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Commercial Condo Portfolio

19500 Ballinger Way NE | Shoreline, WA 98155

3 Suites Totalling 6,665 SF

CONTENTS

 

• SUMMARY

 

• 3 OFFICE SUITES

 

• FINANCIAL & TENANT DATA

 

• SEATTLE OVERVIEW


Summary

2004 commercial condo portfolio with income in place from existing tenancy

 

Anomaly Commercial & Keller Williams International are pleased to present this commercial condo portfolio.  Collectively, the property is offered at a 6.63% proforma cap rate.  There is one vacancy in smallest unit (1748 SF or 26%).  These 3 suites can be sold separately or together.

The commercial portion of the project is an attached 2-story building at the corner of Ballinger Way NE and 25th Ave E. There are 3 beautifully designed office suites with on-grade entries and ample parking.  

Located on the busy signalized intersection of Ballinger Way, the property benefits from high visibility and solid traffic count. Signage on the building is available.  The First tenant is a popular dentist with a very pristine build out. Second tenant is a business owner of very popular merchandise store with multiple locations in the Puget Sound Region and uses their space for housing inventory.


3 Office Suites

Two leased and one vacant

 

1,748 SF

Unit A

( Vacant | Turn-Key Condition )

1,995 SF

Unit B

( Leased by Dentist )

2,912 SF

Unit C

( Leased by Popular Retailer )

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**Red highlights vacant space


Financial & Tenant Data

6,665 SF of ultra low maintenance office

 
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Seattle Overview

Explosive population and job growth

 

#1

U.S. Census Bureau rank of fastest growing cities

3.1%  

Population increase

( one-year period )

2.9%

Employment increase

( one-year period )

 
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Seattle's explosive growth is no secret. Ranked by the U.S. Census Bureau as the #1 fastest growing city in the country, Seattle's population growth is buoyed by the employment opportunities offered here by some of the world's strongest companies: Amazon, Microsoft, Starbucks, Google, Boeing.

 

 

 

This unprecedented population surge has created one of the hottest housing markets in the country. Price gains for homes have ranked #1 nationally every month since September 2016, with sales outpacing listings 11 of the last 12 months. As of June 2017, median home sales price had risen to $735,00 and average price per square foot had climbed to $410. Meanwhile, inventory has fallen to 0.7 months.