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Capitol Hill Redevelopment Site 2 Retail Properties Offered at $3,950,000 in Seattle, WA
INVESTMENT HIGHLIGHTS
- Total Assemblage – 12,850 SF
- Shape & Frontage: The assembled sites are a triangular configuration
- Utilities: All necessary utilities appear to be available to the site
- Current Zoning: 110 Summit Ave E - NC3-75 (M); 1611 E Olive Way – NC3P-75 (M)
- Topography: The site slopes gently downward from east to west
EXECUTIVE SUMMARY
NAI Puget Sound Properties is pleased to exclusively offer for sale 110 Summit Ave E and 1611 E Olive Way. Available for the first time in many years, these adjacent properties are located in the heart of the retail/commercial core of the Capitol Hill neighborhood of Seattle, one of the most desirable neighborhoods in both Seattle and the greater Puget Sound region.
Located on a major commercial corridor in a high-density and vibrant community, the combined properties offer corner locations with street frontage on two sides, allowing maximum natural light and great view potential.
The properties are near the Capitol Hill Link Light Rail and Seattle Streetcar stations, in addition to numerous bus routes in close proximity. Only two neighborhoods in the Seattle area are accessible by all 3 major transportation systems. This transit-oriented location provides excellent access to nearby employment centers such as the Seattle Central Business District, South Lake Union, the University of Washington main campus and hospital, and the First Hill medical community. In addition, the combined properties are near Cal Anderson Park, which is the hub of the local community.
The properties are being offered at a price well below their current assessed values, and with short-term tenants currently at rents well below market. Accordingly, this offering provides a unique investment and/or owner/user opportunity with substantial near-term upside in revenue while the property is held for possible assemblage and future redevelopment in the years to come.
Located on a major commercial corridor in a high-density and vibrant community, the combined properties offer corner locations with street frontage on two sides, allowing maximum natural light and great view potential.
The properties are near the Capitol Hill Link Light Rail and Seattle Streetcar stations, in addition to numerous bus routes in close proximity. Only two neighborhoods in the Seattle area are accessible by all 3 major transportation systems. This transit-oriented location provides excellent access to nearby employment centers such as the Seattle Central Business District, South Lake Union, the University of Washington main campus and hospital, and the First Hill medical community. In addition, the combined properties are near Cal Anderson Park, which is the hub of the local community.
The properties are being offered at a price well below their current assessed values, and with short-term tenants currently at rents well below market. Accordingly, this offering provides a unique investment and/or owner/user opportunity with substantial near-term upside in revenue while the property is held for possible assemblage and future redevelopment in the years to come.
PROPERTY FACTS
| Price | $3,950,000 | Number of Properties | 2 |
| Price / SF | $730.13 / SF | Individually For Sale | 0 |
| Sale Condition | Redevelopment Project | Total Building Size | 5,410 SF |
| Sale Type | Investment | Total Land Area | 0.30 AC |
| Status | Under Contract |
| Price | $3,950,000 |
| Price / SF | $730.13 / SF |
| Sale Condition | Redevelopment Project |
| Sale Type | Investment |
| Status | Under Contract |
| Number of Properties | 2 |
| Individually For Sale | 0 |
| Total Building Size | 5,410 SF |
| Total Land Area | 0.30 AC |
PROPERTIES
| PROPERTY NAME / ADDRESS | PROPERTY TYPE | SIZE | YEAR BUILT | INDIVIDUAL PRICE |
|---|---|---|---|---|
| 110 E Summit Ave, Seattle, WA 98102 | Retail | 4,000 SF | 2007 | - |
| 1611 E Olive Way, Seattle, WA 98102 | Retail | 1,410 SF | 1926 | - |
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