Active · Land

240 Shannon Drive SE, Bainbridge Island, WA 98110-9998

Bainbridge Island, WA 98110

$1,400,000

— bedrooms · — bathrooms · 0 sq ft

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Listing provided by Windermere RE Bainbridge · MLS #2552635 · Active

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About this property

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).

Property details

Property type: Land
Lot size: 7,841 sq ft
Association dues: $0 · frequency not provided
Annual property tax: $5,936 (2026)
School district: Bainbridge Island

Listings courtesy of Northwest MLS as distributed by MLS GRID.

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