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Listed by:Berkshire Hathaway HS NW • Paul B. Poirier • Jacob Menashe

Anthony Dang

anthonydang@simplihom.com +1(509) 460-0410

Listed by:Berkshire Hathaway HS NW • Paul B. Poirier • Jacob Menashe

$ 5,449,950

Est. payment -/mo

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Active

3228 1st AVE S Seattle, WA 98134

0.32 Acres Lot

UPDATED:

Key Details

Property Type Commercial

Sub Type Commercial Industrial

Listing Status Active

Purchase Type For Sale

Subdivision Seattle

MLS Listing ID 2494940

Style 61 - Comm Bldg Ovr 10K

Year Built 1937

Annual Tax Amount $41,508

Lot Size 0.324 Acres

Lot Dimensions 94x149

Property Sub-Type Commercial Industrial

Property Description

Excellent income-producing investment opportunity in Seattle's thriving SODO district, just one mile south of downtown and minutes from the stadiums. This highly visible corner property offers outstanding frontage along First Avenue South, a 14,100 SF lot, and convenient access to I-5, I-90, and SR-99. The 20,975 SF building features multiple commercial tenants, diversified income streams, and additional leasing upside. The property's largest space, approximately 9,000 SF, was recently secured under a new 10-year NNN lease with Outland Club LLC. The building generates $324,360 in annual base rental income moving forward. Additional income comes from 13 leased band/practice rooms, a long-term commercial tenant (Fastest Labs), and a recently leased upstairs work loft. Significant upside remains with two vacant ground-floor commercial storefronts along First Avenue South totaling 2,400 SF, one upstairs work loft approximatly 2,000 SF, and four additional band/practice rooms available for lease. With a new long-term anchor tenant, established cash flow, diversified rental income, and opportunities to further increase revenue through lease-up, this property offers investors an excellent opportunity to acquire a substantial income-producing asset in Seattle's desirable SODO district.

Location

State WA

County King

Area 390 - Central Seattle

Interior

Flooring Ceramic Tile, Concrete, Vinyl, Vinyl Plank

Fireplace false

Exterior

Exterior Feature Stucco, Wood

Roof Type Flat,Torch Down

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.

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+1(509) 460-0410

anthonydang@simplihom.com