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Vacant-User

Greenwood

300 NW 85th St, Seattle, WA 98117

Listing Price: $3,000,000

Cap Rate
1.00%
Rentable SF
4,460
Lot Size
0.11 acres
Year Built
1933

Investment Overview

300 NW 85th St Seattle, WA lies in the middle of the up-and-coming Greenwood neighborhood. Built in 1933 and renovated in 1975, it has been owned by Mak Farnsworth LLC since 2012 and leased to the primary tenant, Have a Heart marijuana shop, since November 2015. The single-story building spans 4460 square feet on a 4640 square foot lot. The primary tenant, Have a Heart, just renewed their lease through April 1st 2024. Fremont Fellowship and Ludlow Farms are extending their lease on April 2nd 2022. Foot traffic can be expected from the adjacent Fred Meyer supermarket across 3rd Avenue, the 105-unit Janus apartment building built in 2015 and a 39-unit building on the same block. A growing population is evident given these new multifamily developments. Greenwood and 85th, two blocks west, has become a quickly growing retail hotspot. Several small businesses have since invested into the neighborhood. Restaurants include Flintcreek Cattle and O Maki Rolls + Teriyaki. Bars like Houndstooth Public House, and The Angry Beaver Grill line Greenwood while one can grab breakfast at a nearby diner. Chuck’s Hop Shop, a great place to grab a beer or sixpack located at 85th St and 8th Ave, ties the neighborhood together putting 300 N 85th St at the center of a prime retail district in North Seattle. While Have a Heart remains a popular place for a growing population in North Seattle, 300 NW 85th St Seattle, WA is uniquely positioned to take advantage of a high value retailer should the owner choose to find a new lessee upon experiment of the current lease. The lot itself lies in the middle of a neighborhood witnessing growth and represents a rare opportunity with remarkable upside.

Investment Highlights

  • Growing neighborhood
  • Shops and amenities in close proximity
  • Transit nearby

Exclusively Listed By

Vacant-User

Greenwood

Listing Price: $3,000,000

Cap Rate
1.00%
Rentable SF
4,460
Lot Size
0.11 acres
Year Built
1933

Investment Highlights

  • Growing neighborhood
  • Shops and amenities in close proximity
  • Transit nearby

Investment Overview

300 NW 85th St Seattle, WA lies in the middle of the up-and-coming Greenwood neighborhood. Built in 1933 and renovated in 1975, it has been owned by Mak Farnsworth LLC since 2012 and leased to the primary tenant, Have a Heart marijuana shop, since November 2015. The single-story building spans 4460 square feet on a 4640 square foot lot. The primary tenant, Have a Heart, just renewed their lease through April 1st 2024. Fremont Fellowship and Ludlow Farms are extending their lease on April 2nd 2022. Foot traffic can be expected from the adjacent Fred Meyer supermarket across 3rd Avenue, the 105-unit Janus apartment building built in 2015 and a 39-unit building on the same block. A growing population is evident given these new multifamily developments. Greenwood and 85th, two blocks west, has become a quickly growing retail hotspot. Several small businesses have since invested into the neighborhood. Restaurants include Flintcreek Cattle and O Maki Rolls + Teriyaki. Bars like Houndstooth Public House, and The Angry Beaver Grill line Greenwood while one can grab breakfast at a nearby diner. Chuck’s Hop Shop, a great place to grab a beer or sixpack located at 85th St and 8th Ave, ties the neighborhood together putting 300 N 85th St at the center of a prime retail district in North Seattle. While Have a Heart remains a popular place for a growing population in North Seattle, 300 NW 85th St Seattle, WA is uniquely positioned to take advantage of a high value retailer should the owner choose to find a new lessee upon experiment of the current lease. The lot itself lies in the middle of a neighborhood witnessing growth and represents a rare opportunity with remarkable upside.

Exclusively Listed By

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