Building Details

Year Built 1970

Listing Agency: GIBRALTAR, LLC l***@gibraltarusa.com Show Phone

Listed By: LAURA MILLER · License #17709

Source: Corcoran

Added: Jan 21 Changed: Aug 8 Last Checked: Apr 5 at 11:20PM

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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 GIBRALTAR, LLC

Investment Insights

Based on property information with market context.

This is a top (5th) floor, west-facing office space offering abundant natural light and spectacular water views of Elliott Bay. The current buildout includes a reception/waiting area, an open work area, five private offices, a conference room, and a kitchen. A large outdoor deck enhances the appeal of this office. The space can be combined with Suite 500 to create a total of 5,192 rentable square feet. The property size is 2,987 square feet.

Key Highlights

• Spectacular water views of Elliott Bay
• Large outdoor deck for breaks or collaboration
• Top (5th) floor, west‑facing, light‑filled office

Property Analytics

Property Profile

Current Use

Jaya Production Services ... Film Production The j.g. scripps building Business Service Center OHSUN Banchan Deli ... Restaurant SWCA Environmental Consultants Environmental Consultant Defense Tax Partners ... Law Firm

Suggested Use

Top Pick Electrical Service Butcher Daycare Center (Bike/Boat/Book/etc) Store Florist Mobile Phone Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

NNN (Triple Net)

Lease Type

$3.75 /SF/Yr

CAM

Location Intelligence

Trade Area within ½ mile

3,768

Businesses Nearby

Explore this area Business Placement

Demographics for 98119, WA

26,238

Population

15,323

Households

1.7

Avg Household Size

35

Median Age

71%

College-Educated

99%

High-School Grad

2.4 sq mi

ZIP Area

10,933

Density / Sq Mi

$125,021

Median Household Income

$74,038

Median Earnings

$1,963

Median Rent

$1,032,500

Median Home Value

Market

Lease Benchmarks for Seattle, WA

$27.99 /SF/Yr

Avg Asking Price

$4.18–$53.33 /SF/Yr

Price Range

8,652 SF

Avg Space Size

This space is priced 11% below the average of $27.99 /SF/Yr.

Vacancy Rate% for Office in Seattle, WA

8.5% 2019

13.4% 2020

17.6% 2021

19.5% 2022

24.3% 2023

30% 2024

32.3% 2025

Questions? Ask Rey

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What type of property is this? Where is this office units located? What is the lease rate? Find similar properties ... What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Office units - Light-filled office space with deck and water views.

Where is this office units located?

The property is located at 221 1st Ave W Seattle, WA.

What is the lease rate?

The lease rate is $6,223/Mo.

What are key features of this property?

This property features: Spectacular water views of Elliott Bay; Large outdoor deck for breaks or collaboration; Top (5th) floor, west‑facing, light‑filled office