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6348 6Th Ave S Seattle, WA 98108

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For Sale
$1,900,000

Rare value-add investment in Seattle's Georgetown industrial market.

Property Features for 6348 6Th Ave S

General Information

Standard status
Active

Building Details

Year built
1985

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Listing Contact
Kyle Sterling
Source: Corcoran

Listing Agency: NAI PUGET SOUND PROPERTIES Listing Agent: Kyle Sterling

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

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Overview

Georgetown Industrial Investment Opportunity

This property presents a rare value-add investment opportunity in Seattle's Georgetown industrial market. The current rents are $1.12 per square foot, which is significantly below the market rents of $1.40 to $1.50 for comparable spaces in the area, suggesting a potential for rental upside for investors. The list price of $1,900,000 is below the current tax assessed value of approximately $2,100,000. The price per square foot at the list price is $260, which is below the market price of $300 to $400 per square foot for similar-sized industrial buildings in the area. The property is situated in a sought-after location.
Location Intelligence

Current Use by Public Records

Cascade Electrical Agents ... Electrical Service Lake Defense Force Environmental Consultant

Suggested Use

Restaurant Real Estate Agency Law Firm Spa & Massage Center Dental Office Hair Salon Building Supply Auto Repair Shop Nail Salon Big Box & Wholesale Store

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

Location Insight

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  • Local Demand
City
Seattle
County
King
State
Washington
Longitude
-122.3258159
Latitude
47.54486

FAQs

What type of property is this?
Industrial property - Rare value-add investment in Seattle's Georgetown industrial market.
Where is this industrial property located?
The property is located at 6348 6Th Ave S Seattle, WA.
What is the asking price?
The asking price for this property is $1,900,000.
What are key features of this property?
This property features: - Significant Rental Upside: Current rents are $1.12/sf, below market rents of $1.40-$1.50/sf.; - Price Below Assessed Value: List price of $1,900,000 is $200K lower than the tax assessed value of ~$2,100,000.; - Low Cost Basis: Price/sf of $260 is well below the market price/sf of $300-$400 for similar buildings.
More about this property
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