$1,400,000
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).
2552635
MLS
⋅
ACTIVE
Status
240 Shannon Drive SE, Bainbridge Island
Listing Broker: Windermere RE Bainbridge; Jan Johnson; 206-371-8792; janj@windermere.com
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