
Fisheries Building at Salmon Bay
Office | 5.30% CAP | 20,788 SqFt
Marketing description
96% leased remodeled office building with ample parking, This 4-story office building features 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. The current cap rate with in-place below market rent and vacancy is 5.30%. Cap rate increases to over 8% once 3 small suites are leased. Please don't disturb current tenants.
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