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High Rise Development Land 2 Retail Properties Offered at $25,500,000 in Seattle, WA
INVESTMENT HIGHLIGHTS
- Vested tower opportunity
- Great view potential
- Highly walkable and in the center of SLU
EXECUTIVE SUMMARY
Purchase of fee simple interest of properties, including vested tower development opportunity. The Property has a complete Master User Permit submittal for a 29-story, 342-unit residential tower, with approximately 14,000 SF of ground floor retail and 230 parking stalls. Program elements can be amended by Purchaser.
415 and 411 Westlake Avenue are located on Westlake Avenue, South Lake Union’s “Main Street.” They comprise approximately 19,440 square feet of developable land, with a planned development program consisting of 342 multi-family units in 452,000 square feet of above grade and below grade development capacity. The owners have begun the entitlement process seeking to preserve development options for a potential Purchaser, which have included completing the first Early Design Guidance (EDG) round of the City of Seattle’s Master Use Permit (MUP) process, as further described in the Development Opportunity section of the Offering Memorandum.
415 and 411 Westlake Avenue are located on Westlake Avenue, South Lake Union’s “Main Street.” They comprise approximately 19,440 square feet of developable land, with a planned development program consisting of 342 multi-family units in 452,000 square feet of above grade and below grade development capacity. The owners have begun the entitlement process seeking to preserve development options for a potential Purchaser, which have included completing the first Early Design Guidance (EDG) round of the City of Seattle’s Master Use Permit (MUP) process, as further described in the Development Opportunity section of the Offering Memorandum.
PROPERTY FACTS
| Price | $25,500,000 | Number of Properties | 2 |
| Price / SF | $2,120 / SF | Individually For Sale | 0 |
| Sale Condition | Redevelopment Project | Total Building Size | 12,030 SF |
| Sale Type | Investment | Total Land Area | 0.47 AC |
| Status | Active |
| Price | $25,500,000 |
| Price / SF | $2,120 / SF |
| Sale Condition | Redevelopment Project |
| Sale Type | Investment |
| Status | Active |
| Number of Properties | 2 |
| Individually For Sale | 0 |
| Total Building Size | 12,030 SF |
| Total Land Area | 0.47 AC |
PROPERTIES
| PROPERTY NAME / ADDRESS | PROPERTY TYPE | SIZE | YEAR BUILT | INDIVIDUAL PRICE |
|---|---|---|---|---|
|
Union Church
415 Westlake Ave N, Seattle, WA 98109 |
Retail | 7,230 SF | 1947 | - |
|
Samsar Building
411 Westlake Ave N, Seattle, WA 98109 |
Retail | 4,800 SF | 1956 | - |
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VIDEOS
MATTERPORT 3D EXTERIOR
MATTERPORT 3D TOUR
PHOTOS
STREET VIEW
STREET
MAP
