WA > Seattle > Belltown
Seattle, WA 98121,3104 Western AVE
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Josh Barnard

Josh Barnard

+1(253) 677-5765
Listed by Kidder Mathews
$2,275,000
Est. payment /mo
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UPDATED:

Key Details

Property Type Commercial

Sub Type Commercial Industrial

Listing Status Active

Purchase Type For Sale

Subdivision Belltown

MLS Listing ID 2369846

Style 61 - Comm Bldg Ovr 10K

HOA Fees $1,000/mo

Year Built 2008

Annual Tax Amount $16,586

Property Sub-Type Commercial Industrial

Property Description

Secure access, 72-stall parking garage located in a Class A condo in Belltown, blocks to Seattle's waterfront & Seattle Center. 69 car spaces, 3 motorcycle stalls. Current monthly parking rates are below market with immediate upside potential allowing for a likely 7.6% cap rate. Out-of-town seller willing to carry the contract at 6.25% for 5 years with $1M down payment. Shrinking inventory of parking spaces as new construction typically provides less parking than needed and surface parking lots are redeveloped. Near $0 in maintenance costs given condo structure / HOA responsibility. Located within a well-maintained building. Car collector/owner-occupant opportunity. 40-50 spaces occupied by office building across the street with no parking.

Location

State WA

County King

Area 701 - Belltown/Downtown Seattle

Interior

Fireplace false

Others

Senior Community No

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Josh Barnard

Josh Barnard

+1(253) 677-5765

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