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Mixed-Use

Seattle Stadium District Site Development Opportunity

1032 1st Ave S, Seattle, WA 98134

Listing Price: $14,000,000

Lot Size
0.41 acres
Price/Acre
$33,880,000
Land Type
Land
Buildable Square Feet
202,000

Investment Overview

Marcus & Millichap is pleased to exclusively offer for sale the Stadium District Development Site: an extraordinary opportunity to purchase an 18,000 square foot development site in the heart of Seattle’s sports and entertainment district. Located in between Occidental Avenue South and 1st Avenue South, the property is directly across from the Washington Music Theater (WAMU Theater), next door to the Silver Cloud Hotel, and flanked by the entrances to the Seahawks’ & Sounders’ Lumen Field, and the Mariner’s T-Mobile Park. A short walk North and South one will find numerous major technology employers who call Pioneer Square and SoDo home alongside a wealth of art galleries, retail stores, restaurants, cafes and nightlife establishments. Rapid bus, light rail and regional rail are just blocks away at King Street Station making it a rider’s paradise. Having never been previously developed, the subject property has operated as a parking lot for over a century and as such there are no historic preservation obstacles to redevelopment. The subject property also benefits from being located in both an Opportunity Zone and a Historically Underutilized Business Zone (HUB). Preliminary design estimates from Solomon Cordwell Buenz indicate the potential for developing a 264-key, 185,400 square foot hotel or a 206-unit, 202,000 square foot residential structure. An office tower or other mixed-use structure of similar proportions are also viable on the site.

Investment Highlights

  • 18,000 SF Site In Seattle's Premier Sports and Entertainment District
  • Steps Away From Both Seahawks & Mariners Stadium
  • Zoned PSM-85-120 (Pioneer Square Mixed)
  • Study Indicates Potential For 206 Residential Units or 264 Hotel Rooms
  • Significant Technology Employment In Neighborhood
  • Major Office Developments Nearby
  • Located In An Opportunity Zone & HUB Zone

Exclusively Listed By

Financing By

Mixed-Use

Seattle Stadium District Site Development Opportunity

Listing Price: $14,000,000

Lot Size
0.41 acres
Price/Acre
$33,880,000
Land Type
Land
Buildable Square Feet
202,000

Investment Highlights

  • 18,000 SF Site In Seattle's Premier Sports and Entertainment District
  • Steps Away From Both Seahawks & Mariners Stadium
  • Zoned PSM-85-120 (Pioneer Square Mixed)
  • Study Indicates Potential For 206 Residential Units or 264 Hotel Rooms
  • Significant Technology Employment In Neighborhood
  • Major Office Developments Nearby
  • Located In An Opportunity Zone & HUB Zone

Investment Overview

Marcus & Millichap is pleased to exclusively offer for sale the Stadium District Development Site: an extraordinary opportunity to purchase an 18,000 square foot development site in the heart of Seattle’s sports and entertainment district. Located in between Occidental Avenue South and 1st Avenue South, the property is directly across from the Washington Music Theater (WAMU Theater), next door to the Silver Cloud Hotel, and flanked by the entrances to the Seahawks’ & Sounders’ Lumen Field, and the Mariner’s T-Mobile Park. A short walk North and South one will find numerous major technology employers who call Pioneer Square and SoDo home alongside a wealth of art galleries, retail stores, restaurants, cafes and nightlife establishments. Rapid bus, light rail and regional rail are just blocks away at King Street Station making it a rider’s paradise. Having never been previously developed, the subject property has operated as a parking lot for over a century and as such there are no historic preservation obstacles to redevelopment. The subject property also benefits from being located in both an Opportunity Zone and a Historically Underutilized Business Zone (HUB). Preliminary design estimates from Solomon Cordwell Buenz indicate the potential for developing a 264-key, 185,400 square foot hotel or a 206-unit, 202,000 square foot residential structure. An office tower or other mixed-use structure of similar proportions are also viable on the site.

Exclusively Listed By

Financing By

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