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Standalone Restaurant on 2 Development Lots 2605 E Cherry St 2,310 SF Retail Building Seattle, WA 98122 $2,550,000 ($1,103.90/SF)
INVESTMENT HIGHLIGHTS
- Excellent 5-Story Development Site (44 Apt. Units or 6-8 Townhomes - Buyer to verify)
- Operate Fully Functional Restaurant Until Future Development (Currently has a "Beer & Wine" Liquor License)
- Owner's Apartment on Lower Level (2 Bedrooms + Bonus Room + Full Bath)
- Restaurant previously operated with a Class 'H' Liquor License with a Maximum Capacity of 150+
EXECUTIVE SUMMARY
Strategically located on a corner lot in the heart of the Central District of Seattle, this Site boasts a 30-year tradition as the oldest Ethiopian restaurant in the City. The Site is just 3 blocks from Garfield High School and equidistant from 2 major commercial arterials - 23rd Ave. E. & MLK Way. Excellent zoning allows for a mixed-use development of 5 stories (40+ apartments or 6-8 Townhomes. - Buyer to verify). Operate the restaurant/bar until future development. Other uses of property include childcare, adult family home, or church/community center. All "F, F' & E" remains in building as it is included in sale.
TAXES & OPERATING EXPENSES (ACTUAL - 2025) Click Here to Access |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
TAXES & OPERATING EXPENSES (ACTUAL - 2025) Click Here to Access
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
PROPERTY FACTS
Sale Type
Owner User
Sale Condition
Redevelopment Project
Property Type
Retail
Property Subtype
Building Size
2,310 SF
Building Class
C
Year Built
1949
Price
$2,550,000
Price Per SF
$1,103.90
Tenancy
Single
Building Height
2 Stories
Building FAR
0.30
Lot Size
0.18 AC
Zoning
NC1-55(M), Seattle - Zoning allows for a 5-Story mixed-use structure with 44 apartment units over 1,130 SF of commercial space, or 6 to 8 townhomes can be built on site.
Parking
3 Spaces (0.43 Spaces per 1,000 SF Leased)
Frontage
100’ on Cherry
AMENITIES
- Bus Line
Walk Score®
Very Walkable (86)
Bike Score®
Biker's Paradise (98)
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Numbers | Total Assessment | $2,497,600 (2024) | |
| Land Assessment | $2,496,600 (2024) | Annual Taxes | ($2,310) (($1.00)/SF) |
| Improvements Assessment | $1,000 (2024) | Tax Year | 2025 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$2,496,600 (2024)
Improvements Assessment
$1,000 (2024)
Total Assessment
$2,497,600 (2024)
Annual Taxes
($2,310) (($1.00)/SF)
Tax Year
2025
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Contact the Sale Advisor
Standalone Restaurant on 2 Development Lots | 2605 E Cherry St
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