520 Pike StSeattle, WA 98101

Property Details for 520 Pike St

Year built

1983

Construction

STEEL FRAME

Lot size

0.30 AC

Property size (Sq ft)

500,000 SF

Zone code

DRC 85-170

Property type

Office buildings

APN

197570-0160

APU

1975700160

Description

This exceptional Class A retail property, located at 520 Pike Street in Seattle's vibrant Downtown core, offers 17,537 square feet of ground floor space. Situated on a 0.3-acre lot at the prominent corner of Pike Street and 6th Avenue, this location boasts unparalleled visibility and accessibility. Built in 1984 and renovated in 2000, the building features a total of 374,225 square feet across 29 stories. The property's zoning is DRC-85-170, and it's situated within King County's Downtown Seattle submarket, specifically the Seattle CBD cluster. Its strategic location places it directly across from the Sheraton Grand Hotel, one block from the Convention Center, and surrounded by high-end retailers including Nordstrom, Chanel, Rolex, and Ben Bridge Jeweler. The building's upper floors maintain an 81% occupancy rate, housing a diverse tenant base spanning technology, insurance, law, finance, consulting, and construction. The landlord is receptive to short-term pop-up shop arrangements, particularly for the upcoming holiday season. This presents a unique opportunity for a retailer to establish a presence in one of Seattle's most coveted retail destinations. The property offers multiple tenancy options within a thriving commercial environment.

• CAP approach

  CAP return

  Valuation

  6%

  $135,301,232

  6.5%

  $124,893,440

  7%

  $115,972,480

• Comparable approach

  Method

  Valuation

  Relative Method

  $134,081,976

  Geo Method

  $96,290,000

• Alternative Use

  Use

  Valuation

  Residential

  $154,867,872

  Hospitality

  $141,858,128

  Educational

  $118,024,304

  Medical

  $122,083,344

  Retail

  $183,593,360

Location Insight

City

Seattle

County

King

State

Washington

Latitude

47.6112

Longitude

-122.335

CBSA code

42660

CBSA name

SEATTLE-TACOMA-BELLEVUE, WA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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