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- LoopNet Team
3020 NE 45th
Seattle, WA 98105
Ground lease (Leased Fee) · Land For Sale
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1.82 AC
PROPERTY FACTS
DESCRIPTION
Safeway @ 45th Street is a trophy asset with irreplaceable locational characteristics and development potential. The property is currently encumbered by a long-term ground lease to Safeway which extends through January 2025. Safeway has occupied the site since 1975 with minimal rent escalations in the past 45 years. The current ground lease payments are wildly below market at $77,000 per year. Upon expiration of the ground lease, the improvements and land will revert to the fee holder and the highest and best use of the property can be realized as a complete redevelopment.
PROPERTY TAXES
| Parcel Number | 243720-0030 | Improvements Assessment | $1,000 |
| Land Assessment | $30,543,600 | Total Assessment | $30,544,600 |
PROPERTY TAXES
