2451 Aurora AveSeattle, WA 98109

Property Details for 2451 Aurora Ave

Year built

1950

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.31 AC

Property size (Sq ft)

3,182 SF

Zone code

C1-55 (M)

Property type

Hotels

Property subtype

Motels

APN

352890-1186

APU

3528901186

Description

This exceptional Seattle commercial land opportunity presents a prime redevelopment site spanning approximately 19,723 square feet. Located on Aurora Avenue North at 2451-2473, this property consists of two parcels (APN 352890-1186 & 352890-1185) zoned C1 – 55 (M), offering a 3.75 FAR. Existing building slabs remain from previous structures, potentially allowing for grandfathered redevelopment options. The site's zoning permits a wide variety of uses, making it highly versatile for future development. This location benefits from proximity to the RapidRide bus line providing convenient access to Downtown Seattle. There's also potential for expansion by assembling this property with the adjacent parcel (APN 352890-1187), adding approximately 5,763 square feet. The asking price for this significant redevelopment opportunity is $1,065,000.

• CAP approach

  CAP return

  Valuation

  6%

  $978,017

  6.5%

  $902,785

  7%

  $838,300

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,005,250

  Geo Method

  $1,440,056

• Alternative Use

  Use

  Valuation

  Residential

  $985,579

  Hospitality

  $902,785

  Educational

  $751,107

  Medical

  $776,938

  Retail

  $1,168,388

Location Insight

City

Seattle

County

King

State

Washington

Latitude

47.641

Longitude

-122.347

CBSA code

42660

CBSA name

SEATTLE-TACOMA-BELLEVUE, WA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

FAQs

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