4241 21st Avenue , Seattle, WA 98199
Seattle, WA 98199
Description
96% leased remodeled office building with ample off-street 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 owner-user to acquire an updated property with stabilized income from long-term tenants. The current cap rate w/ in-place below market rent is 5.30%. Cap rate increases to over 8% once 3 small available suites are leased. Please don't disturb current tenants.
Details
| Mls | 2240758 |
|---|---|
| Listing Type | For Sale |
| Style | Commercial |
| Subtype | Resale |
| Status | Active |
| Year | 1979 |
| Days On Site | 183 |
| Listing Provided By | Windermere Real Estate Midtown | Lauren Hendricks |
Features
| Units | 4 |
|---|---|
| Acreage | 0.28 |
Market Activity 98199
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Learn More About This Property
| State | WA |
|---|---|
| County | King |
| City | Seattle |
| Zip Code | 98199 |
| Area | 700 Queen Anne | Magnolia |
| Community Name | Magnolia |
| Listing VS Median (in Magnolia) | |
Price: $3,500,000 low | high Med: $1,069,999 On Site: 183 low | high Med: 6.000000 | |