7018 NE Bothell Way 0.53 Acres of Commercial Land Offered at $1,990,000 in Kenmore, WA 98028
EXECUTIVE SUMMARY
Commercial Downtown Zoning. Can use for Affordable Housing minimum requirements when mixed in with your other residential development projects. Preliminary assessment allows for up to 80 units with upto 3000 sqft commercial in a Texas wrap build.
Currently the property is cash flowing with 4 residential tenants and 2 commercial tenants.
Currently the property is cash flowing with 4 residential tenants and 2 commercial tenants.
FINANCIAL SUMMARY (ACTUAL - 2023) |
ANNUAL | ANNUAL PER AC |
|---|---|---|
| Gross Rental Income |
$80,000
|
$150,943.40
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
-
|
-
|
| Net Operating Income |
-
|
-
|
PROPERTY FACTS
| Price | $1,990,000 |
| Sale Type | Investment |
| No. Lots | 1 |
| Property Type | Land |
| Property Subtype | Commercial |
| Proposed Use | Mixed Use |
| Total Lot Size | 0.53 AC |
| Zoning | CB - Anything approved in Kenmore, WA downtown commercial |
1 LOT AVAILABLE
Lot
| Price | $1,990,000 |
| Price Per AC | $3,754,716.98 |
| Lot Size | 0.53 AC |
Income producing property while you decide what to do with this Downtown Commercial lot. Very high traffic numbers per day on SR 522. Speed transit system route getting set for light rail link-ups.
DESCRIPTION
One of the last untouched properties on Bothell Hwy SRR-522. Originally used as light commercial (hair salon) with the business owners home in back of lot. Current Rents: Residential: 1. $1800/mo, 2. $780, 3. $1320, 4. $860 Commercial 1.$2000, 2. $780 Totals: $90,0480.00/year
1 of 1
Bike Score®
Very Bikeable (74)
PROPERTY TAXES
| Parcel Number | 011410-0673 | Improvements Assessment | $1,000 (2024) |
| Land Assessment | $1,506,100 (2024) | Total Assessment | $1,507,100 (2024) |
CONTACT
-
John Tong - John Tong
