14401 Greenwood Ave N
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14401 Greenwood Ave N
14,877 SF 77% Leased Retail Building Seattle, WA 98133 £2,190,078 (£147/SF)
Executive Summary
Incredible opportunity to acquire a 14,291 SF mixed-use building with huge rental upside and exciting future development potential. Located in the vibrant Broadview neighborhood, adjacent to the Seattle Golf Club, Greenwood Plaza is home to a diverse blend of tenants including popular local restaurants, a brewery, storage and residential apartments.
All rents are under market, and multiple tenants are coming up for renewal. New ownership can take advantage of a number of opportunities, including occupying space for their own business – by reconfiguring the suites, up to 10,000sf of space could be available in the near term. New ownership could also work with current tenants and prospects to increase rental rates to market and secure a cap rate in the low 7% range.
Located on a 14,400 SF lot, the site is only 2 miles from the South Shoreline/148th St light rail station currently under construction, and only a few minutes’ drive from the thriving Shoreline Place retail center and the new community “358 Degrees” by Pulte Homes. Zoned NC2P-55(M), the site offers excellent flexibility for a variety of uses and numerous options for future development, including a max building size of up to 54,000 SF.
All rents are under market, and multiple tenants are coming up for renewal. New ownership can take advantage of a number of opportunities, including occupying space for their own business – by reconfiguring the suites, up to 10,000sf of space could be available in the near term. New ownership could also work with current tenants and prospects to increase rental rates to market and secure a cap rate in the low 7% range.
Located on a 14,400 SF lot, the site is only 2 miles from the South Shoreline/148th St light rail station currently under construction, and only a few minutes’ drive from the thriving Shoreline Place retail center and the new community “358 Degrees” by Pulte Homes. Zoned NC2P-55(M), the site offers excellent flexibility for a variety of uses and numerous options for future development, including a max building size of up to 54,000 SF.
Property Facts
Sale Type
Investment or Owner User
Sale Condition
1031 Exchange
Property Type
Retail
Property Subtype
Freestanding
Building Size
14,877 SF
Building Class
C
Year Built
1928
Price
£2,190,078
Price Per SF
£147
Percent Leased
77%
Tenancy
Multiple
Number of Floors
2
Building FAR
1.03
Land Acres
0.33 AC
Zoning
NC2P-55(M), Seattle
Parking
22 Spaces (0.78 Spaces per 1,000 SF Leased)
Amenities
- Food Court
- Signage
Nearby Major Retailers
PROPERTY TAXES
| Parcel Number | 198020-0150 | Improvements Assessment | £440,989 |
| Land Assessment | £957,719 | Total Assessment | £1,398,708 |
PROPERTY TAXES
Parcel Number
198020-0150
Land Assessment
£957,719
Improvements Assessment
£440,989
Total Assessment
£1,398,708
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James Tjoa -
RE/MAX Metro Realty, Inc.
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14401 Greenwood Ave N
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