3104 Western Ave Seattle, WA 98121 – Trio Condominiums and Parking Garage

Trio Condominiums and Parking Garage (Status: Available) 2275000

3104, Western Ave, Seattle, WA  98121

Well located, 72-stall parking garage located in Belltown, blocks to Seattle’s waterfront and Seattle Center. Secure access parking with 69 car spaces and 3 dedicated motorcycle stalls. Current monthly parking rates are below market with immediate upside potential allowing for a likely 7.6% cap rate. Out-of-town seller willing to carry the contract contract at 6.25% interest for a 5-year term with a $1,000,000 down payment. Shrinking inventory of parking spaces as 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 p

Listing Details

Asset Class: Specialty
Year Built: 2007
Building Total Square Feet: 25637
Available Lease Space Square Feet: 22541
Number of Floors: 6
Total Parking Spaces: 72
Local Zoning Information: DMC-75

Listing Courtesy of: Kidder Mathews

Disclaimer: The information contained in this listing has not been verified by Pacific Continental Realty, LLC and should be verified by the tenant or buyer.