4241 21st Avenue W, Seattle, WA 98199
- $2,500,000
Listing courtesy of Windermere Real Estate Midtown.
- List Price
- $2,500,000
- Status
- PENDING
- MLS#
- 2321503
- Price Change
- ▼ $1,000,000 1769153459
- Days on Market
- 530
- Annual Tax Ammount
- 45257
Property Description
Remodeled 4-story office building featuring a secured lobby entrance, 23+ off-street parking spaces, building conference room, shower facility, hospital grade HEPA filtration system and incredible views of the Ship Canal and Fisherman's Terminal from every floor. Great location close to Vertical World Climbing Gym, Discovery Park, and many great restaurants and breweries. This is an excellent opportunity for an investor or an owner-user to acquire an updated property with stabilized income from long-term tenants with below market rents. Flexible leases allowing a new owner to occupy a portion or all of the building. 4.6% cap rate based on current income and 62% occupancy. Actual 10%+ cap rate with 90% occupancy. Please don't disturb current tenants.
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Additional Information
- Community
- Magnolia
- Building Condition
- Updated/Remodeled
- Style
- 61 - Comm Bldg Ovr 10K
- Year Built
- 1979
- Roof
- Built-Up, Flat
- Tax Year
- 2026
- Potential Terms
- Cash, Conventional
- Flooring
- Ceramic Tile, Concrete, Laminate, Carpet
- Driving Directions
- 15th West to Emerson (just south of ballard bridge.) West on Emerson, first right past Fisherman's Terminal. Property about 1/3rd way down block west side of street.
- Electric Expenses
- 23524
- Other Expenses
- 63679
- Energy Source
- Electric
- Net Operating Income
- $251,410
- Gross Adjusted Income
- $413,100
- Gross Scheduled Income
- $459,000
- Water/Sewer/Garbage Expenses
- $12,051
- Cap Rate
- 10.05
- Vacancy Rate
- 10
- Total Expenses
- $164,945
Based on information submitted to the MLS GRID as of . All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.IDX information is provided exclusively for consumers’ personal noncommercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.