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4847 California Ave - Commercial Condo 2,415 SF Office/Retail Condo Unit Offered at $1,743,504 CAD in Seattle, WA 98116
INVESTMENT HIGHLIGHTS
- 2,415 SF commercial office condo in the heart of West Seattle's Alaska Junction
- Currently configured with 4 private offices, large conference room, 2 private restrooms, kitchenette and break area
- Currently leased to two long-term tenants at below market rate rent
- 12+ ft ceilings, fully sprinklered, air conditioned, 4 deeded parking stalls & a 200+ SF deeded storage unit located across the hall from the unit
- Over 96 feet of street frontage on California Ave SW
- Owner has the ability to terminate one or both of the leases w/ 6-months notice - or do nothing & continue to collect over $66,500/Yr w/ ann. increase
EXECUTIVE SUMMARY
Exceptional opportunity to own a 2,415 SF street-level commercial condo in West Seattle's Alaska Junction. This commercial condo has excellent visibility w/ 96 ft of street frontage on California Ave SW. Currently configured as an office with 4 private offices, conference room, 2 private restrooms, kitchenette, A/C, 12 ft ceilings, fully sprinklered, 4 dedicated parking stalls & a huge storage unit. Leased to long-term tenants (CPA & Law Firm) at below market rent on a NNN lease through 12/31/29. However, owner has the right to terminate the lease w/ 6 months notice. Rare opportunity for an investor seeking stable cash flow or an owner-user planning future occupancy, as this unit offers tons of versatility as either an office or retail use.
PROPERTY FACTS
AMENITIES
- Smoke Detector
UNIT AMENITIES
- Air Conditioning
- Cable Ready
- Dishwasher
- Storage Space
- Heating
- Tile Floors
- High Speed Internet Access
- Sprinkler System
- Carpet
- Wi-Fi
- Double Pane Windows
- Office
- Window Coverings
SITE AMENITIES
- 24 Hour Access
- Controlled Access
- Clubhouse
- Picnic Area
- Security System
- Gameroom
- Grill
- Wheelchair Accessible
- Recycling
- Storage Space
- Bicycle Storage
- Conference Rooms
- Elevator
- Multi Use Room
- Sundeck
- Public Transportation
- Private Bathroom
- Fiber Optic Internet
1 UNIT AVAILABLE
Unit #100
| Unit Size | 2,415 SF | Cap Rate | 5.32% |
| Price | $1,743,504 CAD | NOI | $92,834.27 CAD |
| Price Per SF | $721.95 CAD | No. Parking Spaces | 4 |
| Condo Use | Office/Retail | APN/Parcel ID | 769740-0010 |
| Sale Type | Investment or Owner User |
| Unit Size | 2,415 SF |
| Price | $1,743,504 CAD |
| Price Per SF | $721.95 CAD |
| Condo Use | Office/Retail |
| Sale Type | Investment or Owner User |
| Cap Rate | 5.32% |
| NOI | $92,834.27 CAD |
| No. Parking Spaces | 4 |
| APN/Parcel ID | 769740-0010 |
DESCRIPTION
Exceptional opportunity to own a 2,415 SF street-level commercial condo in West Seattle's Alaska Junction. This commercial condo has excellent visibility w/ 96 ft of street frontage on California Ave SW. Currently configured as an office with 4 private offices, conference room, 2 private restrooms, kitchenette, A/C, 12 ft ceilings, fully sprinklered, 4 dedicated parking stalls & a huge storage unit. Leased to long-term tenants (CPA & Law Firm) at below market rent on a NNN lease through 12/31/29. However, owner has the right to terminate the lease w/ 6 months notice. Rare opportunity for an investor seeking stable cash flow or an owner-user planning future occupancy, as this unit offers tons of versatility as either an office or retail use.
SALE NOTES
Rare ability for a new owner to terminate all, or a portion of the leased space, to make the unit work for their square footage needs. Alternatively, a new owner can also do nothing and continue to collect income from steady long-term tenants.
Presented by
4847 California Ave - Commercial Condo
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