175 Parfitt WayBainbridge Island, WA 98110

Property Details for 175 Parfitt Way

Year built

2000

Lot size

0.55 AC

Property size (Sq ft)

24,000 SF

Property type

Office properties

Property subtype

Other office properties

Description

This exceptional Class A office building, located at 175 Parfitt Way SW on Bainbridge Island, Washington, presents a unique investment opportunity. The Parfitt Building, constructed in 2000 by Fairbank Construction Company and designed by Cutler-Anderson Architects, boasts 24,000 square feet of space across three stories, situated on a 0.55-acre lot. Currently operating at 100% occupancy with 25 tenants across 23 units, the building generates a strong net operating income (NOI) of $425,172, resulting in a compelling 5.45% cap rate. The asking price is $7,020,000, translating to $325 per square foot of net rentable area (16,320 sq ft). The property is zoned MUTC and features ample parking (4 spaces per 1,000 sq ft). Lease terms are NNN, and rent bumps are included. This multi-tenant building caters to creative and executive office needs, offering a rare opportunity to acquire a premier waterfront property in Winslow's vibrant urban shoreline. Seller financing may be considered under favorable terms. The property's APN numbers are 8119-000-000-0001

Location Insight

City

Bainbridge Island

County

Kitsap

State

Washington

Latitude

47.6222

Longitude

-122.522

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