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    1518-1524 3Rd Ave Seattle, WA 98101

    For Sale
    $2,500,000

    Seven-story office building with retail and redevelopment potential.

    Property size:
    41,705 SF
    Lot size:
    0.16 Acres

    Property Features for 1518-1524 3Rd Ave

    General Information

    Size
    41,705 SF
    Lot size
    0.16 Acres

    Source: Lee & Associates Commercial Real Estate Services Agent Alex Muir

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

    Overview

    Pike-Pine Corridor Office Building

    This 41,705-square-foot, seven-story office building with one floor of retail space is located in the Pike-Pine Corridor, a short distance from the waterfront. The property is adjacent to Westlake Station, Park, and Retail Center. The mid-size floorplate offers smaller tenants the opportunity to be full-floor users. The property was recently upzoned as part of the Mayor of Seattle’s Downtown Activation Plan, offering long-term residential redevelopment potential. This presents a value-add or owner-user opportunity.
    Location Intelligence

    Current Use by Public Records

    Office buildings

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Seattle
    County
    King
    State
    Washington
    Longitude
    -122.3607424
    Latitude
    47.6329696

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    FAQs

    What type of property is this?
    Office building - Seven-story office building with retail and redevelopment potential.
    Where is this office building located?
    The property is located at 1518-1524 3Rd Ave Seattle, WA.
    What is the asking price?
    The asking price for this property is $2,500,000.
    What are key features of this property?
    This property features: - Residential redevelopment potential due to recent upzoning.; - Prime location in the Pike-Pine Corridor, near the transforming waterfront and adjacent to Westlake Station, Park and Retail Center.; - Value-add / Owner-user opportunity.
    (253) 303-1983
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    1518-1524 3Rd Ave Seattle, WA 98101
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1518-1524 3Rd Ave Seattle, WA 98101
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