240 Shannon Drive SE · Bainbridge Island, WA 98110
Source: NWMLS · Windermere RE Bainbridge · Jan Johnson #NWM2552635
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).
Location
Basics
- Property type
- Land
- Style
- Res-Less thn 1 Ac
- Lot size
- 7,841 sq ft (0.18 acres)
- County
- Kitsap
- MLS #
- NWM2552635
Interior
- Heating
- None
- Cooling
- None
Exterior & lot
- Lot features
- Corner Lot
- Topography
- Level
- Waterfront
- No
Utilities
- Water
- In Street
- Sewer
- In Street
- Utilities
- Electricity Available
Community & fees
- Subdivision
- Bainbridge Island
- Community features
- Boat Launch, Park
- Property tax
- $5,936 (2026)
Transaction
- Listed on
- Jul 13, 2026
- Days active
- 117
- Listing terms
- Cash
- Possession
- Subject To Tenant Rights
More homes nearby
Schools
School district: Bainbridge Island
- Elementary
- Buyer To Verify
- Middle
- Woodward Mid
- High
- Bainbridge High SchoolSchoolDigger 5 stars · Top 2% in WA
Listing provided courtesy of: Windermere RE Bainbridge
Listing agent: Jan Johnson.
Based on information submitted to the MLS GRID as of —. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. IDX information provided exclusively for consumers' personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed.
Data last updated 2026-09-30.