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Greenwood Development RETAIL CORE GREENWOOD NORTHGATE GREENWOOD AVE N N 85TH ST GREENWOOD DEVELOPMENT BALLARD GREENWOOD UNIVERSITY DEVELOPMENT DISTRICT MAGNOLIA DAYTON AVE N QUEEN ANNE N 83RD ST CAPITOL HILL ELLIOTT BAY SEATTLE CBD GREENWOOD DEVELOPMENT KIDDER.COM OFFERING MEMORANDUM | 425 N 85TH ST | SEATTLE, WA EASTLAKE QUEEN ANNE MAGNOLIA FREMONT WALLINGFORD GREENWOOD AVE N N 65TH ST GREEN LAKE GREEN LAKE WINONA AVE N GREEN LAKE DR N N 80TH ST N 85TH ST GREENWOOD DEVELOPMENT 01 TABLE OF INVESTMENT SUMMARY CONTENTS 02 SAMPLE MASSING 03 EXCLUSIVELY LISTED BY LOCATION OVERVIEW JASON ROSAUER ROB ANDERSON DYLAN SIMON 206.296.9608 206.296.9644 206.414.8575 04 [email protected] [email protected] [email protected] COMPARABLES JERRID ANDERSON MATT LAIRD 206.499.8191 206.624.7416 [email protected] [email protected] KIDDER.COM The information contained in the following Marketing Brochure is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from Kidder Mathews and should not be made available to any other person or entity without the written consent of Kidder Mathews. This Marketing Brochure has been prepared to provide summary, unverified information to prospective purchasers, and to establish only a preliminary level of interest in the subject property. The information contained herein is not a substitute for a thorough due diligence investigation. Kidder Mathews has not made any investigation, and makes no warranty or representation, with respect to the income or expenses for the subject property, the future projected financial performance of the property, the size and square footage of the property and improvements, the presence or absence of contaminating substances, PCB’s or asbestos, the compliance with State and Federal regulations, the physical condition of the improvements thereon, or the financial condition or business prospects of any tenant, or any tenant’s plans or intentions to continue its occupancy of the subject property. The information contained in this Marketing Brochure has been obtained from sources we believe to be reliable; however, Kidder Mathews has not verified, and will not verify, any of the information contained herein, nor has Kidder Mathews conducted any investigation regarding these matters and makes no warranty or representation whatsoever regarding the accuracy or completeness of the information provided. All potential buyers must take appropriate measures to verify all of the information set forth herein. This information has been secured from sources we believe to be reliable. We make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Recipient of this report must verify the information and bears all risk for any inaccuracies. 01 INVESTMENT SUMMARY DEVELOPMENT LAND OFFERING MEMORANDUM KIDDER MATHEWS 5 GREENWOOD N 85TH ST GREENWOOD DEVELOPMENT MAPLE LEAF GREEN LAKE DR N N 80TH ST GREENWOOD AVE N AVE GREENWOOD GREEN LAKE WINONA AVE N PHINNEY RIDGE GREEN LAKE 6 KIDDER MATHEWS OFFERING MEMORANDUM DEVELOPMENT LAND N 65TH ST INVESTMENT HIGHLIGHTS LOCATION, LOCATION, LOCATION: 425 N 85th Street’s central Greenwood location is within an easy 5 minute walk of some of the City’s best restaurants and bars, arts & culture attractions, and practical amenities such as major grocers and services RISING RENTAL MARKET: On the fringe of Seattle’s most sought-after neighborhoods, 425 N 85th Street will benefit from continued rent growth pushing from Green Lake, Fremont/ Wallingford, and Ballard REVITALIZATION: Greenwood is poised INVESTMENT for exponential growth as developers flee from over-built and hyper-expensive neighborhoods, capitalizing on the recent upzone and historic neighborhood SUMMARY character THE OFFERING 425 N 85th Street Development Site is superbly located in the heart of PROPERTY OVERVIEW Greenwood. For future residents Pricing $3,500,000 seeking great and walkable amenities, easy access to Seattle’s Address 425 N 85th Street, Seattle, WA top employers, and a true urban- PHINNEY AVE N neighborhood feel, 425 N 85th N 85TH ST Parcel 643050-0342 Street Development is the clear Total Site Area 12,240 SF choice. Zoning NC2-55(M) Whether 425 N 85th Street GREENWOOD breaks ground as market-rate or DEVELOPMENT Offering Development Site efficiency units, this ideal investment opportunity will benefit from Proposed Unit Count 64 Market Rate (see pg 12 for more info) skyrocketing rents and the increased reinvestment and redevelopment in Additional information can be found at GreenwoodOffering.com Greenwood. DEVELOPMENT LAND OFFERING MEMORANDUM KIDDER MATHEWS 7 N 85TH ST 425 N 85TH ST 643050-0342 12,240 SF NC2-55(M) GREENWOOD AVE N DAYTON AVE DAYTON N GREENWOOD DEVELOPMENT N 84TH ST 8 KIDDER MATHEWS OFFERING MEMORANDUM DEVELOPMENT LAND EXISTING BUILDING SUMMARY Building Address 425 N 85th Street, Seattle, WA Use Single Tenant Office Tenant Encore Publishing, Inc. Building SF 4,268 SF Lease Start 12/20/2002 Lease End Ongoing Current Rent $9,000 Current Rent/SF $25.30 Tenant Expense Responsibilities Utilities, Real Estate Taxes, Insurance, Repairs & Maintenance Encore Media Group is aware of the potential sale and redevelopment of the property and are willing to work with the prospective buyer throughout the sale process. DEVELOPMENT LAND OFFERING MEMORANDUM KIDDER MATHEWS 9 02 SAMPLE MASSING DEVELOPMENT LAND OFFERING MEMORANDUM KIDDER MATHEWS 11 SAMPLE MASSING MASSING DETAILS 5 residential stories + ground- Building Programming floor retail + below grade parking N 85TH ST Residential Units 64 units Average Unit Size 543 SF Residential Net Rentable 34,724 SF GREENWOOD Commercial Net Rentable 1,838 SF GREENWOOD AVE N DEVELOPMENT Gross SF 56,495 SF DAYTON AVE DAYTON N N 84TH ST Parking 25 stalls (18,741 GSF) SAMPLE MASSING PROVIDED BY ANKROM MOISAN ARCHITECTS 12 KIDDER MATHEWS OFFERING MEMORANDUM DEVELOPMENT LAND SAMPLE MASSING FLOOR PLAN - LEVEL P1 FLOOR PLAN - LEVEL 1 FLOOR PLAN - LEVEL 2 - 5 LEVEL GROSS GROSS PARKING ROOF RETAIL LIVE- GROSS LOBBY / NET RES PROJECT # OF AVG. RES. AREA PARKING STALLS DECK WORK RES AREA CORRIDOR AREA EFFICIENCY UNITS UNIT SIZE Roof 600 SF 0 SF 0 600 SF 0 0 0 0 0 SF 0 5 9,652 SF 0 SF 0 0 0 9,652 SF 1,480 SF 8,172 SF 85% 15 545 SF 4 9,856 SF 0 SF 0 0 0 9,856 SF 1,480 SF 8,376 SF 85% 15 558 SF 3 9,856 SF 0 SF 0 0 0 9,856 SF 1,480 SF 8,376 SF 85% 15 558 SF 2 9,856 SF 0 SF 0 0 0 9,856 SF 1,480 SF 8,376 SF 85% 15 558 SF 1 5,475 SF 6,941 SF 0 1,838 SF 1,683 SF 1,424 SF 1,818 SF 1,424 SF 44% 4 475 SF P1 11,800 SF 11,800 SF 25 TOTALS 56,495 SF 18,741 SF 25 600 SF 1,838 SF 1,683 SF 40,644 SF 7,738 SF 34,724 SF 85% 64 543 SF DEVELOPMENT LAND OFFERING MEMORANDUM KIDDER MATHEWS 13 03 LOCATION OVERVIEW DEVELOPMENT LAND OFFERING MEMORANDUM KIDDER MATHEWS 15 FRED MEYER DAYTON AVE N GREENWOOD AVE N 19,839 CARS DAILY N 85TH ST 19,973 CARS GREENWOOD DAILY DEVELOPMENT N 84TH ST Key COFFEE NIGHTLIFE FOOD RETAIL/SERVICES N 83RD ST 16 KIDDER MATHEWS OFFERING MEMORANDUM DEVELOPMENT LAND NORTHGATE GREENWOOD LOCATION GREENWOOD DEVELOPMENT OVERVIEW BALLARD On the outskirts of what were once exclusively considered prime Seattle neighborhoods, North FREMONT Seattle saw a rapid ascension as a Conveniently, 425 N 85th prime investment market after 2012. Development Site is located at Greenwood, a refreshingly eclectic the center of this activity. As the MAGNOLIA and laidback neighborhood within area's commercial attractions and North Seattle, remains a perfect community amenities continue to example of that growth. grow, future residents will have endless opportunities to shop, play, QUEEN ANNE In addition to private multifamily eat, and thrive. development, the City has identified Greenwood as a prime Amidst the neighborhood's CAPITOL HILL area for growth and investment. exciting growth, Greenwood's The Greenwood Town Center, authentic Seattle spirit shines LOCATION HIGHLIGHTS located along 85th Street - the through. As the local chamber of neighborhoods primary East- commerce proudly proclaims, the 5 MINUTE walk to Fred Meyer West corridor - has recently been neighborhood is "Just a little off SEATTLE CBD 8 MINUTE drive to future rezoned to development friendly center." Within a block from 425 Northgate and Roosevelt light zones and increase height limits. N 85th Development Site are local rail stations The re-zone will encourage future shops, cafes, and restaurants line development and investment in the Greenwood Avenue, and nearby 30 MINUTE bus ride to neighborhood, providing residents parks such as Greenwood Park and Downtown with additional amenities and Sandel Park provide sunny green making the area more pedestrian space for community gardens and 7 MINUTE bike ride to Green friendly. playgrounds. Lake DEVELOPMENT LAND OFFERING MEMORANDUM KIDDER MATHEWS 17 MAPLE LEAF GOLDEN GARDENS PARK GREENWOOD DEVELOPMENT GREENWOOD GREENWOOD BRANCH GREEN LAKE BALLARD UNIVERSITY WALLINGFORD DISTRICT FREMONT MAGNOLIA QUEEN ANNE DOWNTOWN SEATTLE SOUTH LAKE UNION 7.7 miles 5.4 miles 18 KIDDER MATHEWS OFFERING MEMORANDUM DEVELOPMENT LAND COMMUTE TO AMENITIES 02 03 03 04 04 06 MINUTES MINUTES MINUTES MINUTES MINUTES MINUTES Flying Bike Brewery Greenwood Library Lodge Sports Grille Taproot Theater Flintcreek Cattle Co Fremont 06 07 08 08 08 10 MINUTES MINUTES MINUTES MINUTES MINUTES MINUTES USPS Branch Green Lake Fred Meyer Woodland Park Zoo Northgate Mall South Lake Union 11 12 15 16 17 36 MINUTES MINUTES MINUTES MINUTES MINUTES MINUTES
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