Follow the link below to access the full Offering Memorandum and all deal documents.
13th & Pine is a 6,020 SF site zoned NC3P-75 (M) located at 1525 13th Ave, Seattle, WA 98122. The existing commercial building is occupied by a tenant on a short-term lease, offering attractive in-place income while providing flexibility for future development to the purchaser. This offering is priced at $3,250,000.
Location: Capitol Hill remains one of Seattle’s most in-demand neighborhoods, offering residents every lifestyle amenity they could ask for and unmatched regional connectivity. Just two blocks from Cal Anderson Park — the heart of Capitol Hill — and the Pike/Pine Corridor brimming with restaurants, bars, and cafes, this location is the best that urban living has to offer.
Development Potential: Newly adopted zoning increased height limit to 75 feet, with an additional 4 feet for street level units, yielding potential for a mixed-use development of over 50 residential units.
Existing Income: The existing light industrial building is occupied by a tenant on a short-term NNN lease, providing attractive in-place income with the flexibility needed for development.
Situated just two blocks from Cal Anderson Park in the heart of Capitol Hill’s Pike/Pine Corridor, 13th & Pine is perfectly located in this high-demand neighborhood. A quick bike ride transports professionals to tech employers in South Lake Union, and the Link light rail travels Downtown and to the University of Washington in just four minutes. For those driving to Eastside employers such as Microsoft, back routes cut I-5 congestion out of the commute. With the planned light rail expansions, connectivity to this already central hub will increase dramatically.
Capitol Hill also fulfills the “play” requirement of the live-work-play trifecta. As soon as the sun starts shining in Seattle, the neighborhood congregates on the grassy fields of Cal Anderson Park, or in line at Molly Moon’s Ice Cream. Social gatherings at local bars and restaurants along Broadway create vivacity from morning to night.
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Kidder Mathews is the exclusive Listing Brokerage for this Offering. Jerrid Anderson, Sophia Wong, and Winslow Lee are exclusively representing the Seller in the sale of 13th & Pine.