3104 Western AVE Active Save Request In-Person Tour Request Virtual Tour
Seattle,WA 98121
Key Details
Property Type Commercial
Sub Type Commercial Industrial
Listing Status Active
Purchase Type For Sale
Subdivision Belltown
MLS Listing ID 2369846
Style 61 - Comm Bldg Ovr 10K
HOA Fees $1,000/mo
Year Built 2008
Annual Tax Amount $16,586
Property Sub-Type Commercial Industrial
Property Description
Secure access, 72-stall parking garage located within a Class A condominium in Belltown, blocks to Seattle's waterfront and Seattle Center. 69 car spaces and 3 motorcycle stalls. Current monthly parking rates are below market with immediate upside potential allowing for a likely 6.5% cap rate. Out-of-town seller willing to carry the contract with 40% down payment. Shrinking inventory of parking spaces as a new construction typically provides less parking than needed and surface parking lots are redeveloped. Near $0 in maintenance costs given condo structure / HOA responsibility. Located within a well-maintained building. Car collector/owner-occupant opportunity. 40-50 spaces occupied by office building across the street with no parking.
Location
State WA
County King
Area 701 - Belltown/Downtown Seattle