RAVENNA PROFESSIONAL OFFICES 2012 65th St 3,421 SF 100% Leased Office Building Seattle, WA 98115 $1,495,000 ($437.01/SF) 3.46% Cap Rate
EXECUTIVE SUMMARY
Set high off the street, wrapped in a wooden fence and tucked in the shade of mature trees, Ravenna Professional Offices offer charming craftsman style with the calming quietude of birdsong among lush landscaping in a lively urban village 8 blocks from Roosevelt Station light rail. Enter a welcoming lobby to access five comfortable office spaces. Upstairs, find an additional waiting area opening to two skylit offices. The commercial building includes a large covered porch, basement, detached garage plus 3 off-street parking spaces on a nearly 4,600SF corner lot with alley. Well suited for owner/users, profit from the building’s income stream with existing rent. Or, invest in the path of progress with NC255 (M) zoning for redevelopment.
FINANCIAL SUMMARY (ACTUAL - 2024) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Taxes |
$14,096
|
$4.12
|
| Operating Expenses |
$12,115
|
$3.54
|
| Total Expenses |
$26,211
|
$7.66
|
PROPERTY FACTS
Sale Type
Investment
Sale Condition
Ground Lease (Leasehold)
Property Type
Office
Building Size
3,421 SF
Building Class
C
Year Built
1922
Price
$1,495,000
Price Per SF
$437.01
Cap Rate
3.46%
NOI
$51,665
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Typical Floor Size
1,710 SF
Building FAR
0.75
Lot Size
0.11 AC
Zoning
NC255 (M) - Well suited for owner/users, profit from the building’s income stream with existing rent. Or, invest in the path of progress with NC255 (M) zoning fo
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Walk Score®
Walker's Paradise (91)
Bike Score®
Very Bikeable (84)
