240 Shannon Drive Se #Lot 7, Bainbridge Island, WA 98110

Bainbridge Island
Local realty services provided by:Better Homes and Gardens Real Estate Pacific Commons
Listed by: jan johnson
Office: windermere re bainbridge206-842-5626
MLS#:2552635
Source:NWMLS
240 Shannon Drive Se #Lot 7,Bainbridge Island, WA 98110
$1,400,000
  • 0.18 Acres
  • Lots / Land
  • Active

Price summary

  • Price:$1,400,000

About this home

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).

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Home facts

  • Subdivision & Development:Bainbridge Island
  • Listing ID #:2552635
  • Updated:November 09, 2026 at 01:23 AM

Structure and exterior

  • Lot area:0.18 Acres
  • Lot Features:Corner

Schools

  • High school:Bainbridge Isl
  • Middle school:Woodward Mid
  • Elementary school:Buyer To Verify

Utilities

  • Water:In Street
  • Sewer:In Street

Finances and disclosures

  • Price:$1,400,000
  • Tax amount:$5,936 (2026)
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