Office

2009 Minor

2009 Minor Ave E, Seattle, WA 98102

Listing Price: $6,500,000

Lot Size
0.52 acres
Price/Acre
$12,528,319
Land Type
Redevelopment

Investment Overview

2009 Minor Avenue East is a 22,600 sq. ft. lot with split zoning of LR3 (M) and LR2-RC (M) in the Eastlake Residential Urban Village. Located between Fairview Avenue and Minor Avenue, only houseboats separate this lot from Seattle’s iconic Lake Union. Currently home to a one story, 7,111 sq. ft. office building, this lot is a prime re-development candidate for apartments or townhomes in one of Seattle’s highest valued single-family and multifamily residential neighborhoods. The Eastlake neighborhood has seen substantial investment into it’s single family and multifamily sectors this cycle. New town homes regularly achieve sales prices in the $1,000,000 range with Redfin categorizing the neighborhood as Very Competitive. Many homes in this area receive multiple offers and the most desired homes can sell above list price and go pending in around 5 days according to Redfin. Additionally, Eastlake has one of the highest rental averages for apartment units in the Seattle area due to its neighborhood amenities, views of lake union, and proximity to high paying employment opportunities downtown Seattle. The neighborhood is walkable, has many transit options, is bike friendly and connected to some of Seattle’s most popular areas: South Lake Union, Capitol Hill and the University of Washington. This is a rare offering of size and scale for the Eastlake Neighborhood.

Investment Highlights

  • 22,600 sq. ft. in the Eastlake Urban Village
  • Preliminary Yield Study for 21 Town Homes
  • Views of Lake Union, Downtown, Space Needle, Gasworks Park
  • Current Owner's Cleared Historical Review

Exclusively Listed By

Listing Price: $6,500,000

Lot Size
0.52 acres
Price/Acre
$12,528,319
Land Type
Redevelopment

Investment Highlights

  • 22,600 sq. ft. in the Eastlake Urban Village
  • Preliminary Yield Study for 21 Town Homes
  • Views of Lake Union, Downtown, Space Needle, Gasworks Park
  • Current Owner's Cleared Historical Review

Investment Overview

2009 Minor Avenue East is a 22,600 sq. ft. lot with split zoning of LR3 (M) and LR2-RC (M) in the Eastlake Residential Urban Village. Located between Fairview Avenue and Minor Avenue, only houseboats separate this lot from Seattle’s iconic Lake Union. Currently home to a one story, 7,111 sq. ft. office building, this lot is a prime re-development candidate for apartments or townhomes in one of Seattle’s highest valued single-family and multifamily residential neighborhoods. The Eastlake neighborhood has seen substantial investment into it’s single family and multifamily sectors this cycle. New town homes regularly achieve sales prices in the $1,000,000 range with Redfin categorizing the neighborhood as Very Competitive. Many homes in this area receive multiple offers and the most desired homes can sell above list price and go pending in around 5 days according to Redfin. Additionally, Eastlake has one of the highest rental averages for apartment units in the Seattle area due to its neighborhood amenities, views of lake union, and proximity to high paying employment opportunities downtown Seattle. The neighborhood is walkable, has many transit options, is bike friendly and connected to some of Seattle’s most popular areas: South Lake Union, Capitol Hill and the University of Washington. This is a rare offering of size and scale for the Eastlake Neighborhood.

Exclusively Listed By

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