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818 Madison is a Class A, multi-tenant professional office building of 6,024 rentable square feet near the downtown Winslow core. Built in 2004 and recently remodeled, it’s leased across nine suites on a mix of NNN and gross leases with staggered expirations. Offered at $2,150,000 — a 6.3% cap on $136,099 of net operating income, or $357 a foot.
Nine suites leased across professional services, healthcare, accounting, and nonprofit use — staggered expirations, no single-tenant dependency.
Buyers pay a tighter cap and a higher per-foot price for a Bainbridge Island address than for Poulsbo or Silverdale. The $357 a foot reflects that.
Strict commercial zoning across the island holds down new office supply and supports rents and values over time.
Thirty-five minutes to downtown Seattle by Washington State Ferry — seven miles west of the core, but a self-contained regional market.
Thirty-five stalls — generous for the size of the building and rarely full. A real advantage for a Winslow-area office.
A 6.3% cap set right where comparable Kitsap office is actually selling — recent closings cluster between 6.25% and 6.50%.
Eight of the nine suites are leased, roughly 95% occupied. A single 314-square-foot suite is available — a new owner steps into dependable in-place income with a modest lease-up as the built-in upside. Thirty-five parking stalls serve the building.
Seven miles west of Seattle across Puget Sound — a commuter destination and a self-contained regional economy at once. The downtown Winslow retail core, the ferry terminal, and the restaurants are all a short distance from 818 Madison.
A 6.3% cap on $136,099 of net operating income — Class A construction, diversified island tenancy, and strict zoning that has held office supply in check for two decades. A market small enough to know every tenant by name.
I’d welcome your buyers and cooperate fully. Prefer to pull it from a listing service? Open 818 Madison on your platform.
CoStar / LoopNet coming soon.
Tell me a little about what you’re looking for and I’ll set up a tour — or send a client through. I’ll follow up personally.
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