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3246 NE 85th Street

Seattle, WA 98115
  • $3,342,000
  • STATUS: Active
  • ON SITE: 12 Days
  • ID#: 1875986
UPDATED: 50 min ago
$3,342,000
  • 0
    BEDS
  • 0.25
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Commercial
Built:
1968
County:

School Ratings & Info

Listing Courtesy of Sound Realty Group Inc.

Description

Multiple investment & development strategies abound in this offering featuring two properties - a stabilized 4plex & a commercial retail bldg leased by Wedgwood Ale House. The properties may be purchased individually or together & both offer the opportunity to retain current tenants or vacate them to coincide with a development timeline. Zoned NC2P-55, the parcels have been studied for vertical development; highest & best use would be a 5 story mixed-use w/ 32 apt units & 1400 SF of retail space (see OM for feasibility). 4plex tenants just below market rent, 0 vacancy since 2003. Apt NOI:$60,432/yr. Ale house lease through 2023, below market rent. Corner lots w/ fantastic location in the heart of bustling Wedgwood, so much opportunity!

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The listing data relating to real estate for sale on this web site comes in part from the Northwest Multiple Listing Service. Real estate listings held by brokerage firms other than Shook Home Group | Keller Williams Tacoma are marked by the "three tree" symbol; detailed information about such listings includes the names of the listing brokers. Data last updated 2022-01-17T23:14:11.227.

www.shookhomegroup.com/homes/124470549
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3246 NE 85th Street Seattle, WA 98115

  • Price: $3,342,000
  • Status: Active
  • On Site: 12 Days
  • Updated: 50 min ago
  • ID#: 1875986
0
Beds
0
Baths
0
½ Baths
0.25
Acres
1968
Built
Neighborhood:
Wedgwood
County:
King
Area:
N.Seattle/UW/Wedgewood/V.Ridge/Lk Cty
Property Description
Multiple investment & development strategies abound in this offering featuring two properties - a stabilized 4plex & a commercial retail bldg leased by Wedgwood Ale House. The properties may be purchased individually or together & both offer the opportunity to retain current tenants or vacate them to coincide with a development timeline. Zoned NC2P-55, the parcels have been studied for vertical development; highest & best use would be a 5 story mixed-use w/ 32 apt units & 1400 SF of retail space (see OM for feasibility). 4plex tenants just below market rent, 0 vacancy since 2003. Apt NOI:$60,432/yr. Ale house lease through 2023, below market rent. Corner lots w/ fantastic location in the heart of bustling Wedgwood, so much opportunity!
Exterior Features

Carport YN No Exterior Features BrickWoodWood Products Open Parking YN No Parking Total 0 Roof FlatTorch Down Structure Type Unspecified Style Code 60 - Comm Bldg Und 10K

Interior Features

Building Area Total 0 Cooling YN Yes Fireplace YN No Flooring ConcreteLaminateLaminateCarpet Furnished Unfurnished Heating Cooling Type Forced AirHeat Pump Heating YN Yes Interior Features Forced AirHeat PumpConcreteLaminate HardwoodLaminate TileWall To Wall Carpet Living Area 0 Square Footage Finished 0 Square Footage Unfinished 0

Property Features

Electric On Property YN No Energy Source ElectricNatural Gas First Right Of Refusal No Foundation Details Poured Concrete Irrigation Water Rights YN No Listing Terms Cash OutConventional Net Operating Income 90000 Possession Tenant's Rights Possible Use Commercial Power Production Type ElectricNatural Gas Property Sub Type Commercial Industrial Senior Community YN No Special Listing Conditions None Tax Annual Amount 33438 Tax Year 2021 Utilities Electricity AvailableNatural Gas Connected Water Source Public Year Built Effective 1968 Zoning Class Commercial Zoning Jurisdiction City

Listing information © 2022 Northwest Multiple Listing Service. Information is based on data available to the associate, including county records. The information contained in this listing has not been verified by Shook Home Group | Keller Williams Tacoma and should be verified by the buyer.


The listing data relating to real estate for sale on this web site comes in part from the Northwest Multiple Listing Service. Real estate listings held by brokerage firms other than Shook Home Group | Keller Williams Tacoma are marked by the "three tree" symbol; detailed information about such listings includes the names of the listing brokers. Data last updated 2022-01-17T23:14:11.227.

 
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Shook Home Group | Keller Williams Tacoma
7525 28th St W
University Place WA, 98466
Listing Courtesy of Sound Realty Group Inc.