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For Sale: $9,800,000 Elliott Ave W Development Site 901 & 921 Elliott Ave W, Seattle, Wa 98119

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For Sale: $9,800,000 Elliott Ave W Development Site 901 & 921 Elliott Ave W, Seattle, Wa 98119 FOR SALE: $9,800,000 ELLIOTT AVE W DEVELOPMENT SITE 901 & 921 ELLIOTT AVE W, SEATTLE, WA 98119 SEATTLE CBD ELLIOTT BAY ELLIOTT BAY TRAIL COMMUTE TO SEATTLE CBD VIA ELLIOTT AVE W APPROX. 7 MINUTES (2.4 MILES) W MERCER PL COMMUTE TO SEATTLE CENTER VIA W MERCER PLACE APPROX. 3 MINUTES (1 MILE) SUBJECT SITE: 901 & 921 ELLIOTT AVE W KINNEAR PARK ELLIOTT AVE W // VPD 55,000+ DAN FOSTER 1218 Third Avenue www.orioncp.com P // 206.445.7662 Suite 2200 P// 206.734.4100 [email protected] Seattle, WA 98101 Established in 2010 LAKE WASHINGTON STADIUM SURROUNDINGS CAPITOL HILL SEATTLE CBD 7 MINUTES ELLIOTT BAY SEATTLE CENTER LAKE UNION SOUTH LAKE 3 MINUTES UNION 6 MINUTES LOWER QUEEN TABLE OF ANNE SUBJECT SITE CONTENTS ELLIOTT AVE W QUEEN ANNE INTERBAY PROPOSED SMITH COVE STATION PAGE // INVESTMENT SUMMARY ......................................................................................................... 3 // SITE OVERVIEW ................................................................................................................................4 - ZONING INFORMATION ..................................................................................................................................................... 6 // MARKET OVERVIEW .................................................................................................................... 7 - LIGHT RAIL EXPANSION .................................................................................................................................................. 10 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, age, and numbers are approximate. Parties must verify the information and bears 2 // 901 & 921 ELLIOTT AVE W DEVELOPMENT SITE all risk for any inaccuracies. THE OFFERING ORION Commercial Partners is pleased to offer for sale the land and buildings at 901 & 921 Elliott Ave W, in Seattle, Washington’s Interbay neighborhood. Located on the highly trafficked Elliott Avenue West corridor which connects Ballard, Queen Anne, and Magnolia to Seattle’s CBD and zoned industrial commercial (IC) the subject site offers an excellent range of development opportunities. Seattle’s population boom can be attributed to the fact that several of the world’s leading technology employers including Amazon, Apple, Facebook, and Google are here along with INVESTMENT Expedia’s 40-acre headquarters and F5 Networks located in close proximity to the subject site. With views of Elliott Bay, easy access to Seattle’s Central Business District, and situated amidst enormous job growth, even with its robust bus system, Sound Transit is also expanding its service to accommodate the influx of employees and residents to the area. Sound Transit’s new Smith SUMMARY Cove Link Light Rail station will be within walking distance from the subject site and will further provide reliable service/connection to downtown Seattle (see pages 9-12). 901 & 921 ELLIOTT AVE W, Address SEATTLE, WA 98119 Offering Price $9,800,000 901: 16,988 SF Land Area 921: 27,878 SF TOTAL: 44,866 SF Price Per Square $218.43 Foot Land 901: 19,275 SF // BUILT: 1924 Building Area 921: 10,800 SF // BUILT: 1927 TOTAL: 30,075 SF Price Per Square $325.85 Foot Building IC-65 (M) - NEW ZONING Zoning (see page 6 for zoning information) Parcel 387990-2235 // 766620-1980 3 // 901 & 921 ELLIOTT AVE W DEVELOPMENT SITE KINNEAR PARK • 14 Acre park with landmark status • Off leash park, tennis courts, kids play area SUBJECT SITE W MERCER PL SITE OVERVIEW ELLIOTT AVE W CURRENT STRUCTURES There are four structures at 901 & 921 Elliott Ave W (parcels: 387990-2235 // 766620-1980), which combine for 30,075 SF of commercial use buildings. The site is mostly level and consists of a 44,866 SF rectangular lot. Currently vacant, former uses include a leather care business, a production/staging company, and warehouse/storage. The site is connected to Guardian Security Company 24/7 and is equipped with cameras and motion detectors. IC65 (M) - INDUSTRIAL COMMERCIAL (IC) 65 (M) LAND USE The intent of the Industrial Commercial zone is to promote the development of businesses that incorporate a mix of industrial and commercial activities, including light manufacturing and research and development, while accommodating a wide range of other employment activities (ie: office, brewery, restaurant, etc). Buyer to verify all uses. (see page 6). STRATEGIC LOCATION Once known for its railroad and manufacturing roots, Seattle’s highly trafficked Elliott Corridor runs along the waterfront and connects the Interbay neighborhood to downtown Seattle. Positioned right on Elliott Ave W, the subject site offers excellent access to any future development as well as exceptional visibility to the 55,000+ daily commuters that the Elliott Corridor now brings. Sound Transit Ballard expansion - International District to Ballard Line - will further provide reliable service/connection to downtown Seattle, the University of Washington, Sea-Tac Airport, and many more destinations around the region (see pages 10-12). 4 // 901 & 921 ELLIOTT AVE W DEVELOPMENT SITE SITE OVERVIEW SITE PHOTOS 921 ELLIOTT AVE W 10,800 SF BUILDING 27, 878 SF LAND PARCEL: 766620-1980 921 ELLIOTT AVE W 901 & 920 ELLIOTT AVE W: 44,866 SF LAND 901 ELLIOTT AVE W 19,275 SF BUILDING 16,988 SF LAND PARCEL: 387990-2235 901 ELLIOTT AVE W 5 // 901 & 921 ELLIOTT AVE W DEVELOPMENT SITE SITE OVERVIEW ZONING INFORMATION INDUSTRIAL COMMERCIAL (IC) 65 (M) LAND USE NE 145TH ST E Bitter N V N W Lake A N V H A V Seattle’s Industrial Commercial zone allowing for a broad use of industrial and office uses. Previously limited T A A 5 R 1 D N 130TH ST O R 3 R U A Haller City of to a height of 45 feet, the city of Seattle has up-zoned the Interbay neighborhood now permitting a height Lake NE 125TH ST E N N S A V Y N A W D D Y P O T I O O C I N W E T N K W E A L E Y of 65 feet allowing for taller, more dense buildings. As the downtown Seattle CBD core continues to expand R N G E Seattle NE NORTHGATE WY outwards -in response to the economic growth of the past decade- neighboring submarkets are absorbing NW 105TH ST Generalized 5 d E T E A N W T N S D Y R R W E N T A T W M L much of the demand and influx of population. As a result, land values are rising rapidly, rendering older N L NE 95TH N S I T E Zoning O H V V A E n E S H N O T 4 O V 2 A R as of May 16, 2019 H T NW 85TH ST 5 E buildings obsolete and developers acquiring sites that support future development. This is evidenced by the N V A u H T NW 80TH ST 5 3 W adjacent Expedia campus as well as the approximate 60 other completed, under construction, or planned for N W o V W NE 75TH Legend N ST A N V W V A E A I H V H A T T 5 E E 8 1 S N V S Green A N Downtown E future development projects within a one-mile radius of the subject site. Y H N T N 65TH ST W 5 V E 2 A Lake NE 65TH ST K W A H L T N N 2 V E 1 E A R Commercial/Mixed Use D G N E 2 3 N NW V MARKET ST A A R Multi-Family O R U A NE 50TH ST N Single Family W L E A NE 45TH ST R VEHICLE PARKING WITHIN IC’65 (M) ZONE Y W Y E E N Manufacturing/Industrial N N EM V N V V E A W R W B A S V O H N A E E T W EMERSON ST I C 2 K IC — 65’ M N N PL D K 1 A O E R L R N T S 36 O T T S H F T O S N Master Planned Community N T S N S G E O T SUBJECT SITE C N P I M I Office 1 space for each 2,000 SF W A F L C I I Y L F C IC A A W P S W T T W DRAVUS ST N N O Major Institutions M W E I V W ROUT TATE E 520 T S V W S A E Industrial 1 space for each 1,000 SF V M H A W A T W E G 4 H N 3 V V O T A A 8 D L B W W O 2 E I E A E K Y V W V MC GRAW S X E B T K Y R A V A T A D A W E L V H N H R T E T T BOSTON ST MANDATORY R S 0 O 5 A 1 1 A INDUSTRIAL MAXIMUM H V W E T N E S T L Caretaker’s Quarters 1 space for each dwelling unit L A A K HOUSING K MAGNOLIA BRIDGE E N E Lake W COMMERCIAL HEIGHT V A A V A N E E E S N V L N Union H L V A I N I O A N A N AFFORDABILITY T R T V H G O N A T T A L E E 4 V O Y W 2 E W E V N A I U A T V B Q R Restaurants 1 space for each 250 SF I H V A F T E ALOHA ST E 0 1 n MERCER ST E V N N A V V T H A A S T o T D 5 H S A 1 T E JOHN ST 1 O R 9 1 space for each 8 fixed seats, B DENNY WY 6 2 T t N H Y D A A A 4 V W T V V V H A D A A A A L V D A H O R IC’65 (M) ZONING USES AND INFORMATION S T T 3 K R S 9 A 2 N B N 1 T O E UNION ST g Entertainment* or 1 space for each 100 SF of W S IS Y NE AD PI M E ST N IO UN E CHERRY ST S B n T Y S O N IO R W R E Office P R A N public assembly J M T S A IA V G B i M N T I LU S CO ES K M L JA YESLER WAY M S JACKSON ST h Industrial P Food Processing 1 space for each 2,000 SF Elliott Bay S DEARBORN ST s S V A a H INTERSTATE 90 Caretaker’s Quarters P H T A 4 R B O R A V S H S OLGATE ST W S W V A T SW SW ADMIRAL WY S Restaurants P AV 1 I BICYCLE PARKING WITHIN IC’65 (M) ZONE LK A S LANDER ST S e Y S MC CLELLAN ST W T R S O k V P A R I D A R 3 R USE LONG-TERM SHORT-TERM 2 A a S SPOKANE ST I Entertainment (*Theater, Sports facilities) P SW CHARLE N STOWN ST IE R A V S W L M SW A GENESEE ST R G S S I Y M 1 per 10,000 N V A W A L B S S GENESEE ST L L FAR within IC’65 (M) Zone 2.75 E T K Note: This map is a view of generalized zoning only.
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