170 Mercer StSeattle, WA 98109

Property Details for 170 Mercer St

Year built

1951

Construction

WOOD

Lot size

0.35 AC

Property size (Sq ft)

8,036 SF

Zone code

SM-UP 85 (M1)

Property type

Office properties

Property subtype

Office buildings

APN

545730-0560

APU

5457300560

Description

This exceptional 15,360 sq ft development site at 170 Mercer St, Seattle, WA 98109, offers unparalleled potential. Zoned SM-UP 85 (M1), it allows for mixed-use development, including residential, commercial, or hospitality uses. Its strategic location adjacent to Seattle Center and Climate Pledge Arena, with easy I-5 access, ensures high visibility and foot traffic. The corner lot at Mercer Street and 2nd Avenue North provides maximum exposure. Development benefits from streamlined design review for certain projects through 2027, expediting the permitting process. Currently generating income from a 32-stall parking lot, this property presents a unique opportunity to capitalize on Seattle's thriving Uptown neighborhood and strong demand for both residential and commercial space. The asking price is $6,395,000. Ownership is held by 170 Mercer LLC. This is a rare chance to acquire a premier property in one of Seattle's most desirable areas.

• CAP approach

  CAP return

  Valuation

  6%

  $2,174,561

  6.5%

  $2,007,287

  7%

  $1,863,910

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,154,966

  Geo Method

  $1,547,573

• Alternative Use

  Use

  Valuation

  Residential

  $2,489,036

  Hospitality

  $2,279,944

  Educational

  $1,896,887

  Medical

  $1,962,124

  Retail

  $2,950,712

Location Insight

City

Seattle

County

King

State

Washington

Latitude

47.6249

Longitude

-122.353

CBSA code

42660

CBSA name

SEATTLE-TACOMA-BELLEVUE, WA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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