11552 15th NE Ave Seattle, WA 98125-6322

Property Details for 11552 15th NE Ave

Year built

1945

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.37 lot acres

Property size

5,656 SF

Zone code

NC2-55 (M)

Property type

Outlet malls

APN

679810-0765

APU

6798100765

Description

This exceptional Seattle storefront, located at 11552 15th Ave NE, offers a compelling redevelopment opportunity. The 5,656 square foot building, constructed in 1945 and renovated in 1960, sits on a 16,259 square foot lot and boasts a unique half-barrel roof design creating an open floor plan. Currently 100% occupied by two retail tenants under a NNN lease with one year remaining, the property generates significant cash flow, providing immediate return on investment. The building features back-to-back ADA restrooms and a utility closet on the first floor, and a 900 square foot second floor with additional restrooms. A long-standing food truck tenant occupies the northwest corner of the lot, adding to the property's income stream. Zoned NC2-55 (M), the flat terrain is ideal for mid-rise development, allowing for future expansion and increased value. This property presents a rare chance to acquire a well-located, income-producing asset in a thriving Seattle neighborhood, close to major amenities including malls, theaters, and sports arenas. The asking price is $2,975,000, representing a price per square foot of $525.99 and a 2.65% cap rate. This is a perfect opportunity for owner-users or developers seeking a strong foothold in the Seattle market.

Location Insight

City

Seattle

County

King

State

Washington

Longitude

-122.312

Latitude

47.7137

CBSA code

42660

CBSA name

SEATTLE-TACOMA-BELLEVUE, WA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments