Office Building for Sale For Sale Office

• Property Type: office

Description

Rare Owner-User Opportunity with Existing Tenant Income

Remodeled 4-story office building featuring a secured lobby entrance, 23+ off-street parking spaces, building conference room, shower facility, hospital grade HEPA filtration system and incredible views of the Ship Canal and Fisherman’s Terminal from every floor. Great location close to Vertical World Climbing Gym, Discovery Park, and many great restaurants and breweries. This is an excellent opportunity for an investor or an owner-user to acquire an updated property with stabilized income from long-term tenants with below market rents. Flexible leases allowing a new owner to occupy a portion or all of the building. 4.6% cap rate based on current income and 62% occupancy. Actual 10%+ cap rate with 90% occupancy.

Details

• Building Size (SF): 20778
• Year Built: 1979
• Building Class: B
• Zoning: MML U/65 - Maritime, Manufacturing & Logistics (MML) zoning allows for a variety of uses incl. office, medical/dental, lab, light/general/heavy industrial, etc.

Features

• Air Conditioning
• Bus Line
• Controlled Access
• High Ceilings
• Kitchen
• Security System
• Shower Facilities
• Skylight
• Storage Space

Location

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