You're browsing as guest. Top-line numbers are free. Full reports — owner contacts, refine, methodology — are paid. Guest mode. Top-line is free.
Back to Search
Property profile & analytics
OFF-MARKET Estimated value $4,800,000
Parking lots & garages

601 2nd Ave Seattle, WA 98104-2203

149,040 SF 0.3 ac lot Built 2001
Entity Owned 1-yr Hold ~ Est. High Equity
Property ID
US90-0041254
Property summary
AI-generated overview

This exceptional retail space, part of the iconic Butler Garage in Downtown Seattle's Pioneer Square submarket, offers 1,192 square feet of ground floor commercial area. Located at the corner of Second Avenue and James Street, this property benefits from high foot traffic and proximity to major attractions. The building itself boasts a total of 149,040 square feet across one 12-story building, providing ample space for various uses. The property sits on a 0.29-acre lot and includes 460 parking spaces, a significant advantage in a bustling urban setting. The PSM zoning allows for a variety of retail and restaurant uses. Neighboring businesses include established and popular establishments such as Gary Manuel Salon, The Works, TAT's Delicatessen, and Bill Speidel's Underground Tour, creating a vibrant and synergistic commercial environment. The location is highly desirable, just blocks from the Seattle waterfront and one block from the Smith Tower, a landmark attracting over 80,000 unique visitors annually to its observatory. This presents a unique opportunity to establish a business within a thriving and historically significant neighborhood in King County. The property is currently configured for multiple tenants, offering flexibility for potential lease arrangements. This is a rare chance to secure a retail space in one of Seattle's most sought-after locations.

Property profile
Verified
Property type Parking lots & garages
Use group PARKING GARAGE, PARKING STRUCTURE
Year built 2001
Construction CONCRETE
Total area 149,040 SF
Lot 0.3 ac (12,960 SF)
Zoning code PSM 100/100-130
APN 093900-0155
UPID US90-0041254
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
  • Hill's Barber Shop Barber Shop
  • Thai Star Restaurant
  • Fusion Bistro Indian Cuisine Restaurant
  • Insight Therapy Center Corporate Office
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$4.80M
Owner & transaction history
Smith Tower Investors LLC · 1 yrs held
Smith Tower Investors LLC
since 2024
7 recorded transactions
2025
Price N/A
2024
Price N/A
2019
$31.0M
2017
$30.8M
2012
$14.9M
2007
$12.2M
2001
Price N/A
Zoning & alternative use
PSM 100/100-130 · Seattle, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Source Municipal Code
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 601 2nd Ave?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
More about this property
Thanks! Your message was sent.
Error! Your message wasn't sent.
Please enter your name
Please enter email
Please enter the email in the correct format
Please enter phone
Please enter the number in the correct format
Please enter message