Two-Building Industrial Creative
For Sale
Contact for pricing
1136 S Albro Pl, Seattle, WA 98108
Two interconnected buildings converted from a historic bottling plant for flexible production, warehouse, office, retail, and event use.
Property Size32,143 SF
Price / SF$295.55
Days on Market317
Property Features for 1136 S Albro Pl
General Information
Standard status
Active
Size
32,143 SF
Property subtype
INDUSTRIAL
Site & Location
Neighborhood
Georgetown
Highway Access
Yes
Listing Agency:
Meriwether Advisors, LLC
(206) 816-1579
Listed By:
Matthew Brennan
(206) 459-0782
Source:
Moodyscre
Added: Dec 16, 2025
Changed: Oct 26
Last Checked: Oct 28 at 11:36AM
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
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Investment Insights
Based on property information with market context.
This rare two-building industrial and creative campus was adapted from a historic bottling plant and shaped by the influence of architect Tom Kundig of Olson Kundig and the direction of Charles Smith. The offering preserves authentic industrial character while creating a distinctive facility designed to support multiple operating needs.
The properties are described as being in immediate proximity to Boeing Field and I-5, supporting convenient access for a wide range of users.
The campus provides flexibility across production, warehouse, office, retail, and hospitality or event uses, with the overall configuration intended to accommodate a mix of functional environments across the two buildings.
The properties are described as being in immediate proximity to Boeing Field and I-5, supporting convenient access for a wide range of users.
The campus provides flexibility across production, warehouse, office, retail, and hospitality or event uses, with the overall configuration intended to accommodate a mix of functional environments across the two buildings.
Key Highlights
- Two interconnected buildings converted from a historic bottling plant
- Flexible use space for production, warehouse, office, retail, and hospitality/event uses
- Designed by architect Tom Kundig (Olson Kundig) and Charles Smith, reflecting an adaptive‑reuse industrial campus
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$338,466
Cap Rate
3.56%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$6,769,320
$6.8M
Cap Rate 7%
$4,835,229
$4.8M
Cap Rate 9%
$3,760,733
$3.8M
Market Conditions
NOI Build-Up for 32,143 SF
Gross rent
$578.6K $18.00/SF
− Vacancy
−$57.9K −$1.80/SF
EGI
$520.7K $16.20/SF
− OpEx
−$182.3K −$5.67/SF
NOI
$338.5K $10.53/SF
Area
Seattle, WA
Vacancy
10.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
35.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$6,769,320
Cap Rate 7%
$4,835,229
Cap Rate 9%
$3,760,733
Alternative Uses
Best Use
Flex RnD
$4.84M
$4.23M – $5.64M
NOI $338,466 @ 7.0% cap · market cap 3.56%
Second Best
Industrial
$4.16M
$3.64M – $4.85M
NOI $290,945 @ 7.0% cap · market cap 3.06%
Theoretical Best
Office A
$9.67M
$8.46M – $11.28M
NOI $676,922 @ 7.0% cap · market cap 7.13%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,219
Businesses Nearby
Balanced
Demand for This Use
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Business Placement
Demographics for 98108, WA
25,009
Population
9,096
Households
2.7
Avg Household Size
37
Median Age
37%
College-Educated
83%
High-School Grad
7.4 sq mi
ZIP Area
3,380
Density / Sq Mi
$90,806
Median Household Income
$48,703
Median Earnings
$1,463
Median Rent
$693,500
Median Home Value
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Market
Vacancy Rate% for Industrial in Seattle, WA
Similar Off Market Nearby
- Foodz Factory — 921 S Harney St, Seattle, WA 98108
- nataliesffts — 1225 S Angelo St, Seattle, WA 98108
- Conscious Eatery — 5620 6th Ave S Building T, Seattle, WA 98108
Frequently Asked Questions
What type of property is this?
Flex space - Two interconnected buildings converted from a historic bottling plant for flexible production, warehouse, office, retail, and event use.
Where is this flex space located?
The property is located at 1136 S Albro Pl Seattle, WA.
What is the asking price?
The asking price for this property is $9,500,000.
What are key features of this property?
This property features: Two interconnected buildings converted from a historic bottling plant; Flexible use space for production, warehouse, office, retail, and hospitality/event uses; Designed by architect Tom Kundig (Olson Kundig) and Charles Smith, reflecting an adaptive‑reuse industrial campus
