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+12534953939
Real Broker LLC
240 Shannon Drive SE, Bainbridge Island, WA 98110
- $1,400,000
Listing Broker: Windermere RE Bainbridge; Jan Johnson; 206-371-8792; janj@windermere.com
- List Price
- $1,400,000
- Status
- ACTIVE
- MLS#
- 2552635
- Days on Market
- 80
- Lot Size (sq ft)
- 7,841
Property Description
A rare opportunity! An income-generating Winslow corner lot near the Waterfront Park, Yacht Club, Senior Center, restaurants, shopping and Seattle Ferries. This coveted low maintenance location is currently occupied as a Ground Lease for the USPS parking lot. In the meantime, enjoy your strategic land bank investment backed by a secure Federal lease paying out a 4.11% annual return (plus tax reimbursement) till May of 2032, while making use of your time with designs and local governance zoning permits over the next few years. Seller's sketch for 'possibly' a 4-story/16 unit apartment complex to include an additional 7 offsite parking spots, is available. (CORE/Town Centr/Madison Overlay on the COBI website).
Additional Information
- Community
- Bainbridge Island
- Style
- 40 - Res-Less thn 1 Ac
- Zoning Jurisdiction
- City
- Features
- Partially Cleared
- Sewer
- In Street
- Tax Year
- 2026
- School District
- Bainbridge Island
- Elementary School
- Buyer To Verify
- Middle School
- Woodward Mid
- High School
- Bainbridge Isl
- Potential Terms
- Cash
- Driving Directions
- Off Ferry, Left on Winslow Way to Madison, Left to Bjune Drive & take a Left to lot on the SE corner of Bjune Drive and Shannon Drive. Driveway into lot off Shannon.
Based on information submitted to the MLS GRID as of . All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.IDX information is provided exclusively for consumers’ personal noncommercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.