1908 Madison StSeattle, WA 98122

Property Details for 1908 Madison St

Year built

1901

Construction

WOOD

Lot size

0.12 AC

Property size (Sq ft)

2,802 SF

Zone code

NC3P-75 (M)

Property type

Office buildings

APN

332504-9001

APU

3325049001

Description

This exceptional 2,802 square foot mixed-use property, located at 1908 East Madison St in Seattle's vibrant Capitol Hill neighborhood, presents a unique investment opportunity. Built in 1901, this two-story building boasts 93% occupancy and features four parking spaces. The 0.12-acre lot is zoned NC3P-75 (M), allowing for boutique development potential within this densely populated area. The building's prime location offers unparalleled access to numerous amenities, including Trader Joe's, PCC, Safeway, and several nearby parks. Surrounded by a thriving mix of trendy restaurants, bars, coffee shops, boutiques, breweries, and entertainment venues, this property benefits from its proximity to the Pike/Pine Corridor, downtown Seattle, light rail, First Hill hospitals, Seattle University, and Seattle Central College. Convenient access to the Capitol Hill Streetcar, light rail, and bus routes is further enhanced by the upcoming RapidRide G bus route (scheduled for 2024), promising frequent service to downtown and the Madison Valley. The asking price is $2,750,000, with a land value of $511 per square foot. This presents a compelling opportunity for owner-users or developers seeking a high-potential investment in a rapidly evolving neighborhood. The property's mid-block location provides access to both East Madison Street and 19th Avenue. Much of the adjacent Mount Zion Baptist Church property is undergoing redevelopment into apartments and townhomes, further indicating the area's growth trajectory.

• CAP approach

  CAP return

  Valuation

  6%

  $758,228

  6.5%

  $699,903

  7%

  $649,910

• Comparable approach

  Method

  Valuation

  Relative Method

  $751,395

  Geo Method

  $539,609

• Alternative Use

  Use

  Valuation

  Residential

  $867,880

  Hospitality

  $794,973

  Educational

  $661,408

  Medical

  $684,155

  Retail

  $1,028,857

Location Insight

City

Seattle

County

King

State

Washington

Latitude

47.6171

Longitude

-122.307

CBSA code

42660

CBSA name

SEATTLE-TACOMA-BELLEVUE, WA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?

Please email our support team at [email protected] and they will add the team member.

How do I access a private listing?

Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.

How can I contact the broker?

We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.

How do I unsubscribe from emails?

At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].