LRD

COLUMBIA CITY APARTMENT MIXED-USE

GARY HUNTER, CCIM PRINCIPAL | MANAGING BROKER Ofc.: 206.505.9427 Cell: 425.301.7777 [email protected] Investment Offering $2M LIST PRICE 6,964 TOTAL LOT SF

LR3 RC(M) S AVE 27TH ZONING

Westlake Associates, Inc. is pleased to present the Columbia City Land Redevelopment S KING JR WAY LUTHER MARTIN Site for sale. This Apartment and Townhome development opportunity on the line, close-in to shopping, recreation, schools and employment. This easy to develop site offers income from rents while off-site plans and permits are being approved. The Rainier Light Rail area is one of the fastest in-fill areas in Seattle due to its diversity, transportation options, parks and a vibrant business district.

S ANDOVER ST

WESTLAKE ASSOCIATES | 2 VETERAN’S HOSPITAL

COLUMBIA CITY

JEFFERSON PARK & GOLF COURSE

PROPERTY DETAILS Current Use Columbia City Retail Address 3925 MLK Jr Way S | Seattle, WA 98108 Price $2,000,000 Parcel Number 238170-0125 Zoning LR3 RC(M) Building SF 7,020 GSF Property Type Land Existing Improvements Single-Tenant Retail Development Potential Mixed Use Multi-Family & Commercial Terms Cash Out / Seller Leaseback Option S

WESTLAKE ASSOCIATES | 3 Headline font CAPITOL HILL SEATTLE CBD

CENTRAL DISTRICT

1st Ave S

4th Ave S Airport Way S

R ainier A

Spokane St Viaduct ve S

JEFFERSON JEFFERSON PARK 3925 MLK JR WAY S PARK INDUSTRIAL GOLF COURSE

DISCTRICT MLK Jr W

a y S COLUMBIA CITY

N

WESTLAKE ASSOCIATES | 4 Views from Site

WEST EAST

PROPERTY EXTERIOR SOUTH | SOUTHEAST

WESTLAKE ASSOCIATES | 5 Floor Plan

LOWER LEVEL

STREET LEVEL

WESTLAKE ASSOCIATES | 6 Zoning LR3-RC(M) Learn more about Zoning HERE

LOWRISE 3, MULTIFAMILY RESIDENTIAL COMMERCIAL Areas charachterized by multifamily housing types in existing moderate-scale multifamily neighborhoods with good transit service along arterial street and near commercial zones. Housing types include: cottage housing, rowhouse, townhouse and apartments. 3-story lowrise apartment building or townhouses with a density limit of one unit per 800 square feet of lot area and a maximum of 45% lot coverage (50% for townhouses). 25% of lot area is equired for open space for apartments, or 30% if up to a third is provided in balconies or decks (300 square feet of private space per unit is allowed for ground-related housing).

SUBJECT Height Limit PROPERTY 40 - 50 feet

WESTLAKE ASSOCIATES | 7 Demographics & Traffic Count 747,300 est Population, City of Seattle

DRIVE TIME DEMOGRAPHICS 5 MINS 10 MINS 15 MINS 2021 Population 27,216 115,145 256,691 Median $81,598 $75,730 $83,710 HH Income Median Age 40.6 39.4 38.8 # of Households 10,234 45,098 118,070 Renter Occupied 43.4% 49.1% 55.4% Housing # of Businesses 804 4,276 16,303 # of Employees 9,148 58,101 275,790

27,462 VPD

32,361 VPD 27,462 VPD SUBJECT PROPERTY

KEY 5 MINUTES 10 MINUTES 15 MINUTES

WESTLAKE ASSOCIATES | 8 Transportation

BUS STOPS FOR ROUTES 106 There is a bus stops directly adjacent to subject property with major route BUS – 106. The 106 runs from Downtown Seattle/International District, through STOPS Mt. Baker Transit Center and ending in the Renton Transit Center. Transfers to/from Link Light Rail can be made at Mt. Baker, Columbia City, Othello and JUDKINS PARK Rainier Beach Stations. STATION (OPENING 2023) BEACON HILL STATION Travel Time to Westlake Station: 16 Minutes LIGHT RAIL Travel Time to : 22 Minutes STATIONS BEACON HILL Travel Time to Stadium Station: 9 Minutes STATION Travel Time to University of Station: 23 Minutes MOUNT BAKER COLUMBIA CITY STATION STATION Travel Time to Westlake Station: 18 Minutes Travel Time to SeaTac Station: 22 Minutes

JUDKINS PARK STATION Opening: 2023 Location: The center roadway of I-90 at Rainier Ave S & 23rd Ave S BUS STOP Travel Time to : 10 Minutes SUBJECT PROPERTY FOR ROUTES Travel Time to University of Washington Station: 20 Minutes 106 Amenities: Secure Bicycle Storage, Passenger Drop-Off/Pick-U FRESCO APARTMENTS COLUMBIA LINK LIGHT RAIL SCHEDULE CITY STATION

WESTLAKE ASSOCIATES | 9 Beacon Hill & Columbia City

ABOUT COLUMBIA CITY many of the local businesses participate with Jazz bands, open houses and art shows. To the east of Beacon Hill is Columbia City. Today, the thriving pedestrian business district along Rainier Avenue South has become something of The surrounding blocks are mostly single-family homes, in many cases older a citywide destination, and is home to a number of bars and restaurants, craftsman bungalows, with a handful of low-income apartment buildings assorted retail shops, a successful farmer’s market on Wednesday evenings and more expensive new townhouses and condos. On the ridge above in the summer/fall, Columbia City Theater (a live music venue), Bike Works the business district, where views of Lake Washington and the Cascade (a community charity that lets kids earn bikes by learning to repair them), a Mountains are common, many new expensive homes have been built, and bio diesel co-op, and several community service centers. The neighborhood many smaller homes expanded and updated. hosts a bustling monthly “Beat Walk,” every first Sunday, May–October, and

ABOUT BEACON HILL Beacon Hill is a neighborhood in southeast Seattle. Though most people who live there simply call it “Beacon Hill,” the area subdivides into North Beacon Hill, Beacon Hill, Holly Park, and South Beacon Hill. Former home to the world headquarters of Amazon.com and present home to the Seattle Division of the Department of Veterans Affairs’ Puget Sound Health Care System, the hill offers views of downtown, the Industrial District, Elliott Bay, First Hill, Rainier Valley, and, when the weather is good, Mount Rainier and the Olympic Mountains.

DOWNTOWN SEATTLE FROM BEACON HILL WESTLAKE ASSOCIATES | 10 Neighborhood & Amenities

FOOD & DRINKS Doake’s Barbecue Rainier Teriyaki Magic Dragon Restaurant MOD Pizza Castello Pizza & Pasta Emerald City Fish & Chips Legend Food Seattle Chicken Express 1 MILE Cafe Ibex Ezell’s Famous Chicken Bana Ethiopian & Eritrean Chandala Thai Bananas Grill Breezy Town Pizza Beacon BBQ Tippe & Drague Alehouse Beacon Grill Cafetal Quilombo Cafe SUBJECT PROPERTY Bar del Corso

SHOPPING & SERVICES Safeway Ross Dress for Less Rainier Vehicle Licensing T-Mobile Walgreens Hilltop Red Apple QFC Lowe’s U-Haul Storage of Rainier Valley Shiil Grocery & Halal Market Seattle Super Market PCC Natural Markets VA Hospital Seattle Fire Station 30 Jefferson Park Golf Course Franklin High School WESTLAKE ASSOCIATES | 11 Puget Sound Summary

Set in the beautiful Pacific Northwest, the greater Seattle area is a national area. The Port of Seattle, which also operates the Seattle-Tacoma International center for manufacturing, technology, services, international trade and tourism. Airport, is a major gateway to Asia and cruises to Alaska. The Port of Seattle ranks as the 6th business seaport in the US, playing a key role in bringing MAJOR EMPLOYERS international trade, transportation and travel to the Pacific Northwest.

Today some of the world’s most recognizable Fortune 500 companies call RECREATION Seattle home: Microsoft, Starbucks, Amazon, Nordstrom, Costco and REI. Other major companies in the area include Boeing, T-Mobile. Expedia, F5 The region is known for its quality of life, arts, and outdoor lifestyle which Networks and Nintendo of America. helps attract an educated workforce. Numerous camping, hiking, winter sports, and recreational activities are located a short drive from the city. According to the Puget Sound Business Journal, technology companies are Seattle’s main attractions include Pike Place Market, the Space Needle, and leading the way in employment growth in the Seattle MSA. As the home of Seattle Center, home of the 1962 World’s Fair. Seattle is home to a number Microsoft and Amazon, Seattle accounts for over 20% of the nation’s software of professional sports teams including the 2013 Super Bowl champions, the publishing employment. Microsoft is one of the top employers in the sate with Seattle Seahawks, the Seattle Mariners, and the Seattle Sounders FC soccer over 42,000 employees. Their World Headquarters, located in Redmond is team. over 10 million square feet. PUGET SOUND The Puget Sound has become a international leader in innovative industries with organizations such as the Fred Hutchinson Cancer Research Center, LARGEST EMPLOYERS the University of Washington Medical Center and the Bill and Melinda Gates foundation. Healthcare employment is projected to continue to grow dramatically and Seattle has the 5th largest biotechnology Research and Development alliance between the University of Washington and the Fred Hutchinson Cancer Research Center.

The Puget Sound is one of the capitals of the aerospace industry anchored JOINT BASE by Boeing, the world’s largest aerospace company, second-largest maker of LEWIS-MCCHORD large commercial jets, and second largest global defense contractor. Boeing is one of the largest employers in the Puget Sound, employing approximately 80,000 in Washington.

Employment is expanding through the greater Seattle area. The Puget Sound region is projected to generate 1.2 million new jobs by 2040.

INTERNATIONAL TRADE

Seattle has remained one of the most resilient cities due to its diverse industries, making it more attractive for new companies to relocate and expand in the

WESTLAKE ASSOCIATES | 12 About Westlake

Since 1975, Westlake Associates, Inc. has been the premier provider of commercial real estate brokerage services in the Puget Sound Region.

Our unsurpassed commitment to creating and preserving our clients’ real estate investment wealth has resulted in thousands of successful transactions and a long history of repeat business and client referrals.

The professionals at Westlake Associates collaboratively work with clients to develop customized, creative solutions designed to maximize investment returns.

We’ve built a strong foundation of experience in Investment EXCLUSIVELY LISTED BY: Property Sales, Commercial Leasing, Property Management, GARY HUNTER, CCIM and comprehensive real estate services over our 40 year history. We operate as a team and leverage each other’s resources and PRINCIPAL | MANAGING BROKER experience to provide the highest level of client services. Ofc: 206.505.9427 Cell: 425.301.7777 PROUD MEMBERS OF: [email protected] Commercial Brokers Association (CBA) Northwest Multiple Listing Services (NWMLS) LoopNet National Listing Services CoStar Commercial Real Estate Data & National Listing Commercial Investment Real Estate (CREI) Washington State Realtors Association (WSMA)

DISCLAIMER: 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 1200 Westlake Avenue N, Suite 310 square footage, age, and numbers are approximate. Parties must verify the information and bear all risk Seattle, Washington 98109 for any inaccuracies. ©2021 WESTLAKE ASSOCIATES, INC.