CENTRAL - LoopNet

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

 ................
................

In order to avoid copyright disputes, this page is only a partial summary.

Google Online Preview   Download