3228 1st Avenue S in Seattle

Excellent income-producing investment opportunity in Seattle's thriving SODO district, just one mile south of downtown and minutes from the stadiums. This highly visible corner property offers outstanding frontage along First Avenue South, a 14,100 SF lot, and convenient access to I-5, I-90, and SR-99. The 20,975 SF building features multiple commercial tenants, diversified income streams, and additional leasing upside. The property's largest space, approximately 9,000 SF, was recently secured under a new 10-year NNN lease with Outland Club LLC. The building generates $324,360 in annual base rental income moving forward. Additional income comes from 13 leased band/practice rooms, a long-term commercial tenant (Fastest Labs), and a recently leased upstairs work loft. Significant upside remains with two vacant ground-floor commercial storefronts along First Avenue South totaling 2,400 SF, one upstairs work loft approximatly 2,000 SF, and four additional band/practice rooms available for lease. With a new long-term anchor tenant, established cash flow, diversified rental income, and opportunities to further increase revenue through lease-up, this property offers investors an excellent opportunity to acquire a substantial income-producing asset in Seattle's desirable SODO district.

This listing is provided courtesy of NWMLS.
Listing Broker: Berkshire Hathaway HS NW; Paul B. Poirier.

Show property location on a map

I want to see this property

Bookmark this listing

Notify me of similar listings

Mortgage Payment Calculator

Find listings near this property

Property Details