Seattle 7% Cap Plus Development Site
100% Leased Retail Plus MF Development Site
Marketing description
Linc Properties is pleased to present the exclusive sale offering of a stabilized single tenant retail investment building plus the adjacent 10,450 SF development site. This core in-fill property is located in the heart of the dynamic Columbia City Landmark District in South Seattle. The savvy investor or developer has the rare opportunity to purchase a desirable multifamily development site benefiting from current cash flow. The offering is structured “as-if” the current retail building remains as a long term leased investment asset following completion of the new development.
Investment highlights
PRIME LOCATION Situated in Columbia City, one of Seattle’s fastest-growing urban neighborhoods with exceptional connectivity and a thriving cultural scene.
DEVELOPMENT OPPORTUNITY Zoned NC2-55(M), the paved parking lot area is ready for a 55 ft. multifamily project.
NEWLY RENOVATED BUILDING The Marination Restaurant has benefited from significant tenant improvement and building upgrades for a modern adaptation to a classic neighborhood.
“COVERED LAND” CURRENT INCOME The property provides $126,886 annual net operating income with scheduled rental increases.
STRONG MARKET FUNDAMENTALS A high demand location with average market occupancy consistently above 95% serving a highly educated tenant base.
CORE PROVEN LOCATION Only minutes from the Columbia City Station, a 95% “walking score”, great restaurants, shopping and services bolster development success
Prime Location in Seattle’s Fast Growing Columbia City Classic Urban Neighborhood
Fully Leased Single Tenant Investment Building Valued at 7% Cap Rate
Adjacent 10,450 SF Parking Lot is Ready for Separate 55 Ft. High Multifamily Development
Newly Renovated Restaurant Building Featuring Popular Local Chain
Highly Desirable and Rapidly Developing Market
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