2000 Union St Seattle, WA 98122
- Office Properties & Spaces
- 7,000 SF
Current Use by Public Records
- Katy's Corner Cafe / Restaurant / Cafe
Property Details for 2000 Union St
- Year built
- 1908
- Property size
- 7,000 SF
- Property type
- Office Properties & Spaces
- Property subtype
- Office space
Description
This exceptional mixed-use building, located at 2000 E Union St in Seattle's vibrant East Union Retail District, presents a compelling value-add investment opportunity. Built in 1908 and extensively renovated in 2021, this two-story structure boasts 7,000 square feet of total space, with 6,920 square feet of net rentable area. Currently housing eight tenants across multiple units, the property generates a strong net operating income (NOI) of $211,000, resulting in an attractive 6.03% capitalization rate. The asking price is $3,500,000. The building sits on a 4,336 square foot lot and is zoned NC2P-40 (M). Its creative office subtype caters to a diverse range of businesses, while the building's historic character adds significant charm and appeal. The property offers potential for further value enhancement through the renovation of four large residential units on the second floor, presenting a unique opportunity to increase income streams and overall property value. This prime location in the heart of the East Union Retail District ensures high visibility and accessibility, making it an ideal investment for discerning buyers seeking a blend of historical character and modern functionality. The property's strong financial performance and significant upside potential make it a truly remarkable opportunity in the competitive Seattle market.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Seattle
- County
- King
- State
- Washington
- Longitude
- -122.306
- Latitude
- 47.6131
