308 9Th Ave Seattle, WA 98109

This exceptional 47,405 square foot, eight-story commercial building is situated on a 0.16-acre lot in Seattle's vibrant South Lake Union neighborhood at 308 9th Ave N, zip code 98109. The property boasts a highly desirable SM-SLU 175/85-280 zoning designation, offering flexibility for various development options, including multifamily, life science, or hospitality uses, in addition to the existing office space. Currently, the building is fully occupied, generating a substantial in-place yield. Significant pre-development work, exceeding $1.4 million, has already been completed, including securing a Master Use Permit and preparing building permits for issuance, substantially reducing time to delivery and stabilization for a future developer. The property includes seven parking spaces. Its central location provides unparalleled access to public transportation, including bus routes, the Seattle Streetcar, light rail, Interstate 5, and Highway 99. The area is renowned for its walkability (Walk Score of 98), proximity to numerous amenities, restaurants, and the central business district, and is home to major employers in technology, life sciences, and other key industries. This presents a unique opportunity to capitalize on the strong existing yield while exploring future redevelopment potential to maximize returns. The King County APN is 198620-0160.