Bought with Skyline Properties, Inc.
$1,850,000
$1,850,000
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5,900 Sqft Lot
SOLD DATE : 03/28/2022
Key Details
Sold Price $1,850,000
Property Type Commercial
Sub Type Commercial Industrial
Listing Status Sold
Purchase Type For Sale
Subdivision Fremont
MLS Listing ID 1871021
Sold Date 03/28/22
Style 73 - Office
Year Built 1980
Annual Tax Amount $18,030
Lot Size 5,900 Sqft
Property Description
Rare opportunity to own a well maintained income producing property located in the popular and very walkable Fremont neighborhood. This one of a kind diversified 9-tenant office/retail building is well positioned on a high visibility section of Leary Way NW. This property’s current rents are very attractive for the market area allowing significant upside as spaces turn and tenants are put on traditional NNN leases similar to nearby competing properties. With an achievable market cap of 7.02%, $240 per building sq.ft., this opportunity won’t last long. The Leary Building is a low management intensive property and would be a great purchase for either an owner user or an investor looking to exit apartment ownership.
Location
State WA
County King
Area 705 - Ballard/Greenlak
Interior
Fireplace false
Others
Senior Community No
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