10000 Lake City Way NE, Seattle, WA 98125

$2,350,000

Listing courtesy of Windermere Real Estate Co..

List Price
$2,350,000
Status
ACTIVE
MLS#
1975571
Days on Market
5

Property Description

Vintage car collectors, mechanics, cannabis processors/producers, and creative investors take note… this heavy timber, 3-story, 7,840sf commercial building features a 3,000sf clear-span garage/shop/showroom, under 3,200sf street level retail, & above 1,650sf of potential live-work space. Rare opportunity for Owner/User looking to shape their future. Income stability of long-term tenants; flexibility of short-term leases. Built 1987, 3-phase power, mid level 37’x80’, 8' clear height, 16' gar door, washroom & shower. Street level configured as 4 suites, gas heat, 6 parking stalls. Ground level 3/4 bath & laundry. NC3-55(m) zone allows I-502 use over 250’ from school, daycare & playground. FAR 3.75, means 64Ksf unused development capacity.

Additional Information

Community
Meadowbrook
Building Condition
Good
Style
60 - Comm Bldg Und 10K
Year Built
1987
# of Assigned Spaces
12
Roof
Tile
Tax Year
2022
Potential Terms
Cash Out
Interior Features
Concrete, Wall to Wall Carpet
Flooring
Concrete, Carpet
Driving Directions
From I5 N take Lake City Way exit continue to 3rd bldg after NE 95th. From I5 S take NE 80th exit, left lane over freeway, east on 80th, left onto Lake City Way continue to 3rd bldg after NE 95th.
Heating/Cooling Type
Stove/Free Standing
Electric Expenses
3250
Other Expenses
715
Energy Source
Natural Gas
Net Operating Income
$74,448
Gross Adjusted Income
$95,076
Gross Scheduled Income
$100,080
Water/Sewer/Garbage Expenses
$2,250
Cap Rate
3.17
Vacancy Rate
5
Total Expenses
$20,628
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