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
- 75
- Lot Size (sq ft)
- 7,841
Property Description
A rare opportunity to acquire a prime, income-generating Winslow corner lot near the Waterfront Park, Yacht Club, Senior Center, restaurants, shopping and Seattle Ferries. Call listing agent for a copy of local architect Charlie Wenzlau's feasibility sketch, representing potential for a 4-story/16 unit apartment complex which includes an additional 7-units of offsite parking. This coveted low maintenance location is currently occupied as a USPS parking lot, so enjoy your strategic land bank investment which is backed by a secure ground lease paying out a 4.11% annual return (plus tax reimbursement), while making use of your time with designs, local governance zoning decisions and permits over the next few years. (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.
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