4241 21st Ave W
Seattle WA 98199
Fisheries Building at Salmon Bay in Interbay
4241 21st Ave W Seattle WA 98199
Listing #: 683102 | Status: Available | Last Modified: 12/13/2024 |
For Sale
- Phone:(206) 999-9161
- Email:laurenhendricks@windermere.com
- Office Name:Windermere-Midtown Commercial
- Office Phone:(206) 446-6400
- Office Website:
- Call Listing AgentNo
- Use DiscretionNo
- Listing Price$ 3,500,000.0
- $/SF$ 156.5
- Listing StatusAvailable
- Days on Market211
- Asset ClassOffice, High Tech-Flex
- Terms
- Investment Type
- Investment PropYes
- Gross Income336,468
- Vacancy Factor %0.00%
- Operating Expenses150,781
- Net Operating Income185,687
- CAP Rate 5.31 %
- Min Total SF0
- Max Total SF0
- Lease Rate Low$ 00.0
- Lease Rate High$ 00.0
- Heat Source
- Total Units
- Water
- Electricity
- Storm Sewer
- SignageSignage on Building and Freestanding
- Anchor
- Building StatusExisting
- # of Buildings1
- # of Floors4
- # of Units
- # of Elevators1
- A/CYes
- Clearance Height Min
- Clearance Height Max
- Bay Depth
- Total Building SF22365
- Net Rentable Area20778
- Total Office SF20778
- Largest Contiguous SF5829
- Lot SF11994
- Acres0.28
- Property TypeOffice
- Office TypeOther
- InvestmentYes
- Building ClassB
- CountyKing
- VicinityMagnolia/Interbay
- Location DescriptionAcross from Fisherman's Terminal
- Second Address
- Cross StreetWest Commodore Way
- Market AreaQueen Anne/Magnolia
- Tax ID #2771100445
- Additional Parcels2771100520
- ZoningMML-U/65
- # Covered Spaces8
- # Uncovered Spaces15
- Total Parking Spots23
- Parking Ratio1/1000sf
- Year Built1979
- Year Renovated2015
- Completion Date
- Roof TypeFlat
- Construction TypeFramed, Wood
The Fisheries Building at Salmon Bay
96% leased remodeled office building with ample 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 an owner-user to acquire an updated property with stabilized income from long-term tenants with below market rents. The current cap rate with in-place below market rent and vacancy is 5.30%. Cap rate increases to over 8% once 3 small suites are leased. Please don't disturb current tenants.
