Technical
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Property profile

3116 Smith St Seattle, WA 98199

OFF-MARKET
Retail properties & Spaces
3,006 SF Built 1955
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Property summary

AI-generated overview

This exceptional 3,006 square foot commercial condominium in Seattle's desirable Magnolia Village presents a unique investment opportunity. The property, built in 1955 and extensively renovated in 2019, comprises two separate units within a single building, offering flexibility for individual sale or combined ownership. Each unit boasts a private kitchenette and restroom, enhancing functionality and appeal to a wide range of tenants. The building sits on a 2,771 square foot lot and features excellent visibility and signage opportunities, a rare find in this location. The property benefits from ample hard-to-find outdoor space, a significant advantage for businesses seeking customer interaction or employee amenities. Currently vacant, this property is zoned NC3P-55(M), allowing for diverse uses including office, retail, residential, and live/work spaces, maximizing its potential for future income generation. The two-story building offers a total of 3,006 square feet, providing ample space for a variety of commercial ventures. The asking price is $2,500,000, representing a compelling investment in a thriving Seattle neighborhood. This is a rare opportunity to acquire a well-maintained, versatile commercial property in a highly sought-after location. The property's location at 3116 West Smith St, Seattle, WA 98199, places it within easy reach of various amenities and transportation options.

Property profile

Verified
Property type Retail properties & Spaces
Year built 1955
Total area 3,006 SF

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Current use

Occupant on record · Public records
  • Property Management Company Homeowners' Association
  • Condominium Complex
  • Construction Company General Contractor
  • High School Daycare Center

Location

3116 Smith St Seattle, WA 98199
Seattle metro
Google Maps

Value estimations

Realmo proprietary · 4 methods
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Owner & transaction history

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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