For Sale
$15,030,000
98 Union St Seattle, WA 98101
High-traffic retail, value-add opportunity.
Overview
- Added:
- Dec 11, 2024
- Days on market:
- 137
Highlights
- Prime Seattle location in Pike Place Market, directly connected to the Market with over 10 million annual visitors.
- Value-add opportunity: Lease up of 12,265 SF lower level space projects a 53% NOI increase in Year 3; flexible commercial uses allowed.
- Strong leasing momentum: Recent leases at $52-$65/SF NNN with tenants including Vampire Penguin, Plantiful, and De'Core.
- Established anchor tenant: Pike Brewing Company, a high-performing tenant consistently meeting percentage rent thresholds, owned by a reputable Seattle hospitality group.
- Long-term tenancy: Over 39% of GLA occupied for over 10 years, with a 7.63-year WALT.
- Benefits from the nearby $3.5 billion waterfront revitalization project (est. 2025) and the expected influx of visitors for the 2026 World Cup.
Property Details for 98 Union St
- Property type
- Retail properties, Retail space
- Square Feet
- 48,883 SF
- Year Built
- 1985
Location Insight
- City
- Seattle
- County
- King
- State
- Washington
- Latitude
- 47.60783964
- Longitude
- -122.33913056
Nearby Similar for Sale
FAQs
- What type of property is this?
- Retail property - High-traffic retail, value-add opportunity.
- Where is the retail property located?
- The property is located at 98 Union St Seattle, WA.
- What is the asking price?
- The asking price for this property is $15,030,000.
- What are key features of this property?
- This property features: Prime Seattle location in Pike Place Market, directly connected to the Market with over 10 million annual visitors.; Value-add opportunity: Lease up of 12,265 SF lower level space projects a 53% NOI increase in Year 3; flexible commercial uses allowed.; Strong leasing momentum: Recent leases at $52-$65/SF NNN with tenants including Vampire Penguin, Plantiful, and De'Core.
- How can I contact the broker?
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