323 Nickerson StSeattle, WA 98119

Property Details for 323 Nickerson St

Year built

1960

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.10 AC

Property size (Sq ft)

3,000 SF

Zone code

MIO-50-NC2-40

Property type

Office buildings

APN

744300-0300

APU

7443000300

Description

This 3,000 square foot free-standing creative office building, located at 323 W. Nickerson St., Seattle, WA 98119, presents a unique opportunity. Built in 1960 and renovated in 2011, the single-story structure is situated in the North Queen Anne/Fremont submarket, directly adjacent to Seattle Pacific University. The property's MIO-50-NC2-55 (M) zoning allows for a variety of uses. Its convenient location offers easy access to major roads and downtown Seattle, catering to a diverse clientele including students, young professionals, families, and long-term residents. The building features dedicated retail parking, a significant advantage in this vibrant area. This second-generation retail space is ideal for businesses seeking a well-established location with strong visibility and convenient access. The property's single-tenancy setup provides flexibility and control. The APN is 744300-0300. The cross street is 3rd Avenue West. This is a rare opportunity to secure a well-positioned commercial property in a thriving Seattle neighborhood.

• CAP approach

  CAP return

  Valuation

  6%

  $920,048

  6.5%

  $849,275

  7%

  $788,613

• Comparable approach

  Method

  Valuation

  Relative Method

  $804,492

  Geo Method

  $577,740

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $1,618,130

  Retail / Commercial

  $840,320

  Mixed-Use / Specialty

  $845,639

  Hospitality / Lodging

  $631,244

  Institutional / Educational

  $882,095

  Residential Income

  $1,032,050

  Multifamily

  $1,191,690

  Automotive / Energy

  $756,082

  Parking / Income-Based Land

  $252,700

  Restaurant / Food Service

  $457,568

  Healthcare / Senior Housing

  $858,660

Location Insight

City

Seattle

County

King

State

Washington

Latitude

47.6508

Longitude

-122.362

CBSA code

42660

CBSA name

SEATTLE-TACOMA-BELLEVUE, WA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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