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Columbia City Development Site SEATTLE CBD JUDKINS PARK Columbia City Development Site SEATTLE CBD JUDKINS PARK MOUNT BAKER BEACON HILL COLUMBIA CITY STATION Columbia City Development Site SEWARD PARK SOUTH BEACON HILL OFFERING Paragon Real Estate Advisors is proud to exclusively offer for sale the Columbia City Development Site. The offering consists of two parking lots and a vacant lot for a combined lot size of 13,588 square feet. The two street side parcels are both zoned LR3 and make up 10,213 square feet while the lot adjoining the southern LR3 parcel is zoned SF 5000 and is 3,375 square feet. The site is just one block off the main strip of Rainier Ave South and a couple blocks from Downtown Columbia City. The property presents an opportunity to benefit from an area that has begun to see an increasing amount of capital investments in the changing geographical area. NAME Columbia City Development Site ADDRESS 4730 38th Ave S, Seattle WA 98118 PARCEL NUMBERS 392990-0090 392990-0095 392990-0101 TOTAL LOT SIZE 13,588 Square Feet ZONING LR3 / SF5000 PRICE $1,799,950 PRICE PER FOOT $132.47 TERMS Cash Out 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. INVESTMENT HIGHLIGHTS Two blocks from the core of Columbia City Two adjoining LR3 properties totaling 10,213 square feet One 3,375 square foot SF 5000 lot adjoining the Southern LR3 lot All three lots are listed together but may be sold separately (LR3 lots sold together, SF 5000 sold separately) Flat, vacant and easily buildable lots Four miles to the Seattle CBD Four blocks from the Captitol Hill Light Rail Station Developing area Abundance of amenities nearby Columbia City Development possibility of 10-14 townhouses Development or 30-55 SEDU/Apartment units Site COLUMBIA CITY Columbia City has the highest Walk Score of any neighborhood south of downtown, including the ever-popular “Junction” in West Seattle. There’s a lot to do here, and it’s all concentrated in one area. The people here love to support the local businesses. Today, the thriving pedestrian business district along Rainier Avenue South is home to six bars, a grocery store, a number of restaurants, bakeries, coffee shops, assorted retail, an art gallery, fitness facilities, a fraternal clubhouse, a movie theater, and multiple live music venues. With the neighborhoods mix of craftsman bungalows, market rate and low- income apartment buildings, and townhouse developments, this area is quickly becoming a popular neighborhood for those looking for an urban environment without the high prices of the downtown area. Community estimates have put the number of new homes in the planning pipeline as numbering at least 1,500. Many of these developments are in formerly vacant lots similar to the subject. Train service at the neighborhood’s Link Light Rail station began in July 2009. The station is situated between the Othello and Mount Baker stations on the Central Link line, which runs from Seattle–Tacoma International Airport to Downtown Seattle and the University of Washington as part of the Link light rail system. The station consists of two at-grade side platforms between South Alaska Street and South Edmunds Street in the median of Martin Luther King Jr. Way South in the Columbia City neighborhood, part of Seattle’s Rainier Valley. Trains serve the station twenty hours a day on most days; the headway between trains is six minutes during peak periods, with less frequent service at other times. Columbia City station is also served by two King County Metro bus routes that connect it to Mount Baker, Renton and West Seattle. AMENITIES MAP 3 4 6 FOOD & DRINK SERVICES & PARKS 9 4 1. Ezell’s Famous Chicken 1. Hitt’s Hill Park 10 1 2. Domino’s Pizza 2. Columbia City Library 3. Lil Red Takeout & Catering 3. Orca K-8 School 2 Columbia City 4. Pho Bo 4. Hawthorne Elementary 9 Development 5 11 Site 5. Starbucks 5. Rainier Playfield 6. Tin Umbrella Coffe 6. Genesse Playfields 10 17 7. Full Tilt Columbia City 7. Columbia Park 4 8. Empire Espresso 8. Brighton Playfield 2 12 10 20 9. Bananas Grill 9. Dearborn Park 1 10. Chandala Thai 10. Columbia City Station 7 3 8 11 11. El Sombrero 11. Rainier Community Center 2 11 12. Big Chickie 12. Sunnyside Montessori 13. Kezira Cafe 13. Kaiser Permanente 15 21 14. Emma’s BBQ 16 6 22 15. Columbia City Bakery 16. Island Soul 18 13 SHOPPING 7 17. Starbucks 23 18. Spice Room 1. PCC Community Market 13 3 19. Super Six 2. Farmers Market 19 1 20. Lottie’s Lounge 3. Washington Federal 8 21. Tutta Bella 4. Walgreens 5. Rocket CrossFit 14 22. Royal Room 9 7 23. Bua 9 Thai Cuisine 6. Bike Works Seattle 12 7. Maka Mini 6 8. Green Choice Gardens 9. T-Mobile 10. Lucky Devil Tattoo 5 11. Columbia City Theater 8 MAJOR EMPLOYERS - CENTRAL BUSINESS DISTRICT MAJOR EMPLOYERS - SOUTH LAKE UNION 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. LOT DIMENSIONS 126 FEET 392990-0090 5,080 SQ.FT. LR3 75 FEET 80 FEET 392990-0095 392990-0101 45 FEET 5,133 SQ.FT. 3,375 SQ.FT. LR3 SF5000 193 FEET SALES COMPARABLES Columbia City Dev Site 4730 38th Ave S Seattle, WA 98118 Lot Size 13,588 Sq.Ft. Zoning LR3/SF5000 Sales Price $1,799,950 Price/Foot $132.47 Sales Date TBD Columbia City Development Site 1 1 Pearl Street Dev Site 3940 S Pearl St Seattle, WA 98118 Lot Size 15,681 Sq.Ft. Zoning LR3 3 Sales Price $3,100,000 Price/Foot $197.69 Sales Date 9.18.2018 2 2 South Park Dev Site 6700 Carleton Ave S Seattle, WA 98108 Lot Size 6,098 Sq.Ft. Zoning L2 Sales Price $925,000 Price/Foot $151.69 Sales Date 6.25.2018 3 Rainier Ave Dev Site 6111 Rainier Ave S Seattle, WA 98118 Lot Size 3,920 Sq.Ft. Zoning LR3 Sales Price $695,000 Price/Foot $177.30 Sales Date 12.8.2017 600 University St, Suite 2018 Seattle Washington 98101 206 623-8880 / [email protected] www.ParagonREA.com 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..
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