4241 21st Ave W - Office FOR SALE


Seattle, WA 98199
$3,500,000 USD
206-999-9161
4241 21st Ave W, Seattle, WA for Sale
$3,500,000 USD
Office - FOR SALE
1/34
null | 5.3% Cap Rate

4241 21st Ave W
Seattle, WA 98199


HIGHLIGHTS

  • 96% leased remodeled office building with ample off-street parking
  • Actual in-place cap rate of 5.30% with below market rents and current vacancies
  • Cap Rate increases to over 8% once 3 small spaces are leased at $20/SF/YR NNN
  • Updated building systems and building amenities include a common conference room and kitchenette, shower facilities, bike storage/parking
  • 23+ off-street parking spaces including 8 covered parking and guest parking
  • Excellent views and location close to Vertical World Climbing Gym, Discovery Park & Fisherman's Terminal

OVERVIEW

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.

FOR SALE DETAILS

PRICE

$3,500,000 USD

PRICE/SF

$168 USD /SF

CAP RATE

5.3%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment Or Owner User

BUILDING DETAILS

PROPERTY NAME

Fisheries Bldg at Salmon Bay in Interbay

PROPERTY TYPE

Office

TOTAL BUILDING SIZE

-

STORIES

4

BUILDING CLASS

B

YEAR BUILT

1979

SPRINKLERS

-

PARKING SPACES

23

LAND DETAILS

LAND ACRES

0.28 AC

LAND SF

12,197 SF

ZONING

MML U/65

APN/PARCEL ID

277110-0445

ASK ABOUT THIS PROPERTY

Lauren HendricksWindermere CommercialMore Info
206-999-9161

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

Lauren HendricksWindermere CommercialMore Info
206-999-9161

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