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- LoopNet Team
8050 35th Ave NE
Seattle, WA 98115
Land For Sale
·
0.26 AC
INVESTMENT HIGHLIGHTS
- Excellent Wedgwood location – near shopping, restaurants, and grocery stores with quiet, residential feel
- Land bank opportunity
- 11,113-SF corner lot zoned LR2 RC (M) can be redeveloped into townhomes or multifamily (buyer to verify)
- Lovely green space with mature trees for nature and privacy
- Near UW, Seattle Children’s Hospital, Lake Washington, and Burke Gilman Trail
- Existing 4,061 SF (2,398 SF above grade) retail/office building with 11 parking spaces that can be rented during planning/permitting process
PROPERTY FACTS
| Property Type | Land | Total Lot Size | 0.26 AC |
| Property Subtype | Commercial | ||
| Zoning | LR2 RC (M), Seattle | ||
| Property Type | Land |
| Property Subtype | Commercial |
| Total Lot Size | 0.26 AC |
| Zoning | LR2 RC (M), Seattle |
DESCRIPTION
Positioned on a corner lot in Seattle’s desirable Wedgwood neighborhood, 8050 35th Ave NE boasts a “Very Walkable” walk score of 84. The property is well located on Wedgwood’s primary retail corridor along 35th Avenue NE, and is within walking distance of several restaurants and cafes such as Café Javasti, Veraci Pizza, Not Just Fish and Chips, Van Gogh Coffeehouse, and Wedgwood Broiler, as well as schools, shopping, and parks. Grocers within a 1-mile radius include Safeway and PCC Community Markets. The property offers convenient proximity to the University of Washington and Seattle Children’s Hospital, both less than 3 miles away, and is within a 7-minute bicycle ride of both Lake Washington and the Burke Gilman Trail. Despite its excellent location near a variety of neighborhood amenities, 8050 35th Ave NE is situated on a quiet street with a residential feel. Currently operated as a retail store with multiple offices, 8050 35th Ave NE would be an excellent location for an owner/user seeking a 4,061-SF retail or office space (2,398 SF above-grade)* with 11 parking spaces while holding the property for future appreciation and potential development. 8050 35th Ave NE offers an owner/user investor a beautiful, private space with mature trees as well as high-quality, midcentury construction. Additionally, the 11,113-SF* corner parcel with LR2 RC (M) zoning will appeal to a townhome or multifamily developer. Current ownership will require a conservation easement at closing which permanently protects treed habitat on the north side of the property, but even with these conservation protections in place, much can be done with the developable space on the property. Per a local architect, the site could still be configured to support the maximum potential square footage (17,780 SF). The allowed number and size of homes may be greater than without the tree protections, due to the Floor Area Ratio bonus given for preserving at least 35% of the lot for exterior amenities and tree preservation.** With its excellent Wedgwood location near restaurants and shopping, combined with its quiet, residential atmosphere, 8050 35th Ave NE is a desirable acquisition for both an owner/user retail or office investor and for a developer. *All square footage figures are per King County records. **Buyer to verify all information regarding development potential.
