509 2Nd Ave Seattle, WA 98104
This exceptional retail opportunity is located on the ground floor of the iconic Smith Tower, a 37-story Class B building constructed in 1912 and renovated in 1999. Boasting 304,346 total square feet on a 12,197 square foot lot, this multiple-tenancy property offers high visibility in the heart of Seattle's Pioneer Square submarket, near the waterfront and major sporting venues. The building features 146 parking spaces and elevators. The property's PSM zoning allows for a variety of retail and restaurant uses. King County taxes are $17.76 per square foot. Situated at 509 2nd Ave, Seattle, WA 98104 (APN 0939000060), this location benefits from the high foot traffic generated by the Smith Tower's Observatory, which attracts over 80,000 unique visitors annually. The surrounding area is known for its historic architecture, vibrant art scene, diverse restaurants, and thriving nightlife, creating a dynamic and attractive environment for businesses. This is a rare chance to establish a presence in one of Seattle's most historically significant and well-visited landmarks.
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendComparables
6 recent transactions · within 1.5 miComparable in this City
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Property description
Physical attributes from public recordsZoning & alternative use
No recorded transactions found for this property.
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.