Listed by Colliers - Seattle, Washington
$2,750,000
211 First Ave S, Seattle
Details
Property Type Retail, Multifamily
Sub Type Apartment Building
Square Footage 11,605
Net Rentable (SqFt) 11,605
Units 6
Tenancy Multi
Pro-Forma Cap Rate 5.78%
Pro-Forma NOI $159,000
Year Built 1900
Buildings 1
Zoning PSM-100
Investment Type Stabilized
Ground Lease No
Mixed-Use Opportunity in the Heart of Pioneer Square's Arts District
Marketing description
211 1st Ave S presents a rare opportunity to acquire a character-rich, 1900-vintage brick mixed-use building in the heart of Pioneer Square. The asset combines four fully occupied residential units with approximately 6,000 square feet of street-level and lower-level commercial space, giving investors both stable in-place income and a clear path to meaningful upside through the lease-up of a prominent 1st Avenue South storefront.
Investment highlights
FULLY OCCUPIED RESIDENTIAL BASE WITH UPSIDE
LOWER-LEVEL CONCEPT OPTIONALITY
VACANT COMMERCIAL SPACE - CLEAR VALUE-ADD OPPORTUNITY
IRREPLACEABLE PIONEER SQUARE CHARACTER
CONSERVATIVE, COMP-SUPPORTED RETAIL UNDERWRITING
DUAL BUYER APPEAL
Listing Contacts
Listed by Colliers - Seattle, Washington
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