Mixed-Use
Bainbridge Portfolio | Highly Affluent Seattle MSA Suburb
931 Hildebrand Ln NE, Bainbridge Island, WA 98110
Listing Price: Request For Offer
Investment Overview
The Bainbridge Portfolio features a combination of multi-family and commercial properties within Bainbridge Island and Poulsbo, Washington. The portfolio is made up of the Camelia and Tormey Apartments, the Bainbridge Health & Wellness Center (BHWC) and Liberty Center.
Camelia and Tormey Apartments is 71 units totaling 65,063 square feet. Built in 2003 and 2006, the unit
mix is 4 studio, 13 one-bedroom, 36 two-bedroom, and 18 three-bedroom units. Unit amenities include washer, dryer, hardwood, carpet, deck, and extra storage. Community amenities include bike storage,
covered parking, on-site management, and maintenance.
The Bainbridge Health & Wellness Campus includes a mix of ten commercial buildings totaling 65,232
square feet and occupied by primarily healthcare and medical businesses. Immediately adjacent to a
Safeway-anchored retail center, the BHWC is located in the heart of the island’s daily-needs, commercial
core. BHWC was built between 1999 and 2004, and the buildings offer excellent access, parking,
quality construction, and efficiency in management. Every building is either one or two stories tall and
the entirety of this part of the portfolio is situated on approximately 3.53 acres.
Liberty Center consists of three buildings with a blend of retail, financial & professional services
and other commercial uses, and is located on a corner-parcel at the primary intersection in Poulsbo’s
commercial district. Two of the buildings were constructed in 1991 while the third was built in 2001, and together total 30,264 square feet. Liberty Center is situated on approximately 2.02 acres of
land and provides an abundance of surface parking as well as excellent access and visibility to Highway
305.
Both Bainbridge Island and Poulsbo are affluent suburbs on the islands and peninsulas just west of Seattle. The property presents an investor with an excellent opportunity to acquire a significant percentage of the commercial market in these two rapidly expanding markets within close proximity to Downtown Seattle.
Bainbridge Portfolio | Highly Affluent Seattle MSA Suburb
Investment Highlights
- Trophy and generational investment opportunity consisting of two multi-family parcels and five commercial parcels in the affluent and growing Bainbridge Island and Poulsbo markets.
- Between 2018 - 2022, the property has seen a steady increase in NOI every year, and experienced a total NOI growth of approximately 20% over the same period of time.
- The lack of commercially zoned and buildable sites, in conjunction with extremely low sales velocity and the City of Bainbridge Island's restrictions on new development create tremendous barriers.
- 7 miles west of Seattle, Bainbridge Island is easily accessible via 35-minute ferry, which is the most frequently used and highest-rider-volume ferry in Washington State.
- In-place loan with 4.53% interest rate may be assumed by buyer. See OM for additional details and terms.
- Seattle and Eastside markets headquarters or has a large presence from Amazon, Microsoft, Google, Meta, Boeing, Alaska Airlines, Starbucks, Nordstrom, Alaska Airlines, Costco, T-Mobile, the Gates Foundation and many more of the state's largest public and private companies.
Exclusively Listed By
Mixed-Use
Bainbridge Portfolio | Highly Affluent Seattle MSA Suburb
Listing Price: Request For Offer
Investment Highlights
- Trophy and generational investment opportunity consisting of two multi-family parcels and five commercial parcels in the affluent and growing Bainbridge Island and Poulsbo markets.
- Between 2018 - 2022, the property has seen a steady increase in NOI every year, and experienced a total NOI growth of approximately 20% over the same period of time.
- The lack of commercially zoned and buildable sites, in conjunction with extremely low sales velocity and the City of Bainbridge Island's restrictions on new development create tremendous barriers.
- 7 miles west of Seattle, Bainbridge Island is easily accessible via 35-minute ferry, which is the most frequently used and highest-rider-volume ferry in Washington State.
- In-place loan with 4.53% interest rate may be assumed by buyer. See OM for additional details and terms.
- Seattle and Eastside markets headquarters or has a large presence from Amazon, Microsoft, Google, Meta, Boeing, Alaska Airlines, Starbucks, Nordstrom, Alaska Airlines, Costco, T-Mobile, the Gates Foundation and many more of the state's largest public and private companies.
Investment Overview
The Bainbridge Portfolio features a combination of multi-family and commercial properties within Bainbridge Island and Poulsbo, Washington. The portfolio is made up of the Camelia and Tormey Apartments, the Bainbridge Health & Wellness Center (BHWC) and Liberty Center. Camelia and Tormey Apartments is 71 units totaling 65,063 square feet. Built in 2003 and 2006, the unit mix is 4 studio, 13 one-bedroom, 36 two-bedroom, and 18 three-bedroom units. Unit amenities include washer, dryer, hardwood, carpet, deck, and extra storage. Community amenities include bike storage, covered parking, on-site management, and maintenance. The Bainbridge Health & Wellness Campus includes a mix of ten commercial buildings totaling 65,232 square feet and occupied by primarily healthcare and medical businesses. Immediately adjacent to a Safeway-anchored retail center, the BHWC is located in the heart of the island’s daily-needs, commercial core. BHWC was built between 1999 and 2004, and the buildings offer excellent access, parking, quality construction, and efficiency in management. Every building is either one or two stories tall and the entirety of this part of the portfolio is situated on approximately 3.53 acres. Liberty Center consists of three buildings with a blend of retail, financial & professional services and other commercial uses, and is located on a corner-parcel at the primary intersection in Poulsbo’s commercial district. Two of the buildings were constructed in 1991 while the third was built in 2001, and together total 30,264 square feet. Liberty Center is situated on approximately 2.02 acres of land and provides an abundance of surface parking as well as excellent access and visibility to Highway 305. Both Bainbridge Island and Poulsbo are affluent suburbs on the islands and peninsulas just west of Seattle. The property presents an investor with an excellent opportunity to acquire a significant percentage of the commercial market in these two rapidly expanding markets within close proximity to Downtown Seattle.
Exclusively Listed By
