- Property Type: retail
Description
Prime Corner Retail Investment in Seattle’s Magnolia Village
Located in the heart of Magnolia Village, 3221–3223 W McGraw Street presents an opportunity to acquire a two-tenant retail investment property in one of Seattle’s established neighborhood commercial districts.
Positioned at the intersection of West McGraw Street and 33rd Avenue West, the property benefits from prominent corner exposure, established retail tenants, and convenient access to the shops, restaurants, and services that define Magnolia Village.
The 9,400 square foot building, including approximately 4,700 square feet of basement space, occupies a 4,743-square foot corner parcel. Originally constructed in 1927, the property is leased to two neighborhood businesses, Magnolia Village Pub and Uptown Espresso, under triple-net (NNN) lease arrangements.
With a reported net operating income of $130,299 and a current capitalization rate of 4.65%, the property offers an existing income stream alongside potential future owner-user flexibility.
Details
- Building Size (SF): 4,700 SqFt + 4,700 SqFt basement = 9,400 SqFt
- Lot Size (Acres or SF): 4,743 SqFt
- Year Built: 1927 (Effective Year Built: 1993)
- Zoning: NC2P-55 (M)