PRICE REDUCED: $2,100,000 HARBOR AVE SW REDEVELOPMENT OPPORTUNITY 2255 HARBOR AVE SW, SEATTLE WA 98126 // ALKI BEACH NEIGHBORHOOD Scott Clements David Butler 1218 Third Avenue www.orioncp.com P// 206.445.7664 P// 206.445.7665 Suite 2200 P// 206.734.4100
[email protected] [email protected] Seattle, WA 98101 Established in 2010 Untitled Map Legend Write a description for your map. TABLE OF CONTENTS // INVESTMENT SUMMARY PAGE// 3 // SITE OVERVIEW PAGE// 4 // MARKET OVERVIEW PAGE// 11 2 // 2255 HARBOR AVE SW - REDEVELOPMENT OPPORTUNITY N N ➤ 200 ft THE OFFERING ORION Commercial Partners is excited to offer for sale the Westbay Professional Building located at 2255 Harbor Ave SW, Seattle WA. This rare redevelopment opportunity is located along Harbor Ave SW, zoned C1-55 (M) with 14,375 square feet of dirt and has a preliminary site plan for 46 apartment units ranging from 338 SF to 417 SF. The site has views of the Puget Sound, the Seattle city skyline, and has easy access to multiple nearby parks, bike paths, Alki Beach, Salty’s Restaurant, and the West Seattle Water Taxi. INVESTMENT Priced at just over $45k/unit, this opportunity will not last long! 2255 HARBOR AVE SW, Address SEATTLE, WA 98126 SUMMARY Offering Price $2,100,000 Proposed # of 46 (23 PARKING & 50 BIKE STALLS) Residential Units Avg. Price/Unit $45,652 Range of New 338 SF - 417 SF Residential Units Proposed Price/SF Proposed 32,250 $65.10 Building SF Building Total Land Area 14,375 SF Price Per Square $146.10 Foot Land Zoning C1-55(M) Parcel 927520-0270 Year Built 1967 3 // 2255 HARBOR AVE SW - REDEVELOPMENT OPPORTUNITY SITE OVERVIEW CURRENT STRUCTURE: Westbay Professional Building is a 2-story office/retail building with ±125 ft frontage on Harbor Ave SW.