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Riverside Plaza

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Riverside Plaza

6348 6355 S 6th Ave S, Seattle, WA 98108
Industrial For Sale Available Built 1985 2 floors Zoning: IG2-U/85
Asking Price
$1,900,000
Total Building7,243 SF
Land12,067 SF land
ConstructionMasonry
MarketS. Seattle
CountyKing

Read Overview
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Overview

Property ID
204408
Listing ID
705342
Type
Industrial
Asset Class
Industrial
Zoning
IG2-U/85

Description

+ RARE “VALUE-ADD” INVESTMENT OPPORTUNITYCurrent rents of $1.12/sf are significantly below market rents of $1.40- $1.50 for similar spaces in the area, creating significant rental upside for an investor. Both lease renewals in 2029 have the rent set at Fair Market Value.+ PRICE BELOW ASSESSED VALUE (LOW COST-BASIS)The price/sf of the offering at list price is only $260/sf, well below the market price/sf of $300-$400/sf for similar sized industrial buildings in the area. In addition, the list price of $1,900,000 is $200K lower than the current tax assessed value of ~$2,100,000.+ IDEAL “CLOSE-IN” SEATTLE LOCATIONSituated in the highly sought after Georgetown industrial market.

Listing Courtesy of:

KS
Kyle Sterling
NAI Puget Sound Properties
914 A St #200,
Tacoma, WA 98402
State: WA City: Seattle ZIP: 98108 Type: For Sale

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Disclaimer: The information contained in this listing has not been verified by Muljat Commercial and should be verified by the buyer.