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Listed by:Windermere RE Bainbridge • Jan Johnson
$ 1,400,000
Est. payment /mo
Active
240 Shannon DR SE Bainbridge Island, WA 98110
7,841 Sqft Lot
UPDATED:
Key Details
Property Type Vacant Land
Sub Type Land
Listing Status Active
Purchase Type For Sale
Subdivision Bainbridge Island
MLS Listing ID 2552635
Style 40 - Res-Less thn 1 Ac
Annual Tax Amount $5,936
Lot Size 7,841 Sqft
Lot Dimensions irregular
Property Sub-Type Land
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).
Location
State WA
County Kitsap
Area 170 - Bainbridge Island
Interior
Fireplace false
Exterior
Community Features Boat Launch, Park
Utilities Available Electricity Available
View Y/N No
Building
Lot Description Corner Lot
Sewer In Street
Water In Street
Schools
Elementary Schools Buyer To Verify
Middle Schools Woodward Mid
High Schools Bainbridge Isl
School District Bainbridge Island
Others
Senior Community No
Acceptable Financing Cash
Listing Terms Cash
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