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3104 Western Ave Seattle, WA 98121

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For Sale
$2,275,000

72-stall parking garage in Belltown with income potential.

Building Details

Year built
2008

Source: KIDDER MATHEWS Agent DAN SWANSON

Displayed information is deemed reliable but is not guaranteed and should be independently verified.


Overview

Belltown Parking Garage with Upside

This 72-stall parking garage is located in a Class A condominium building in the Belltown neighborhood, a few blocks from Seattle's waterfront and Seattle Center. The garage includes 69 car spaces and 3 motorcycle stalls. The current monthly parking rates are below market value, presenting an opportunity for increased income. The seller is willing to carry the contract at 6.25% for 5 years with a $1 million down payment. The property benefits from secure access and is situated within a well-maintained building. The condominium structure results in minimal maintenance costs due to HOA responsibility. There is potential for use by a car collector or owner-occupant. Approximately 40 to 50 spaces are occupied by an office building across the street that lacks parking facilities.
Property Profile Insight Report Location Intelligence

Current Use by Public Records

Trio Condos. Condominium Complex Laura A. Mcburnett, PTA Physical Therapy Clinic Motionspace Architecture Design Architect VELOCIPEDE architects inc Architect Anthony Alan Records, ... Recording Studio

Suggested Use

Law Firm Restaurant Realty agency Spa & Massage Hair Salon Dental Office Nail Salon Clothing Store Food Market Grocery Store

Zoning and permitted uses should be independently verified with local authorities.

Similar Places Nearby

U-Haul Neighborhood Dealer, Kokomo plaza, Budget Car Rental, Seattle Town Car Inc ™, Dollar Car Rental

Location Insight

  • Map
  • Local Demand
City
Seattle
County
King
State
Washington
Longitude
-122.356095
Latitude
47.6180304

FAQs

What type of property is this?
Parking lot & garage - 72-stall parking garage in Belltown with income potential.
Where is this parking lot & garage located?
The property is located at 3104 Western Ave Seattle, WA.
What is the asking price?
The asking price for this property is $2,275,000.
What are key features of this property?
This property features: - Prime location blocks from Seattle's waterfront and Seattle Center.; - Secure access, 72-stall parking garage in a Class A condo building in Belltown.; - High potential 7.6% capitalization rate due to below-market parking rates.
More about this property
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