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818 Madison Ave N 6,600 SF 100% Leased Office Building Bainbridge Island, WA 98110 $3,399,130 CAD ($515.02 CAD/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 (CAD) | ANNUAL PER SF (CAD) |
|---|---|---|
| Gross Rental Income |
$264,290
|
$40.04
|
| Other Income |
$6,243
|
$0.95
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$270,533
|
$40.99
|
| Taxes |
$22,198
|
$3.36
|
| Operating Expenses |
$56,287
|
$8.53
|
| Total Expenses |
$78,485
|
$11.89
|
| Net Operating Income |
$192,048
|
$29.10
|
FINANCIAL SUMMARY (ACTUAL - 2023)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $264,290 |
| Annual Per SF | $40.04 |
| Other Income (CAD) | |
|---|---|
| Annual | $6,243 |
| Annual Per SF | $0.95 |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $270,533 |
| Annual Per SF | $40.99 |
| Taxes (CAD) | |
|---|---|
| Annual | $22,198 |
| Annual Per SF | $3.36 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $56,287 |
| Annual Per SF | $8.53 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $78,485 |
| Annual Per SF | $11.89 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $192,048 |
| Annual Per SF | $29.10 |
PROPERTY FACTS
Sale Type
Investment
Property Type
Office
Building Size
6,600 SF
Building Class
B
Year Built
2005
Price
$3,399,130 CAD
Price Per SF
$515.02 CAD
Cap Rate
5.66%
NOI
$192,363 CAD
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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