407 W Galer Street, Seattle, WA 98119
- $1,325,000
Listing courtesy of Windermere Real Estate Midtown.
- List Price
- $1,325,000
- Status
- PENDING
- MLS#
- 2490213
- Days on Market
- 57
- Annual Tax Ammount
- 11289
Property Description
Rare opportunity to purchase a freestanding commercial retail building in a coveted top of Queen Anne location. Studs out remodel in 2007 including all new electrical, plumbing, HVAC & ADA ramp. The 2,086 SF building is currently configured as a Salon & Spa but the open floor plan makes it ideal for many different uses. The first floor is flooded by natural light from the floor-to-ceiling windows fronting West Galer St. and features a large reception/waiting area, 4 salon stations, hair washing space, kitchenette, W/D, storage & restroom. The 2nd floor has a quaint waiting nook, 5 private spa rooms, kitchenette, shower, W/D & restroom. Flexible NC2P-55 zoning allows for a variety of uses including retail, office, residential, etc. Leased to a single tenant on a NNN lease until 12/15/28. No option to extend the lease, but long-term tenant indicates they'd like to stay. Available for an owner-user to occupy upon lease termination, or continue collecting rent and the realizing the benefits of owning a hands-off investment property in an unbeatable location. Please don't disturb tenant.
/u.realgeeks.media/homes77/logo-full.png){kind=logo}
Additional Information
- Community
- Queen Anne
- Building Condition
- Good
- Style
- 75 - Retail
- Year Built
- 1914
- Roof
- Composition
- Tax Year
- 2026
- Potential Terms
- Cash, Conventional
- Flooring
- Hardwood, Travertine
- Driving Directions
- GPS
- Energy Source
- Natural Gas
- Net Operating Income
- $68,400
- Gross Scheduled Income
- $80,939
- Cap Rate
- 5.16
- Total Expenses
- $12,539
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.