8050 35Th AveSeattle, WA 98115

Property Details for 8050 35Th Ave

Year built

1948

Construction

FRAME

Lot size

0.26 AC

Property size (Sq ft)

4,061 SF

Zone code

LR2 RC (M)

Property type

Office buildings

APN

044100-0005

APU

441000005

Description

Prime Seattle Wedgwood location presents a unique opportunity for owner-users or developers. This 4,061 square foot (2,398 square feet above grade) property, built in 1948, currently functions as a retail space with multiple offices and includes 11 parking spaces. Situated on an 11,113 square foot corner lot with LR2 RC (M) zoning, it offers significant redevelopment potential for townhomes or multifamily units, per a local architect's assessment. The property boasts a desirable location near restaurants, cafes, grocery stores, schools, parks, and major institutions like the University of Washington and Seattle Children's Hospital. Despite its proximity to amenities, it maintains a quiet, residential feel. A conservation easement, protecting treed habitat on the north side, will be required at closing. Even with this easement, the developable space allows for a substantial build-out, potentially reaching 17,780 square feet. The asking price is $2,000,000. All square footage figures are per King County records. Buyer to verify all information regarding development potential.

• CAP approach

  CAP return

  Valuation

  6%

  $1,095,393

  6.5%

  $1,011,132

  7%

  $938,908

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,234,436

  Geo Method

  $782,067

• Alternative Use

  Use

  Valuation

  Residential

  $1,253,804

  Hospitality

  $1,148,478

  Educational

  $955,520

  Medical

  $988,382

  Retail

  $1,486,364

Location Insight

City

Seattle

County

King

State

Washington

Latitude

47.6882

Longitude

-122.29

CBSA code

42660

CBSA name

SEATTLE-TACOMA-BELLEVUE, WA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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