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Brett Bonner

brettbonner@brettbonner.com +1(253) 606-0578

Listed by:Windermere Real Estate Midtown • Lauren Hendricks

$ 2,500,000

Est. payment | -/mo

0.28 Acres Lot

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$ 2,500,000

Est. payment | -/mo

Save

0.28 Acres Lot

Key Details

Property Type Commercial

Sub Type Commercial Industrial

Listing Status Pending

Purchase Type For Sale

Subdivision Magnolia

MLS Listing ID 2321503

Style 61 - Comm Bldg Ovr 10K

Year Built 1979

Annual Tax Amount $45,257

Lot Size 0.275 Acres

Lot Dimensions 100 x 120

Property Sub-Type Commercial Industrial

Property Description

Remodeled 4-story office building featuring a secured lobby entrance, 23+ off-street parking spaces, building conference room, shower facility, hospital grade HEPA filtration system and incredible views of the Ship Canal and Fisherman's Terminal from every floor. Great location close to Vertical World Climbing Gym, Discovery Park, and many great restaurants and breweries. This is an excellent opportunity for an investor or an owner-user to acquire an updated property with stabilized income from long-term tenants with below market rents. Flexible leases allowing a new owner to occupy a portion or all of the building. 4.6% cap rate based on current income and 62% occupancy. Actual 10%+ cap rate with 90% occupancy. Please don't disturb current tenants.

Location

State WA

County King

Area 700 - Queen Anne/Magnolia

Interior

Flooring Ceramic Tile, Concrete, Laminate, Carpet

Fireplace false

Exterior

Exterior Feature Cement/Concrete, Wood Products

Roof Type Built-Up,Flat

Building

Sewer Sewer Connected

Water Public

Others

Senior Community No

Acceptable Financing Cash, Conventional

Listing Terms Cash, Conventional

"Three Trees" icon indicates a listing provided courtesy of NWMLS.

Nearby Locations

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Brett Bonner

MANAGING BROKER/REALTOR® | Lic# 27156

brettbonner@brettbonner.com

+1(253) 606-0578

111 Tumwater Blvd. Southeast Unit A 109, Tumwater, WA, 98501, USA

4241 21st AVE W Seattle, WA 98199

Brett Bonner

Key Details

Location

Interior

Exterior

Building

Others

4241 21st AVE W