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6455 Fletcher Bay - Storage 98110 54,775 SF Specialty Building Offered For Sale in Bainbridge Island, WA 98110
Investment Highlights
- Existing Cash Flow Facility with New 2023 Built Addition
- Rental rates will continue to rise with a fully occupied market and capped supply.
- No New Competition // Bainbridge Island Zoned Out Self-Storage
Executive Summary
Storage 98110 offers a truly once-in-a-generation opportunity to acquire the last self-storage facility ever built on Bainbridge Island. The newly constructed 54,775 SF facility sits on 2.36 acres of land on the main through-fare 1 mile from downtown. The City of Bainbridge Island enacted a moratorium on self-storage development that has since become a permanent zoning restriction.
No new developments are feasible on the island. Rental rates will continue to rise with a fully occupied market and capped supply.
Storage 98110 is the only Class A and fully climate-controlled facility on the island.
Link to City of Bainbridge Zoning:
https://www.codepublishing.com/WA/BainbridgeIsland/html/BainbridgeIsland18/BainbridgeIsland1809.html#18.09
Over 225 new housing units will be built by 2025.
No new developments are feasible on the island. Rental rates will continue to rise with a fully occupied market and capped supply.
Storage 98110 is the only Class A and fully climate-controlled facility on the island.
Link to City of Bainbridge Zoning:
https://www.codepublishing.com/WA/BainbridgeIsland/html/BainbridgeIsland18/BainbridgeIsland1809.html#18.09
Over 225 new housing units will be built by 2025.
Data Room Click Here to Access
- Operating and Financials
- Investigations
Financial Summary (Pro Forma - 2024) Click Here to Access |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Pro Forma - 2024) Click Here to Access
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Sale Type | Investment | Lot Size | 2.36 AC |
| Sale Condition | 1031 Exchange | Building Size | 54,775 SF |
| Property Type | Specialty | No. Stories | 2 |
| Property Subtype | Self-Storage | Year Built/Renovated | 2018/2023 |
| Building Class | B | Parking Ratio | 0.18/1,000 SF |
| Zoning | LM - LM Bainbridge Island. No other viable LM parcels exist for self-storage construction on island. | ||
| Sale Type | Investment |
| Sale Condition | 1031 Exchange |
| Property Type | Specialty |
| Property Subtype | Self-Storage |
| Building Class | B |
| Lot Size | 2.36 AC |
| Building Size | 54,775 SF |
| No. Stories | 2 |
| Year Built/Renovated | 2018/2023 |
| Parking Ratio | 0.18/1,000 SF |
| Zoning | LM - LM Bainbridge Island. No other viable LM parcels exist for self-storage construction on island. |
Amenities
- Property Manager on Site
- Signage
1 1
Somewhat walkable
20/100
Exceptionally drivable
90/100
Minimal public transit
10/100
Moderately bikeable
70/100
Property Taxes
| Parcel Number | 4178-000-041-02-07 | Total Assessment | $1,675,922 CAD (2026) |
| Land Assessment | $422,624 CAD (2026) | Annual Taxes | -$1 CAD ($0.00 CAD/SF) |
| Improvements Assessment | $1,253,298 CAD (2026) | Tax Year | 2024 |
Property Taxes
Parcel Number
4178-000-041-02-07
Land Assessment
$422,624 CAD (2026)
Improvements Assessment
$1,253,298 CAD (2026)
Total Assessment
$1,675,922 CAD (2026)
Annual Taxes
-$1 CAD ($0.00 CAD/SF)
Tax Year
2024
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6455 Fletcher Bay - Storage 98110
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