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Stacy St Warehouse 2245 1st Ave S 59,311 SF 100% Leased Industrial Building Seattle, WA 98134 $6,580,000 ($110.94/SF)
EXECUTIVE SUMMARY
Newmark, as exclusive advisor, is pleased to present the opportunity to acquire the fee simple interest in 2245 1st Avenue South (the “property”), a 59,311 SF flex office/industrial building on 0.61 acres in Seattle, Washington’s trendy SODO (south of downtown) submarket.
2245 1st Ave S is a 59,311 SF, three-story flex manufacturing building with 13’–18’ clear heights to accommodate light manufacturing uses. The elevator served building sits on 0.61 acres and provides 30 surface parking spaces. Built in 1930, the building benefitted from an extensive $9.4 Million renovation which included a seismic retrofit.
The property sits in the heart of the SODO neighborhood in Seattle and benefits from the proximity of a wide variety of uses, including industrial, art galleries, breweries, and
creative manufacturing. The building will be delivered vacant and the ownership will consider offers that also include the adjacent 20,677 SF building at 2233 1st Avenue S. The investment opportunity is being offered on “as-is, where-is” basis for the fee simple interest in the building, parking areas, and land thereunder.
2245 1st Ave S is a 59,311 SF, three-story flex manufacturing building with 13’–18’ clear heights to accommodate light manufacturing uses. The elevator served building sits on 0.61 acres and provides 30 surface parking spaces. Built in 1930, the building benefitted from an extensive $9.4 Million renovation which included a seismic retrofit.
The property sits in the heart of the SODO neighborhood in Seattle and benefits from the proximity of a wide variety of uses, including industrial, art galleries, breweries, and
creative manufacturing. The building will be delivered vacant and the ownership will consider offers that also include the adjacent 20,677 SF building at 2233 1st Avenue S. The investment opportunity is being offered on “as-is, where-is” basis for the fee simple interest in the building, parking areas, and land thereunder.
PROPERTY FACTS
| Price | $6,580,000 | Rentable Building Area | 59,311 SF |
| Price Per SF | $110.94 | No. Stories | 3 |
| Sale Type | Investment | Year Built | 1930 |
| Property Type | Industrial | Parking Ratio | 0.51/1,000 SF |
| Property Subtype | Warehouse | Clear Ceiling Height | 14’ |
| Building Class | C | No. Dock-High Doors/Loading | 2 |
| Lot Size | 0.61 AC | Opportunity Zone |
Yes
|
| Zoning | IG2U/85, Seattle | ||
| Price | $6,580,000 |
| Price Per SF | $110.94 |
| Sale Type | Investment |
| Property Type | Industrial |
| Property Subtype | Warehouse |
| Building Class | C |
| Lot Size | 0.61 AC |
| Rentable Building Area | 59,311 SF |
| No. Stories | 3 |
| Year Built | 1930 |
| Parking Ratio | 0.51/1,000 SF |
| Clear Ceiling Height | 14’ |
| No. Dock-High Doors/Loading | 2 |
| Opportunity Zone |
Yes |
| Zoning | IG2U/85, Seattle |
AMENITIES
- 24 Hour Access
- Fenced Lot
- Signage
UTILITIES
- Water - City
- Sewer - City
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Bike Score®
Very Bikeable (83)
PROPERTY TAXES
| Parcel Number | 766620-7195 | Improvements Assessment | $9,260,600 |
| Land Assessment | $3,196,800 | Total Assessment | $12,457,400 |
PROPERTY TAXES
Parcel Number
766620-7195
Land Assessment
$3,196,800
Improvements Assessment
$9,260,600
Total Assessment
$12,457,400
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