503-279-1743
2400 1st Ave S, Seattle, WA for Sale
Self-Storage Facilities - FOR SALE
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2400 1st Ave S
Seattle, WA 98134


HIGHLIGHTS

  • Top 15 MSA with high barriers to entry for future storage developments
  • Operational Upside – opportunity to implement professional management systems and practices
  • Occupancy Upside – potential to grow occupancy in under-supplied trade area
  • Future development Potential – (II U/160) zoning allows for vertical construction up to 160 feet
  • Exceptional Demographics – 231,180 Population and $166,905 Average Household Income in 3-mile trade area

OVERVIEW

1st Ave Self Storage is a 17,182 SF, 3 story self-storage facility on a 0.2 acre parcel and includes 202 heated storage units. The property also features a manager’s office and 44 mailboxes. Street parking around the facility is currently utilized for the Property’s U-Haul truck rental. The Property is only 57% occupied by units and 69% occupied by square footage, offering significant upside potential. The property will further benefit by implementing more sophisticated management practices. Total self-storage supply on a 3 mile radius is only 4.34 NRSF/Person. 1st Ave Self Storage is located along 1st Avenue in the SODO district of Seattle; directly across the street from Starbucks Corporate Headquarters and less than a half-mile south of T-Mobile Park, home to the MLB’s Seattle Mariners, and Lumen Field, home to the NFL’s Seattle Seahawks. The location benefits from 1st Avenue’s close proximity to downtown Seattle and outstanding drive by exposure along 1st Ave; which runs the length of the city connecting Georgetown/South Park neighborhoods to the south, with the Seattle Center/Space Needle on the northside of downtown.

FOR SALE DETAILS

PRICE

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CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

1st Ave Self Storage

PROPERTY TYPE

Specialty

PROPERTY SUBTYPE

Self-Storage Facilities

TOTAL BUILDING SIZE

-

STORIES

2

BUILDING CLASS

B

YEAR BUILT

1925

SPRINKLERS

-

PARKING SPACES

5

LAND DETAILS

LAND ACRES

0.21 AC

LAND SF

8,999 SF

ZONING

IG2 U/85, Seattle

APN/PARCEL ID

766620-6065

ASK ABOUT THIS PROPERTY

Jim LewisCushman & Wakefield of Oregon, Inc.More Info
503-279-1743

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Jim LewisCushman & Wakefield of Oregon, Inc.More Info
503-279-1743

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.