45 Seattle th Urban Investment Opportunity N 45TH STREET MERIDIAN AVE N FOR SALE
BELLEVUE EASTLAKE UNIVERSITY OF WASHINGTON WALLINGFORD 5 UNIVERSITY DISTRICT MERIDIAN AVE N N 45TH STREET GUILD 45TH
This is a one of a kind opportunity to acquire an asset on the affluent Northside of Seattle; off I-5 in the heart of the Wallingford trade area, one of Seattle s Forever locations, with leasing and development upside. Two extraordinary in-fill Seattle sites. Can be purchased together or separately. The location and zoning are advantageous for vertical development. Ability to retrofit existing building or develop mixed-use, multi-family, office, or retail. Forever unparalleled location. Zoning: NC2P-40, with a proposed upzone to add 15 height (NC2P-55) INVESTMENT GUILD SUMMARY 45TH
TERMS of the Offering ASKING PRICE Best Offer NOI None FINANCING ADDRESS BUILDING AREA Free and Clear 2105 & 2115 North 45th Street, Seattle, WA 98103 10,563 SF LAND AREA 11,359 SF PARCEL NUMBER(S) 051000-2360 & 051000-2560 ZONING INFO NC2P-40, with a proposed upzone to (NC2P-55)
highlights UNPARALLELED LOCATION Close-in Seattle a forever location High density and future densification High incomes with continued growth Booming multi-family and rental growth Extensive trade area growth ½ mile from I-5 interchange 1 mile from University of Washington 46,081 students; 21,977 academic & administrative staff 3 miles from Seattle CBD In the heart of Wallingford Across street from new CVS and Starbucks. PROMINENT LOCATION Prominent location with frontage along 45th provides superior asset visibility in the heart of Wallingford. Benefits from both high vehicular and pedestrian traffic flows. Located just ½ a mile from Interstate 5 (171,000 ADT) on the major eastwest thoroughfare in Wallingford, North 45th Street (25,000 ADT). ATTRACTIVE ZONING Zoning is flexible and allows for various residential and commercial uses, with proposed up-zoning for an additional 15ft of vertical development. Current zoning designation is NC2P-40, with a proposed up-zone to NC2P-55 $ ELITE TRADE AREA The Guild 45th asset is surrounded by many of Seattle s most desirable and affluent neighborhoods; Roosevelt, Wallingford, Greenlake, Fremont, Phinney Ridge and the University District. The trade area contains strong multi-family, office, and retail demand. Retailers in the immediate trade area include QFC, CVS, Walgreens, Starbucks. NO DEBT The property is offered free and clear of debt allowing an investor to take advantage of a new loan. ABILITY TO PURCHASE TOGETHER OR SEPARATELY This structure provides flexibility for the investor pool. In addition investors who purchase both sites have the ability to sell or finance the parcels individually.advantage of a new loan. NOT REGISTERED AS HISTORICAL LANDMARK Guild 45th completed the historical landmark process and was not designated, therefore there are no restrictions beyond the standard zoning regulations. ATTRACTIVE DEMOGRAPHICS Approximately 490,000 people and average incomes of nearly $108,000 within a five-mile radius.
N 45TH STREET WALLINGFORD Commercial Core Aerial WALLINGFORD CENTER GUILD 45TH
SITE Description ADDRESS 2501 & 2115 N 45th Street Seattle, WA 98103 BUILDING AREA 10,563 SF LAND AREA 11,359 SF Parcel # Land SF Building SF Year Built Current Zoning Proposed Up Zone 051000-2360 8,514 6,763 1920 NC2P-40 NCP2-55 (M) 051000-2560 2,845 3,800 1915 NC2P-40 NCP2-55 (M) Totals 11,359 10,563 Zoning (Click for Detailed Zoning Description) Neighborhood Commercial 2 - NCP2-40 Proposed Up Zone to NCP2-55 (M): A moderately-sized pedestrian-oriented shopping area that provides a full range of retail sales and services to the surrounding neighborhood, such as medium-sized grocery stores, drug stores, coffee shops, customer service offices, or medical/dental facilities. Building types are single-purpose commercial structures, multi-story mixed use and residential structures. Non-residential uses typically occupy the street front. 25,000 square feet is the maximum size for some commercial uses. Pedestrian-Designations ( P ) are applied to NC and zones along pedestrian-oriented commercial streets. The P designation preserves and encourages an intensely pedestrian-oriented, retail-shopping district where non-auto modes of transportation, both to and within the district, are strongly favored. Street-level Uses - Limited to pedestrian-oriented nonresidential uses that have the potential to animate the sidewalk environment, such as retail, entertainment, restaurants, and personal services. Drive-in or drive-thru businesses are prohibited. Parking Quantity - Depends on land use and location. No minimum parking is required in Urban Centers, and portions of Urban Villages with frequent transit service within 1/4 mile. Parking Location - In addition to NC zone standards, surface parking is prohibited adjacent to principal pedestrian streets. Parking Access - Must be from alley or side street if feasible, otherwise a two-way curb cut on the principal pedestrian street is allowed. M Designation (MHA requirements) - 6% of homes must be affordable or a payment of $13.25 per sq. ft. PARCEL #: 0510002560 PARCEL #: 051000-2360
MERIDIAN AVE N BAGLEY AVE N N 45TH STREET GUILD 45TH
NORTH EAST SOUTH WEST th 45 th 45 GUILD 45TH
45 demographics th Population 1 mile 2 miles 3 miles 2000 Population 31,217 105,491 226,395 2010 Population 37,451 116,013 248,107 2017 Population 45,303 131,291 281,270 Median Household Income 1 mile 2 miles 3 miles 2017 Median Household Income $59,619 $74,102 $76,605 2022 Median Household Income $72,490 $88,258 $93,449 2017-2022 Annual Rate 3.99% 3.56% 4.06% Average Household Income 1 mile 2 miles 3 miles 2017 Average Household Income $98,539 $112,130 $113,177 2022 Average Household Income $112,860 $129,325 $132,085 2017-2022 Annual Rate 2.75% 2.89% 3.14% Per Capita Income 1 mile 2 miles 3 miles 2017 Per Capita Income $45,297 $50,921 $55,185 2022 Per Capita Income $51,924 $58,607 $64,318 2017-2022 Annual Rate 2.77% 2.85% 3.11% 5 Kirkland 99 1 mile 520 2 miles 3 miles Seattle 405 Bellevue
BAGLEY AVE N SEATTLE CBD QUEEN ANNE EASTLAKE FREMONT 5 WALLINGFORD 99 N 45TH STREET MERIDIAN AVE N GUILD 45TH
Parcel Map PARCEL #: 051000-2560 PARCEL #: 051000-2360 GUILD 45TH
PAUL SLEETH Executive Managing Director 206.518.9547 paul.sleeth@ngkf.com BILLY SLEETH Executive Managing Director 206.518.9567 billy.sleeth@ngkf.com The information contained herein has been obtained from sources deemed reliable but has not been verified and no guarantee, warranty or representation, either express or implied, is made with respect to such information. Terms of sale or lease and availability are subject to change or withdrawal without notice.