2002 Union StSeattle, WA 98122

Property Details for 2002 Union St

Year built

1908

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.10 AC

Property size (Sq ft)

7,320 SF

Zone code

NC2P-40 (M)

Property type

Mixed-use properties

Property subtype

Other investment properties

APN

722850-1740

APU

7228501740

Description

This exceptional 800 square foot creative office space is ideally situated on East Union Street in Seattle's vibrant Capitol Hill neighborhood, bordering the Central District. Boasting 13-foot ceilings and an open floor plan, this single-tenant space offers ample natural light from its south-facing street wall of windows. Conveniently located in a pedestrian, transit, and vehicle-friendly area, it benefits from a Walkscore of 94, Transit score of 69, and Bike score of 92. The surrounding area is bustling with activity, featuring nearby retail establishments such as Katy's Cafe, Central Cinema, and PCC. The property is also easily accessible with a back entrance for loading and free street parking. Two shared restrooms are located outside the unit. This prime location is surrounded by apartments, homes, and other retail businesses, catering to a desirable demographic with an average household income of $101,127 within a population of 46,916. The monthly rent is $2,600, with an additional $430 for NNN expenses. This space is perfect for a variety of businesses seeking a dynamic and convenient location in a thriving Seattle neighborhood.

• CAP approach

  CAP return

  Valuation

  6%

  $1,980,810

  6.5%

  $1,828,440

  7%

  $1,697,837

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,962,960

  Geo Method

  $1,409,686

• Alternative Use

  Use

  Valuation

  Residential

  $2,267,266

  Hospitality

  $2,076,803

  Educational

  $1,727,876

  Medical

  $1,787,300

  Retail

  $2,687,807

Location Insight

City

Seattle

County

King

State

Washington

Latitude

47.6131

Longitude

-122.306

CBSA code

42660

CBSA name

SEATTLE-TACOMA-BELLEVUE, WA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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