PDF CENTRAL

CENTRAL

AGENCY BUILDING

ELLIOTT BAY

BELLTOWN

SEATTLE CBD

FIRST HILL

QUEEN ANNE

SOUTH LAKE UNION

CENTRAL

AGENCY BUILDING

CAPITOL HILL

OFFERING

Paragon Real Estate Advisors and Cannon Commercial is pleased to exclusively offer for sale the Central Agency Building located in the highly desirable Capitol Hill neighborhood. The investment offers a rare opportunity to purchase a trophy building which will adjust to a 5.5% cap rate at the beginning of 2023 when all leases adjust to market rates. The Central Agency Building has experienced substantial capital improvements including the replacement of the electrical system, HVAC system, sewer line system, sprinkler system, fire alarm system and roof with a 20-year warranty. After the substantial upgrades and improvements to the property, the Central Agency Building tenants now include some of Seattle's finest restaurants, distilleries and businesses including Lark Restaurant, the Heritage Distillery and Pilot Labs.

The Central Agency Building offers investor the opportunity to acquire a pride of ownership building in an A+ Seattle neighborhood less than a mile from the downtown Seattle core.

NAME ADDRESS TOTAL SPACES BUILT SQUARE FEET PRICE PRICE PER FOOT CURRENT GRM/CAP ANNUAL GROSS INCOME 2023 MARKET GRM/CAP LOT INFORMATION

Central Agency Building 952 E Seneca St, Seattle WA 98122 4 1917/2010 19,572 Total Net Rentable $12,995,000 $663.96 20.9/3.8% $619,860 14.4/5.5% 7,358 Square Feet Zoned NC3P-65

This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify all information and bears all risk for inaccuracies.

IMPROVEMENTS

Full Seismic Retrofit has been completed Full energy code upgrade ? Replaced all windows, skylights, and doors

with energy efficient, insulated products. Full roof replacement ? New plywood sheeting and insulation with a new

TPO roof with a 20-year warranty Brand new electrical systems - Built a vault in the sidewalk across the

street and ran new electrical and communications under street to the building. All new panels, wiring and submetering. New HVAC systems installed for common areas and tenants. New water supply from the buildings side of the meter. New sewer and rain drains out to the main sewer system tie-in. New sprinkler system throughout the building. New three-meter gas manifold and piping. New monitored fire alarm system. New exterior paint

1937 2019

LOCATION HIGHLIGHTS

Half mile to the downtown CBD One mile to South Lake Union A block West of Broadway 50-yard line location in the heart of Capitol Hill A block North of Madison street Half mile to the Capitol Hill Light rail station Three miles to the University of Washington Across the street from Seattle University Two blocks South of E. Pike street Large 7,358 square foot lot zoned NC3P-75 (M) Quick access to I-5, 520 and I-90 Three blocks from Cal Anderson Park ? 7 Acre park with water features, large lawn

area, footpaths, a play area, an athletic field and oversized chess boards Located on several Sound Transit's Bus routes, offering frequent service to Downtown,

Pike Place Market and South Lake Union.

WALK SCORE

99

TRANSIT SCORE

92

BIKE SCORE

91

AMENITIES MAP

59

6

12 24

1

2

2 13 14

8 1

4

7

2 23

3 11 21

4 10

5 1

6 3

15 17

9

16

4 11

8 12

18

E Madison St

25 19

Pine St20 6 22

10

9

57

3 10

8

26

7

E Cherry St

CENTRAL

AGENCY BUILDING

FOOD & DRINK

1. Starbucks Reserve Roastery 2. Mamnoon 3. Terra Plata 4. Taylor Shellfish Oyster Bar 5. Sitka and Spruce 6. Lil' Woody's 7. Foreign National 8. Stateside 9. McMenamins Six Arms 10. Rumba 11. Tango Restaurant & Lounge 12. Trove 13. East Trading Company 14. The Belmont Lounge 15. Kaladi Brothers Coffee 16. Salt & Straw 17. Ayutthaya Thai 18. Marination Station 19. Chop Suey 20. Yard House 21. The Cheesecake Factory 22. Palomino 23. Ruth's Chris Steak House 24. Dick's Drive-In 25. Barrio Mexican Kitchen

& Bar 26. Rhein Haus

SERVICES 1. Cal Anderson Park 2. Rival Fitness 3. CrossFit Amped 4. Westlake Park 5. Virginia Mason Hospital 6. Kaiser Permanente Capitol Hill Campus 7. Seattle University 8. Seattle Central College 9. Capitol Hill Light Rail Station 10. Swedish Hospital 11. AT&T Store 12. Chase Bank

SHOPPING

1. Walgreens 2. Pike Grocery 3. Whole Food Market 4. QFC 5. Rite Aid 6. Banana Republic 7. Urban Outfitters 8. Bartell Drugs 9. Amazon Go 10. Pike Place Market

WHY CHOOSE SEATTLE - KING COUNTY?

A HIGHLY-SKILLED WORKFORCE

The region's highly skilled and educated workforce provides a deep talent pool, with 47 percent of adults holding a bachelor's degree or higher. Top-tier talent is one of the key reasons out-of-state companies, such as Google, Facebook, Apple, Dropbox, Twitter, Alibaba, and SpaceX, are attracted to opening strategic locations in Seattle-King County.

ESTABLISHED INDUSTRY CLUSTERS

The success of the clusters has contributed to innovation for emerging industry segments such as biomedical devices, interactive media, e-commerce, clean energy, and space exploration. Small and medium-sized businesses provide a vital contribution to the cluster ecosystem, and in turn benefit from the collaborative climate for which the Seattle-King County region is known

CUTTING-EDGE RESEARCH

Top-ranked research institutions, including the world-renowned University of Washington, contribute to a high-caliber talent pipeline and encourage record levels of research & development spending from the private, non-profit and public sectors. The region has always fostered the next generation of business, from early-stage startups to high-growth companies with long-term success.

*Data Sources: Washington State Employment Security Department, 2015; Washington State Department of Revenue, 2015; Washington Military Alliance; Washington Aerospace Economic Impacts 2016 Update; US International Trade Administration, 2014.

POPULATION, EDUCATION, INCOME

King County contains estimated 872,411 households. This number is forecast to increase to more than 912,000 by the year 2021. The county currently has 18 cities with populations greater than 20,000.

Seattle is one of the most educated cities in the United States. Over 57 percent of Seattle's adult residents have a Bachelor's degree or higher, nearly twice the national average. An educated city means an educated workforce--a solid backbone for the innovative, knowledge-based industries that drive Seattle's economy. King County also boasts high educational attainment, with 47 percent of residents over 25 having received a Bachelor's degree or higher.

Roughly 28 percent of King County residents are in professional business/managerial positions. As a result, median household income in King County is well above the U.S. average. Cost of living is generally higher than the U.S. average, but it is in line with other metropolitan areas with similar income levels.

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