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Greenwood Assemblage

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Price: $4,500,000

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Executive Summary

The Greenwood Assemblage is a combined 17,716 SF site located at 9240 and 9252 Greenwood Ave N in Seattle’s Greenwood neighborhood. The site is currently occupied by a fully renovated, one-story, standalone office building with surface parking, as well as a nine-unit, mixed-use apartment building. The buildings offer attractive in-place income with the opportunity for an owner-user.

Additionally, newly adopted zoning along the Greenwood Ave N corridor increased height limits from 40 to 55 feet, allowing for exceptional development potential in an attractive and growing neighborhood in Seattle.

Assemblage Summary

Address
9240 - 9252 Greenwood Ave N, Seattle, WA
No. of Parcels
2
Parcel Numbers
946520-0017, 946520-0010
Land Size
17,716 SF
Zoning
C1-55 (M)

Existing Buildings

Buildings
2
Years Built
1962 / 1949
Total Residential Units
9
Total Commercial Units
2
Residential NRSF
5,685 SF
Commercial SF
3,011 SF

Investment Opportunity

Redevelopment Potential: Newly adopted zoning along the Greenwood Ave N corridor has increased height limits from 40 to 55 feet, allowing for exceptional development potential in an attractive and growing neighborhood in Seattle.

Existing Income: A stabilized mixed-use apartment building with ground-floor office, and an adjacent standalone retail building provide attractive in-place income, with added ability to further increase cash flow.

Great Location: Located just steps from the Greenwood amenities and just 6 miles from downtown Seattle, the property combines the right balance of convenience and livability. Additionally, the Northgate Redevelopment promises to bring new growth and energy to the area.

Redevelopment Potential

Existing Income

Great Location

Location

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Greenwood Assemblage

9240 - 9252 Greenwood Ave N
Seattle, WA 98103
Units: 9 Residential + 2 Commercial
Price: $4,500,000

About the Area

On the outskirts of what were once exclusively considered prime Seattle neighborhoods, North Seattle saw a rapid ascension as a desirable investment market after 2012. Greenwood, a refreshingly eclectic and laid-back neighborhood within North Seattle, remains a perfect example of that growth.

In addition to private multifamily development, the City identified Greenwood as a key area for growth and investment. The Greenwood Town Center, located along 85th Street — the neighborhood’s primary East-West corridor − was recently been rezoned to development-friendly zoning with increased height limits. The rezone will encourage future development and investment in the neighborhood, providing residents with additional amenities and making the area more pedestrian friendly.

The Greenwood Assemblage is located just steps from this activity, providing the right balance of convenience and livability. As the area’s commercial attractions and community amenities continue to grow, future residents will have endless opportunities to shop, play, eat, and thrive.

Amidst the neighborhood’s exciting growth, Greenwood’s authentic Seattle spirit shines through. As the local chamber of commerce proudly proclaims, the neighborhood is “Just a little off center.” Within a few blocks of the site are numerous cafes and restaurants lining Greenwood Avenue N, and nearby parks such as Greenwood Park and Sandel Park provide sunny green space for community gardens and playgrounds.

2 Minute Drive

to Fred Meyer

6 Minute Walk

to Greenwood Town Center

12 Minute Bike Ride

to Golden Gardens Park

12 Minute Bike Ride

to Green Lake

30 Minute Bus Ride

to Downtown Seattle

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Exclusive Listing Brokers

Kidder Mathews is the exclusive Listing Brokerage for this Offering. Dylan Simon, Jerrid Anderson, and Matt Laird are exclusively representing the Seller in the sale of the Greenwood Assemblage (9240-9252 Greenwood Ave N, Seattle).

Direct: 206.414.8575

       
       

Direct: 425.736.5516