2420 2Nd AveSeattle, WA 98121

Property Details for 2420 2Nd Ave

Year built

1928

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.15 AC

Property size (Sq ft)

6,480 SF

Zone code

DMR/C 95/65

Property type

Office properties

Property subtype

Office buildings

APN

065600-0195

APU

656000195

Description

This exceptional 6,619-square-foot commercial property, located in Seattle's vibrant Belltown neighborhood at the corner of 2nd Avenue and Wall Street, presents a unique investment opportunity. The single-story, 1928-built building underwent a complete renovation in 2011, offering modern amenities within a historic setting. Currently, the entire space is vacant and ready for immediate occupancy. The property sits on a 6,480-square-foot lot and is classified as a Class B building. Its DMR/C 95/65 zoning allows for diverse commercial and multi-family uses, providing flexibility for future development. The Belltown submarket boasts a highly educated workforce, reliable transportation, and is experiencing rapid growth fueled by nearby waterfront redevelopment and Convention Center expansion. This prime location offers unparalleled access to the Central Business District, Seattle Waterfront, retail core, Lake Union, and stadiums. The proximity to Pike Place Market and Seattle Center further enhances its appeal as a thriving, 24-hour neighborhood. This is a rare chance to acquire a well-situated, renovated building in one of Seattle's most dynamic areas. The property features multiple tenancy options. King County APN: 065600-0195.

• CAP approach

  CAP return

  Valuation

  6%

  $1,753,504

  6.5%

  $1,618,619

  7%

  $1,503,003

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,737,702

  Geo Method

  $1,247,918

• Alternative Use

  Use

  Valuation

  Residential

  $2,007,088

  Hospitality

  $1,838,482

  Educational

  $1,529,595

  Medical

  $1,582,200

  Retail

  $2,379,370

Location Insight

City

Seattle

County

King

State

Washington

Latitude

47.6155

Longitude

-122.347

CBSA code

42660

CBSA name

SEATTLE-TACOMA-BELLEVUE, WA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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