207 1St AveSeattle, WA 98104

  • Office properties
  • 13,370 SF
For Lease
$28/SF/YR View listing

Property Details for 207 1St Ave

Year built
1900
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Lot size
0.08 AC
Property size (Sq ft)
13,370 SF
Zone code
PSM-100
Property type
Office properties
Property subtype
Office buildings
APN
524780-0120
APU
5247800120

Description

This exceptional Seattle commercial property, the Skagit Building, offers a unique blend of historic charm and modern functionality. Located at 207 1st Ave S, in the vibrant 98104 zip code, this three-story building boasts 13,370 total square feet and is classified as a Class B property. Originally constructed in 1900 and renovated in 1975, the building retains its character with high ceilings and exposed brick walls, creating a desirable creative office environment. The property is currently configured for multiple tenants and offers flexible lease options. Two spaces are immediately available, with a minimum leasable area of 1,201 square feet and a maximum of 2,875 square feet. The building's prime location in Seattle, Washington, provides excellent access to transportation and amenities. The property's classification as both Executive and Creative Office space makes it ideal for a variety of businesses seeking a unique and inspiring workspace. Currently, 1,201 square feet of space is vacant and ready for immediate occupancy. This is a rare opportunity to secure office space in a historic Seattle building with significant character and modern conveniences. Inquire today to learn more about leasing options and explore the possibilities this property offers.

Valuation
by Paperhouses methods

Valuation date:
Dec 11, 2024
  • CAP approach

    CAP return
    Valuation
    6%
    $3,617,955
    6.5%
    $3,339,651
    7%
    $3,101,104
  • Comparable approach

    Method
    Valuation
    Relative Method
    $3,585,352
    Geo Method
    $2,574,794
  • Alternative Use

    Use
    Valuation
    Residential
    $4,141,167
    Hospitality
    $3,793,286
    Educational
    $3,155,970
    Medical
    $3,264,508
    Retail
    $4,909,286
207 1St Ave, Seattle, Washington

Location Insight

City
Seattle
County
King
State
Washington
Latitude
47.6006
Longitude
-122.335
CBSA code
42660
CBSA name
SEATTLE-TACOMA-BELLEVUE, WA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2022
$14,235
$1,381,900
$291,900
$1,673,800
-
$1,381,900
$291,900
$1,673,800

FAQs

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