14401 Greenwood AveSeattle, WA 98133

Property Details for 14401 Greenwood Ave

Year built

1928

Construction

WOOD

Lot size

0.33 AC

Property size (Sq ft)

1,920 SF

Zone code

NC2P-55 (M)

Property type

Investment properties

Property subtype

Live-work space

APN

198020-0150

APU

1980200150

Description

This exceptional mixed-use property at 14401 Greenwood Ave N in Seattle, WA, presents a compelling value-add investment opportunity. The 14,291 square foot building, constructed in 1928 and renovated in 1979, sits on a 14,400 square foot lot and boasts six units currently occupied by a diverse mix of tenants including restaurants, a convenience store, and residential apartments. The property is classified as Class B, with a NNN lease type and multi-tenancy. Currently priced at $2,799,000 ($195.86/sq ft), it offers a pro-forma cap rate of 7.10%. All rents are below market value, providing immediate upside potential for new ownership through lease renewals and rent increases. The property's NC2P-55(M) zoning allows for significant flexibility and future development potential, with a maximum building size of up to 54,000 square feet. Its prime location in the Broadview neighborhood, near the Seattle Golf Club, offers convenient access to the South Shoreline/148th St light rail station (under construction) and the Shoreline Place retail center. The property's existing configuration allows for up to 10,000 square feet of space to become available for owner-occupancy or lease to a larger tenant. This presents a unique opportunity to capitalize on the strong growth in the area and create significant long-term value. The property's APN is 1980200150.

• CAP approach

  CAP return

  Valuation

  6%

  $517,891

  6.5%

  $478,053

  7%

  $443,906

• Comparable approach

  Method

  Valuation

  Relative Method

  $583,629

  Geo Method

  $369,754

• Alternative Use

  Use

  Valuation

  Residential

  $592,786

  Hospitality

  $542,989

  Educational

  $451,760

  Medical

  $467,297

  Retail

  $702,738

Location Insight

City

Seattle

County

King

State

Washington

Latitude

47.7334

Longitude

-122.356

CBSA code

42660

CBSA name

SEATTLE-TACOMA-BELLEVUE, WA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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