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2241-2245 Eastlake Ave - Retail Condo @ Eastlake Lofts
1,161 SF Retail Unit Offered at £600,445 in Seattle, WA 98102
INVESTMENT HIGHLIGHTS
- Corner Location, Heavy Foot Traffic, Vibrant Neighborhood, Upscale Building, High End Finishes and Build Out.
PROPERTY FACTS
1 UNIT AVAILABLE
Unit C-1
| Unit Size | 1,161 SF | Sale Type | Investment |
| Price | £600,445 | Net Initial Yield | 6.84% |
| Price Per SF | £517.18 | NOI | £41,096.71 |
| Unit Use | Retail | No. Parking Spaces | 1 |
| Unit Size | 1,161 SF |
| Price | £600,445 |
| Price Per SF | £517.18 |
| Unit Use | Retail |
| Sale Type | Investment |
| Net Initial Yield | 6.84% |
| NOI | £41,096.71 |
| No. Parking Spaces | 1 |
DESCRIPTION
Stunning Commercial Condo for Sale! Excellent investment or future owner/operator business opportunity. Safe, reliable no-effort monthly income stream. The tenant pays all expenses including rent, HOA association charges, property taxes, and maintenance. High foot traffic and corner exposure on a busy thoroughfare. This unit was built out new as a high end coffee house when the building was constructed in 2007, and it has had a successful coffee house operation located in it since 2007. The current tenants have been in operation for 6 years, and have 4 years left on their lease. They also want to extend their lease if the new owner wishes.
The unit features solid walnut cabinetry and built-in bench seating. Huge sliding windows for an open-air feel during the summer months. Central A/C. This unit was built out to operate as a coffeehouse, but could also easily convert to a wine bar or other restaurant type of establishment. It has a concrete ventilation shaft to the roof which allows for a hood. Amazing corner location on a Main street and major bus route. Eastlake is one of Seattle's most prestigious and high density neighborhoods. One deeded covered parking space is included in the sale. Seller financing considered with a down payment.
SALE NOTES
This is a direct owner sale with the sale to be handled by an escrow and real estate attorney. No agents please. Seller financing considered with a down payment. The unit has 4 years left on the lease. No extensions. After that, the unit is free to be owner occupied or leased out again. The current tenant, Eastlake Coffee & Cafe, is eager to sign another five year lease with the new buyer if the buyer so chooses. Tenant is paying all expenses as per the lease: $3,275/month base rent, plus $723/month HOA dues, and $361/month property taxes. Please do not disturb the tenants. I am happy to schedule a walk-thru anytime for a thorough viewing. I can send a copy of the current tenant lease in place upon receiving an NDA. Please contact me to set this up.
MAJOR TENANT INFORMATION Click Here to Access
| TENANT | SF OCCUPIED | LEASE END DATE |
|---|---|---|
| Eastlake Coffee & Cafe |
99,999 SF SF
|
Jan 0000
|
AMENITIES
- Bus Route
- Signage
NEARBY MAJOR RETAILERS
ZONING
| Zoning Code | NC240 |
| NC240 |
Presented by
Voxx Partners LLC
2241-2245 Eastlake Ave - Retail Condo @ Eastlake Lofts
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