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4339 University Way NE 7,978 SF 100% Leased Retail Building Seattle, WA 98105 $4,500,000 ($564.05/SF) 5.41% Cap Rate
INVESTMENT HIGHLIGHTS
- Located on "The Ave", the U-District's prime retail and pedestrian corridor
- Surrounding national credit tenants include Starbucks, Chipotle, and H-Mart
- Adjacent to the University of Washington campus, driving strong foot traffic
- Vertical development upside - NC3P-65 zoning
EXECUTIVE SUMMARY
Kidder Mathews is pleased to present the opportunity to acquire 4339 University Way NE, a 100% leased, three-tenant retail asset located on “The Ave” in Seattle’s University District, one of the city’s most dynamic and high-traffic urban corridors.
The offering is positioned in an irreplaceable core location serving dense residential neighborhoods and the University of Washington community. All tenants are on NNN leases providing a stable income stream with minimal landlord management. The site is zoned NC3P-65 which potentially allows for up to 6 stories of future development upside.
The offering is positioned in an irreplaceable core location serving dense residential neighborhoods and the University of Washington community. All tenants are on NNN leases providing a stable income stream with minimal landlord management. The site is zoned NC3P-65 which potentially allows for up to 6 stories of future development upside.
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Retail
Building Size
7,978 SF
Building Class
C
Year Built
1910
Price
$4,500,000
Price Per SF
$564.05
Cap Rate
5.41%
NOI
$243,450
Percent Leased
100%
Building Height
2 Stories
Building FAR
1.94
Lot Size
0.09 AC
Zoning
NC3P65
Walk Score®
Walker's Paradise (99)
Transit Score®
Excellent Transit (83)
Bike Score®
Very Bikeable (85)
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 114200-0135 | Improvements Assessment | $1,380,100 |
| Land Assessment | $1,648,000 | Total Assessment | $3,028,100 |
PROPERTY TAXES
Parcel Number
114200-0135
Land Assessment
$1,648,000
Improvements Assessment
$1,380,100
Total Assessment
$3,028,100
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