Bought with: Columbia Partners Real Estate
$1,850,000
$2,500,000
26.0%For more information regarding the value of a property, please contact us for a free consultation.
0.28 Acres Lot
SOLD DATE : 08/31/2026
Key Details
Sold Price $1,850,000
Property Type Commercial
Sub Type Commercial Industrial
Listing Status Sold
Purchase Type For Sale
Subdivision Magnolia
MLS Listing ID 2321503
Sold Date 08/31/26
Style 61 - Comm Bldg Ovr 10K
Year Built 1979
Annual Tax Amount $45,257
Lot Size 0.275 Acres
Lot Dimensions 100 x 120
Property Sub-Type Commercial Industrial
Property Description
Remodeled 4-story office building featuring a secured lobby entrance, 23+ off-street parking spaces, building conference room, shower facility, hospital grade HEPA filtration system and incredible views of the Ship Canal and Fisherman's Terminal from every floor. Great location close to Vertical World Climbing Gym, Discovery Park, and many great restaurants and breweries. This is an excellent opportunity for an investor or an owner-user to acquire an updated property with stabilized income from long-term tenants with below market rents. Flexible leases allowing a new owner to occupy a portion or all of the building. 4.6% cap rate based on current income and 62% occupancy. Actual 10%+ cap rate with 90% occupancy. Please don't disturb current tenants.
Location
State WA
County King
Area 700 - Queen Anne/Magnolia
Interior
Flooring Ceramic Tile, Concrete, Laminate, Carpet
Fireplace false
Exterior
Exterior Feature Cement/Concrete, Wood Products
Roof Type Built-Up,Flat
Building
Sewer Sewer Connected
Water Public
Others
Senior Community No
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
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