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818 Madison Ave N 6,600 SF 100% Leased Office Building Bainbridge Island, WA 98110 $3,272,784 CAD ($495.88 CAD/SF) 5.58% Cap Rate
Executive Summary
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 |
$259,768
|
$39.36
|
| Other Income |
$6,136
|
$0.93
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$265,904
|
$40.29
|
| Taxes |
$21,819
|
$3.31
|
| Operating Expenses |
$55,324
|
$8.38
|
| Total Expenses |
$77,142
|
$11.69
|
| Net Operating Income |
$188,762
|
$28.60
|
Financial Summary (Actual - 2023)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $259,768 |
| Annual Per SF | $39.36 |
| Other Income (CAD) | |
|---|---|
| Annual | $6,136 |
| Annual Per SF | $0.93 |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $265,904 |
| Annual Per SF | $40.29 |
| Taxes (CAD) | |
|---|---|
| Annual | $21,819 |
| Annual Per SF | $3.31 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $55,324 |
| Annual Per SF | $8.38 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $77,142 |
| Annual Per SF | $11.69 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $188,762 |
| Annual Per SF | $28.60 |
Property Facts
Sale Type
Investment
Property Type
Office
Building Size
6,600 SF
Building Class
B
Year Built
2005
Price
$3,272,784 CAD
Price Per SF
$495.88 CAD
Cap Rate
5.58%
NOI
$182,730 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 | - | - | - |
1 1
Fairly walkable
50/100
Moderately drivable
70/100
Limited public transit
30/100
Moderately bikeable
60/100
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818 Madison Ave N
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