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Premier Office-Loft Adaptive Reuse
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2501 Elliott Ave, Seattle, WA 98121

Premier office space with Elliott Bay views and open floor plan.

Space Size29,922 SF
Days on Market677

Property Features for 2501 Elliott Ave

General Information

Standard status Active
Size 29,922 SF
Property subtype Office, Special Purpose
Lease Type NNN

Building Details

Tenancy Multiple

Spaces For Lease

at 2501 Elliott Ave Contact us

Floors 2-4

Size
29,922 SF
Type
Office, Special Purpose
Lease Type
NNN
Availability
Active
Contact us
Listing Agency: CenturyPacific, LLLP
Listed By: Michael A. Odegard · License #WA 111102
Source: Crexi
Added: Oct 4, 2024 Changed: Aug 8 Last Checked: Aug 11 at 8:31AM

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 CenturyPacific, LLLP

Investment Insights

Based on property information with market context.

Available for rent is a premier office-loft adaptive reuse property. The available space encompasses approximately 28,000 square feet across floors 2-4. The property features unobstructed views of Elliott Bay and open floor plans with perimeter private offices. Architectural details include exposed beam ceilings and abundant natural light. The existing improvements were thoughtfully constructed in 2006 for an education user, with all building systems having been updated. The building retains significant architectural character. Limited parking is available onsite, and additional dedicated parking on the parcel across Elliott Avenue can be made available.

Key Highlights

  • Unobstructed views of Elliott Bay.
  • ±28,000 SF of open floor plan office space** with perimeter private offices.
  • Open to structure exposed beam ceilings and abundant natural light.**

Property Analytics

Current Use

The Allender Center High School The Seattle School of Theology ... College

Suggested Use

Top Pick (Bike/Boat/Book/etc) Store Electrical Service Veterinary Clinic Clothing & Fashion Store Pet Store Butcher

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
$2.25 /SF/Yr
CAM

Location Intelligence

Trade Area within ½ mile

7,538
Businesses Nearby

Demographics for 98121, WA

21,411
Population
15,781
Households
1.4
Avg Household Size
35
Median Age
78%
College-Educated
98%
High-School Grad
0.4 sq mi
ZIP Area
53,528
Density / Sq Mi
$148,974
Median Household Income
$118,893
Median Earnings
$2,329
Median Rent
$796,600
Median Home Value

Market

Lease Benchmarks for Seattle, WA

$28.39 /SF/Yr
Avg Asking Price
$4.18–$53 /SF/Yr
Price Range
12,157 SF
Avg Space Size

This space is priced 47% below the average of $28.39 /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
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Questions? Ask Rey
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Frequently Asked Questions

What type of property is this?
Office units - Premier office space with Elliott Bay views and open floor plan.
Where is this office units located?
The property is located at 2501 Elliott Ave Seattle, WA.
What is the lease rate?
The lease rate is $15 SF/Yr.
What are key features of this property?
This property features: Unobstructed views of Elliott Bay.; ±28,000 SF of open floor plan office space** with perimeter private offices.; Open to structure exposed beam ceilings and abundant natural light.**
More about this property
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