2420 2nd Ave $16,500,000

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    2420 2nd Ave Seattle, WA 98121

    • 0.45 Acres
    • Commercial/Industrial
    • Listing# 1658262
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    Views: 66 Days On Site: 51

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    Property Details

    Incredibly rare opportunity to acquire 19,440 SF of land in the heart of downtown Seattles Belltown neighborhood! Property consists of 2 adjacent corner lots separated by an alley. 2420 2nd Ave is zoned DMR/C 95/65 & features a 6,480 SF remodeled office building occupied by a single tenant until 12/31/21 (NNN lease). 2421 3rd Ave is 12,960 SF zoned DMR/R 145/65 & is operated as a 48 stall parking lot. Unsurpassable location close to Pike Place Market, Space Needle, South Lake Union & the CBD.

    • General Features
      • County King
      • Approx Building SqFt 6,480
      • Approx Office SqFt 6,480
      • Approx Whse/Mfg SqFt 0
      • Zoning Class Commercial, Multi-Family, Office, Residential, Retail
      • Lot Dimensions 120 x 108
      • Selling Office Commission 2%
      • Style 60-Comm Bldg Und 10K
      • Total Covered Parking 0
      • Total Uncovered Parking 48
      • Zoning Jurisdiction City
    • Building Features
      • Exterior Brick
      • Foundation Poured Concrete
      • Roof Flat
      • Floor Covering Ceramic Tile, Wall-to-Wall Carpet
      • Features Signage Included
      • Heating and Cooling Forced Air, Heat Pump
      • Ceiling Height 14
    • Property Features
      • Depth of Lot 108
      • Site Frontage 120
      • Water-Sewer-Garbage 0
      • Sewer Sewer Available, Sewer Connected
      • Sewer Company Seattle Public Utilities
      • Energy Source Electric, Natural Gas
      • Power Company Seattle Public Utilities
      • Number of Available Pads 0
      • Lot Square Footage 19,440
    • Financials
      • Vacancy Rate 0
      • Total SqFt Rented 19,440
      • Total Monthly Rent $30,725
      • Gross Rent Multiplier 37
      • Cap Rate -NOI div LP 2.3
      • Gross Scheduled Income $441,701
      • Gross Adjusted Income $441,701
      • Total Expenses $61,229
      • NOI $380,472
      • Electrical Expenses $0
      • Tax Expense $87,076
      • Heating Expense $0
      • Insurance Expense $0
      • Other Expenses $0
      • Tax Year 2020
      • Annual Assoc. Dues $0

    Contact

    Brad Farris

    Brad Farris

    Managing Broker

    Bellevue Office

    Cell: 206-356-5633
    • 2-10 Home Buyers Warranty
    • American Home Shield - Be sure with the Shield.

    Neighborhood

    98121 (Seattle) Demographics

    33 Median Age
    33,283 Population Density (per sq. mile)
    73% College Educated
    $86,546 Estimated Median Income
    1,875 Estimated Total Home Owners
    8,191 Estimated Total Renters
    19% / 81% Estimated Owner / Renter Divide
    2 Estimated Average Household Size
    14,678 Total Population
    Community data courtesy of LiveBy, Inc.

    Market Last 30 Days In This Postal Code

    $617,500 Median Sales Price
    22 Homes Sold
    48 New On Market

    Average Days on Site

      Properties for Sale

        Calculations provided by Reliance Network

        Property History

        Date Event Price Percent Change
        -- Current Price Source New Value: $16,500,000
        9/8/2020 2:12:00 PM New in Database Source New Value: $16,500,000

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        This property search is part of the Berkshire Hathaway HomeServices Northwest Real Estate website. Listing information is courtesy of the WA-NWMLS and Berkshire Hathaway HomeServices Northwest Real Estate. Property information is based on available data that may include MLS information, county records, and other sources. Listings marked with this symbol: provided by Northwest Multiple Listing Service, 2020. All information provided is deemed reliable but is not guaranteed and should be independently verified. Properties subject to prior sale or rental Information has not been verified by agent and should be verified by buyer.



        Note: All room dimensions, including square footage data, are approximate and must be verified by the buyer. The information contained herein is furnished by the owner to the best of his/her knowledge but is subject to verification by the purchaser, and agent assumes no responsibility for the correctness thereof. The sale offering is made subject to errors, omissions, change of price, prior sale, or withdrawal without notice. In accordance with the Law, this property is offered without respect to race, color, creed, national origin, sex, familial status or disability. This is not intended to solicit property currently listed.