Georgetown Two-Building Creative
1136 Albro Pl Seattle, WA 98108
1136 Albro Pl, Seattle, WA, 98108
$10,750,000
For Sale
$10,750,000
Rare industrial/creative campus in Georgetown with adaptive-reuse facilities.
Property Size32,143 SF
Price / SF$334.44
Days on Market217
Property Features for 1136 Albro Pl
General Information
- Standard status
- Active
- Size
- 32,143 SF
- Property subtype
- Commercial
Building Details
- Year Built
- 1963
Listing agency
MERIWETHER ADVISORS, LLC
Listed by
DAVID ROTHROCK
Source
Corcoran
Added: Dec 16, 2025 Updated: Jul 6 at 9:55AM Checked: Jul 21 at 6:11AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of MERIWETHER ADVISORS, LLC
Investment Insights
Based on property information with market context.
This rare two-building Georgetown offering features a distinctive industrial/creative campus shaped by the combined influence of renowned architect Tom Kundig of Olson Kundig, and the visionary direction of Charles Smith. Their collaboration transformed a historic bottling plant into one of Seattle’s most compelling adaptive-reuse facilities, preserving authentic industrial character while delivering premium functionality and striking architectural presence. Together, the properties offer exceptional flexibility across production, warehouse, office, retail, and hospitality/event uses with immediate proximity to Boeing Field and I-5. The property size is 32143 square feet.
Key Highlights
- Architecturally significant adaptive reuse of a historic bottling plant by renowned architect Tom Kundig and Charles Smith.
- Exceptional flexibility for production, warehouse, office, retail, and hospitality/event uses.
- Authentic industrial character preserved with premium functionality and striking architectural presence.
Local Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $975.9k | $30.36 |
| − Vacancy | −$223.5k | −$6.95 |
| EGI | $752.4k | $23.41 |
| − OpEx | −$188.1k | −$5.85 |
| NOI | $564.3k | $17.56 |
32,143 SF · lease $30.36/SF/yr · vacancy 22.90% · expense 25.00%
Alternative Uses
Best Use
Office B
$8.06M
$7.05M – $9.40M
NOI $564,292 @ 7.0% cap · market cap 5.25%
Second Best
Retail
$6.85M
$5.99M – $7.99M
NOI $479,279 @ 7.0% cap · market cap 4.46%
Theoretical Best
Office A
$9.67M
$8.46M – $11.28M
NOI $676,922 @ 7.0% cap · market cap 6.30%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
House of Smith Wines ...
Brewery & Distillery
Similar For Sale Nearby
FAQs
What type of property is this?
Mixed-use property - Rare industrial/creative campus in Georgetown with adaptive-reuse facilities.
Where is this mixed-use property located?
The property is located at 1136 Albro Pl Seattle, WA.
What is the asking price?
The asking price for this property is $10,750,000.
What are key features of this property?
This property features: Architecturally significant adaptive reuse of a historic bottling plant by renowned architect Tom Kundig and Charles Smith.; Exceptional flexibility for production, warehouse, office, retail, and hospitality/event uses.; Authentic industrial character preserved with premium functionality and striking architectural presence.
