2ND AVE NE NE 180TH ST

1ST AVE NE

LIGHT RAIL LIGHT Development Site Development 185TH STREET STREET 185TH MT. RAINIER

SEATTLE CBD LAKE

UNIVERSITY DISTRICT FREEMONT BALLARD

GREEN LAKE

LAKE CITY

185TH STREET SHORELINE Development Site OFFERING

Paragon Real Estate Advisors is pleased to exclusively offer for sale the 185th Street Light Rail Development Site. This 11,200 square foot lot is 160’ currently occupied by a beautiful 4 bed 1 ½ bath single-family residence with ample yard space and well-manicured landscaping. The lot is zoned MUR- 35 and a local architect has put together a site plan allowing nine, 2,000 square foot gross townhomes with 1 car garages. The close proximity to the proposed 185th Street Light Rail Station makes this location attractive for many future developments. The city of Shoreline has been experiencing job growth of 1.69% yearly with a projected 38% growth for the next ten years. The Light Rail Expansion is projected for completion in 2023 will bring with it economic development and 70’ rapid growth in population as businesses, jobs, and industries flock to the area.

NAME 185th Street Light Rail Development Site

ADDRESS 18016 1st Ave NE, , WA 98144

PARCEL 613910-0090

LOT SIZE 11,200 Square Feet

ZONING MUR-35

PRICE $900,000

PRICE PER FOOT $80.36

CURRENT USE Single Family Residence 185TH STREET PROPOSED USE Townhouse project with approximately 9 units LIGHT RAIL Development Site

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

„„ 11,200 square feet of MUR-35 zoned land „„ Close proximity to multiple parks

„„ Potential to build 9 townhouses „„ Retailers nearby include Costco, Home Depot and Lowe’s

„„ 5 blocks from Interstate 5 „„ 17 minutes to the Seattle CBD via future light rail line

„„ Quiet residential neighborhood „„ Close to the and its future light rail station LOCATION HIGHLIGHTS

„„ 11 miles to

„„ .5 miles to the proposed 185th Light Rail Station

„„ More than 400 acres of park land and open space offer a variety of enriching recreation and outdoor experiences POPULATION

„„ Shoreline farmers market is at Aurora Village, within walking distance from the 54,774 subject property

„„ Plentiful public transportation options make commuting into the downtown core quick and easy

„„ Aurora Village has a community renewal area designation, future vision similar to The University Village in North Seattle MEDIAN INCOME „„ Home to Jackson Park, a 106.7 acre public park and golf course $82,500 „„ 20th largest city in Washington State

„„ 8 miles to the University of Washington, 10 miles to Seattle Pacific University and 11 miles to Seattle University

„„ A short car ride from the prestigious Lakeside School

COMMUTE TO CBD 36 Minutes SHORELINE

Shoreline is Seattle’s closest neighbor to the North. In fact, the two are basically grown together with no physical or geographical barrier in between. For that reason, Shoreline is appealing for commuters and anyone who wants to claim “North Seattle” as their home. Shoreline boasts a unique history and character derived from original settlements dating back to the late 1800s. The quality that drew early settlers to the area remains dominant to this day: location. The City of Shoreline offers classic Puget Sound beauty and the convenience of suburban living with the attractions of nearby urban opportunities. From breathtaking views of Puget Sound to tennis, indoor swimming, to nature trails and beach access to skateboarding, Shoreline’s more than 400 acres of park land and open space offer a variety of enriching recreation and outdoor experiences. The city recently invested $18.5 million to improve its parks, which include saltwater shoreline, a botanical garden, an interurban trail and hiking trails, and newly improved athletic fields, courts and playgrounds. Shoreline shares its south border with Seattle and downtown Seattle is approximately 9 miles away. Public transportation is readily available and easy to access. Metro Transit, and all provide services to the surrounding communities and to the central business district. SOUND TRANSIT

The will Sound Transit anticipates the project connect the Northgate, Roosevelt starting construction in 2018 and and U District neighborhoods to opening for service in 2023 with daily downtown Seattle and the airport The projections estimating between elevated Northgate Station will be 63,000 and 74,000 riders each located east of 1st Ave NE, spanning weekday by the year 2035. With trains NE 103rd Street. Station entrances arriving every 4 to 5 minutes riders will be on the Northgate Mall property can expect a 16 minute commute from north of NE 103rd Street and near the the station at 145th and downtown Northgate Transit Center south of NE Seattle. These transit times will save 103rd Street. Construction is currently approximately 14 - 16 min during peak underway and this station is slated to morning commute times. open in 2021. The Sound Transit Light Rail Project will give riders a fast, frequent and reliable connection through some of the worst traffic congestion in Washington State. This extension builds four new light rail stations from Northgate to Lynnwood along the Interstate-5 corridor, two of which will be located in Shoreline, one at 148th Street and the other at 185th Street. These stations will provide access to the Northgate Mall, bus transfers at the transit center, adjacent park-and-ride facilities, North Seattle Community College and nearby homes and businesses.

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 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.

*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 AND INCOME

King County contains estimated 872,411 households. This number is TOP KING COUNTY FULLTIME forecast to increase to more than 912,000 by the year 2021. The county EMPLOYERS EMPLOYEES IN WA currently has 18 cities with populations greater than 20,000. The Boeing Co 81,919 Seattle is one of the most educated cities in the United States. Over 57 Microsoft Corp. 43,031 percent of Seattle’s adult residents have a Bachelor’s degree or higher, University of Washington 30,200 nearly twice the national average. An educated city means an educated Amazon.com Inc 24,700 workforce—a solid backbone for the innovative, knowledge-based 13,400 industries that drive Seattle’s economy. King County also boasts high Starbucks Corp educational attainment, with 47 percent of residents over 25 having Swedish Health Services 11,239 received a Bachelor’s degree or higher. City of Seattle 10,758 Roughly 28 percent of King County residents are in professional business/ Costco Wholesale Corp 10,080 managerial positions. As a result, median household income in King Nordstrom 9,264 County is well above the U.S. average. Cost of living is generally higher than Group Health Cooperative 8,982 the U.S. average, but it is in line with other metropolitan areas with similar income levels. MAJOR EMPLOYERS - CENTRAL BUSINESS DISTRICT MAJOR EMPLOYERS - SOUTH LAKE UNION SITE PLAN LAND COMPARABLES

185th Light Rail Dev Site 18016 1st Ave NE Seattle WA 98155 1ST AVE NE 2ND AVE NE Price $900,000 Price/Foot $80.36 Lot Size 11,200 Zoning MUR-35 Lot Dimensions 160’ x 70’ Existing Improvement SFR 1 Price $900,000 Price/Foot $83.43 1 3 Lot Size 10,788 4 NE 180TH ST Zoning MUR-45 Lot Dimensions 124’x 88’ 2 Existing Improvements SFR 18526 Densmore Ave N Units Planned 7 Townhomes Shoreline, WA 98133 Sales Date 04.26.2019 185TH STREET 2 Price $650,000 LIGHT RAIL Price/Foot $84.30 Development Site Lot Size 7,711 Zoning MUR-35 Lot Dimensions 60’ x 128’ Existing Improvements SFR 1024 NE 180th St Units Planned 6 Townhouses Shoreline, WA 98155 Sales Date 02.28.2019 3 Price $850,000 Price/Foot $94.00 Lot Size 9,009 Zoning MUR-45 Lot Dimensions 62’ x 142’ Existing Improvements SFR 2156 N 185th St Units Planned 7 Townhomes Shoreline, WA 98133 Sales Date 02.01.2019

4 Price $806,000 Price/Foot $92.00 Lot Size 8,760 Zoning MUR-45 Lot Dimensions 132’x 60’ Existing Improvement SFR 18515 Meridian Ave N Units Planned 7 Townhomes Shoreline, WA 98133 Sales Date 12.10.2018 185TH STREET LIGHT RAIL Development Site

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.