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700 3rd Ave Seattle, WA 98104-1894

OFF-MARKET Hotels Google Maps
104,352 SF 0.33 ac lot Built 1916
Entity Owned 4-yr Hold ~ Est. High Equity
Estimated value
No estimation on file for this property yet.
Property ID US90-1444254

Property summary

AI-generated overview

This exceptional opportunity presents two available restaurant spaces within the Arctic Club Hotel, a prominent building totaling 104,352 square feet. Located at 700 3rd Ave in the heart of Downtown Seattle, WA 98104, this property offers unparalleled access to Seattle's vibrant culinary scene. The spaces range from 2,042 to 3,000 square feet, providing flexibility for various restaurant concepts. The building's prime location places it adjacent to Seattle's first proposed supertall skyscraper, ensuring high visibility and foot traffic. Furthermore, its proximity to Seattle's thriving tech startup community, popular restaurants, Lumen Field, T-Mobile Park, and the Seattle Waterfront guarantees a diverse and substantial customer base. The estimated net operating expenses are $13.00 per square foot. This is a rare chance to establish a successful restaurant in one of Seattle's most desirable and high-traffic areas. King County location provides access to a large and diverse population. Please note that employees should not be disturbed.

Property profile

Verified
Property type Hotels
Use group HOTEL/MOTEL
Year built 1916
Construction CONCRETE
Total area 104,352 SF
Lot 0.33 ac (14,280 SF)
Zoning code DOC1 U/450/U
APN 094200-0610
UPID US90-1444254

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
  • Advertising Agency Marketing & Advertising
  • Hotel & Motel
  • Hotel & Motel
  • Bar & Pub
  • IT Consulting Firm Tech Support Center

Value estimations

Realmo proprietary · 4 methods
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Comparable Approach Comparable
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Blend (final) Blend
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Owner & transaction history

since 2022
Last sale
$30.3M
6 recorded transactions
2022
$30.3M
2005
Price N/A
1988
Price N/A
1969
Price N/A
1969
Price N/A
1969
Price N/A

Zoning & alternative use

DOC1 U/450/U · Seattle, WA

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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