2200 1St Ave Seattle, WA 98121

Located in the heart of the Belltown neighborhood, three blocks north of Pike Place Market, this property presents a value-add investment opportunity. The existing three-story building, with a gross square footage of 9,990, offers versatility as either multifamily residential units or a hotel. The building contains 13 living units, each equipped with a private kitchen and bathroom. The street-level retail space is currently occupied by a convenience store but could be converted into a hotel lobby or other use. The lower level includes shared laundry services, storage closets, a utility room, and a small shop area. The property also features 9 on-site surface parking stalls. The building is a charming brick structure that underwent a near-full renovation in 1980 and has a newer roof. Situated at the corner of 1st Avenue and Blanchard Street, the property benefits from a highly visible corner location. Its proximity to the redesigned Seattle Waterfront, Pike Place Market, the Seattle Center, and the Space Needle enhances its appeal. The property maintains significant utility with existing improvements and offers strong potential for high-rise zoned redevelopment in the near or long term. The property size is 8,330 square feet.