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Fisheries Building at Salmon Bay in Interbay
4241 21st Ave W Seattle WA 98199
Listing #: 683102 | Status: Available | Last Modified: 9/16/2024
| Showing Instructions | |
|---|---|
| Call Listing Agent | No |
| Use Discretion | No |
| Investment Information | |
|---|---|
| Investment Prop | Yes |
| Gross Income | 336,468 |
| Vacancy Factor % | 0.00% |
| Operating Expenses | 150,781 |
| Net Operating Income | 185,687 |
| CAP Rate | 5.31 % |
| Detail Listing Information | |
|---|---|
| Min Total SF | 0 SF |
| Max Total SF | 0 SF |
| Lease Rate Low | $ 0.00 |
| Lease Rate High | $ 0.00 |
| Retail Information | |
|---|---|
| Signage | Signage on Building and Freestanding |
| Building Information | |
|---|---|
| Building Status | Existing |
| # of Buildings | 1 |
| # of Floors | 4 |
| # of Elevators | 1 |
| A/C | Yes |
| Total Building SF | 22,365 SF |
| Net Rentable Area | 20,778 SF |
| Total Office SF | 20,778 SF |
| Largest Contiguous SF | 5,829 SF |
| Lot SF | 11,994 SF |
| Acres | 0.28 |
| Year Built | 1979 |
| Year Renovated | 2015 |
| Roof Type | Flat |
| Construction Type | Framed, Wood |
| Property Type | |
|---|---|
| Property Type | Office |
| Office Type | Other |
| Investment | Yes |
| Building Class | B |
| Location | |
|---|---|
| County | King |
| Vicinity | Magnolia/Interbay |
| Location Description | Across from Fisherman's Terminal |
| Cross Street | West Commodore Way |
| Market Area | Queen Anne/Magnolia |
| Tax ID # | 2771100445 |
| Zoning | MML-U/65 |
| Parking Information | |
|---|---|
| #Covered Spaces | 8 |
| # Uncovered Spaces | 15 |
| Total Parking Spots | 23 |
| Parking Ratio | 1/1000sf |
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.
Fisheries Building at Salmon Bay in Interbay
4241 21st Ave W Seattle WA 98199
Listing #: 683102 | Status: Available | Listing Date: 5/24/2024 | Last Modified: 9/16/2024 | Email Listing
For Sale
Fisheries Building at Salmon Bay in Interbay
