SODO 4TH AVE S. 2 Retail Properties Offered at $9,350,000 in Seattle, WA
INVESTMENT HIGHLIGHTS
- 2 parcels (766620-5515 & 766620-5520) comprising a total of 50,100 square feet of land
- 3201 North parcel is a 12,600 SF building with two tenants which provides buyer with stable income stream
- Zoning: Seattle – IG1 U/85 Industrial
- 3211 South parcel (Gull fueling station) is approximately 2,400 SF
- Potential for future re-development
- Access to I-5, Highway 99, I-90 and the Port of Seattle is excellent.
EXECUTIVE SUMMARY
The highly visible subject property is situated at the signalized Northwest corner of 4th Avenue S. and S. Horton Street. in the heart of SODO. The property includes 2 parcels comprising a total of 50,100 square feet of land. The south parcel (Fueling Station) is approximately 2,400 SF. The ground lease tenant has occupied the property since 1984. The north parcel is a 12,600 SF building with two tenants. The property provides a buyer with a stable income stream and the potential for future re-development. Access to I-5, Highway 99, I-90 and the Port of Seattle is excellent. The property presents a rare opportunity for now and the future in the heart of SODO. Gas Station Ground Lease Tenant will adjust to a market lease rate in 2024, their current lease rate is significantly below market.
PROPERTY FACTS
| Price | $9,350,000 |
| Price / SF | $623.33 / SF |
| Cap Rate | 5.35% |
| Sale Type | Investment |
| Status | Active |
| Number of Properties | 2 |
| Individually For Sale | 0 |
| Total Building Size | 15,000 SF |
| Total Land Area | 1.15 AC |
PROPERTIES
| PROPERTY NAME / ADDRESS | PROPERTY TYPE | SIZE | YEAR BUILT | INDIVIDUAL PRICE |
|---|---|---|---|---|
|
A.C. Automotive
3201 4th Ave S, Seattle, WA 98134 |
Retail | 12,600 SF | 1928 | - |
| 3211 4th Ave S, Seattle, WA 98134 | Retail | 2,400 SF | 1984 | - |
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