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1617 Boylston Ave
Seattle, WA 98122
Boylston Garage · Retail Property For Sale
Investment Highlights
- Premier Capitol Hill Triple-Net Investment Opportunity
- ±9-Year Lease Term Remaining | Expires November 2035
- $1M+ Tenant Interior Buildout (2024)
- Two 5-Year Renewal Options Extending Through 2045
- ~30% NOI Growth Over Term | 3% Annual Escalations
- Premium Training, Recovery & Social Bar Concept - 1,300+ Members at Capitol Hill
Executive Summary
1617 Boylston Avenue presents investors a rare opportunity to acquire a single-tenant NNN asset occupied by Henry’s Gymnasium, a design-forward fitness and lifestyle operator with over 1,300 members at this location. The lease runs through November 2035 with two 5-year renewal options extending to 2045, and features 3% annual contracted rent escalations. The property offers a truly passive income stream in one of Seattle’s most supply-constrained, highest-barrier-to-entry sub-markets.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Health Club
Building Size
14,909 SF
Building Class
B
Year Built/Renovated
1921/2023
Price
$8,825,000
Price Per SF
$591.92
Cap Rate
7%
NOI
$617,456
Tenancy
Single
Building Height
3 Stories
Building FAR
2.71
Lot Size
0.13 AC
Zoning
NC3-75
Amenities
- 24 Hour Access
- Commuter Rail
- Air Conditioning
Property Taxes
| Parcel Number | 880490-0455 | Improvements Assessment | $1,982,300 |
| Land Assessment | $2,887,500 | Total Assessment | $4,869,800 |
Property Taxes
Parcel Number
880490-0455
Land Assessment
$2,887,500
Improvements Assessment
$1,982,300
Total Assessment
$4,869,800
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