stylish three-office suite with custom finishes, including a conference room, reception area, and kitchenette. Built in 1990 and renovated in 2000, this multi-tenant property boasts a strong net operating income (NOI) of $50,339, yielding a 5.44% cap rate. The property is currently configured with three tenants, with the owner occupying 1,367 square feet and leasing the remaining 781 square feet. A spacious basement provides ample storage or additional creative workspace. The property is zoned for mixed use and offers seller financing. This is an ideal investment for businesses seeking to own their space, offering both income generation and the benefits of a prime Bainbridge Island location. The asking price is $926,000, with a price per square foot of $430.90. The property features a gross lease type. The APN is 8106-000-105-0109.

Highlights

  • Prime 2,148 sq. ft. office condo for sale in Bainbridge Island's central business district.
  • Stylish three-office suite with custom finishes, conference room, reception area, and kitchenette.
  • Includes a spacious basement, ideal for storage or additional workspace.
  • Currently generating income with two tenants occupying 781 sq. ft. of the 2,148 sq. ft. total space.
  • Excellent owner-user opportunity with seller financing available.

Property Details for 490 Madison Ave

Property type
Office properties, Office space
Square Feet
2,149 SF
Class
A
Year Built/Renovated
1990/2000
Units
3

Location Insight

City
Bainbridge Island
County
Kitsap
State
Washington
Latitude
47.628318165017
Longitude
-122.52096010819

FAQs

What type of property is this?
Office property - Bainbridge Island Office Condo, 3 Units
Where is the office property located?
The property is located at 490 Madison Ave Bainbridge Island, WA.
What is the asking price?
The asking price for this property is $926,000.
What are key features of this property?
This property features: Prime 2,148 sq. ft. office condo for sale in Bainbridge Island's central business district.; Stylish three-office suite with custom finishes, conference room, reception area, and kitchenette.; Includes a spacious basement, ideal for storage or additional workspace.
How can I contact the broker?
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490 Madison Ave
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