2605 E Cherry St, Seattle, WA 98122
Central District/Cherry St Development Site 2,310 SF | Retail Building
EXECUTIVE SUMMARY
SALE PRICE: $3,100,000.00
PROPERTY OVERVIEW
• Square feet: 7,682
• Zoning: NC1-55(M)
• 2 Parcels on Corner Lot
• Parcel #1: 1211000020
• Parcel #2: 1211000035
CURRENT MARKET ANALYSIS
• Subject property is zoned for mixed use commercial and residential.
• Market cap Rate in the subject properties area is 3.9%
• Vacancy rate in The Central market of Seattle ids 6.1% after being at a staggering 10%
• Average market asking rent is $1,819
• Average market price per unit is $448,000.00
• Average current Rents per unit is as follows:
• 3 bedrooms: $3,052
• 2 bedrooms: $2,614
• 1 bedroom: $1,880
• Studio apartment: $1,366
• Area is a young population looking for cheaper rent than the alternative downtown Seattle.
• After the area was affected by the protests, the vacancy rate has rebounded and approaching historical averages as well as rents have risen to the previous peak.
• Rent growth in the past 12 months is 5.7%
Contact us:
206-434-5424
LET'S CHAT
Looking for more information or wish to speak with someone from Rob Gasca Real Estate Group? Get in touch with us today by phone or email, listed below. We look forward to hearing from you.
Maple Leaf Real Estate/Maple leaf Property Management/Rob Gasca Real Estate Group LLC does business in accordance with the Federal, State and Local Fair Housing laws and welcome Persons of all Race, Color, Disability, Religious Creed, Ancestry, Sex, Familial Status, Sexual Preference, Gender Identity, Age and National Origin. We process applications and score is on the criteria described in this policy. We do not accept comprehensive reusable tenant screening reports.
