• EXECUTIVE SUMMARY
• SEATTLE OVERVIEW
• NEIGHBORHOOD OVERVIEW
• PROPERTY DETAILS
• COMPARABLE TOWNHOME SALES
• NORTH SEATTLE APARTMENT MARKET
• CONTACT INFORMATION
Development Potential for Townhomes, Apartment, & Retail
Anomaly Commercial and Keller Williams Realty Bellevue are pleased to present our analysis for this North Seattle development site in the Wedgwood neighborhood. The property includes one parcel on the corner of NE 94th St. and 35th Ave NE. The property features a 2,323 SF retail building and 11,832 SF of land zoned NC1-30.
Explosive population and job growth
U.S. Census Bureau rank of fastest growing cities
population increase (one-year period)
employment increase (one-year period)
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.
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.
Wedgwood, a community in N. Seattle, combines commercial proximity, urban walkability, and convenient commutes with a neighborhood feel.
With Seattle's major employment centers in close reach (less than 2 miles to the University of Washington, less than 6 miles to the South Lake Union technology core), residents enjoy incredibly convenient commuting options: I-5 borders the area to the West, and 35th Avenue is home to major bus lines. The completion of the planned Northgate light rail station will put Wedgwood residents within walking distance of the future of Seattle public transportation.
Restaurants, coffee shops, and retail abound on 35th Avenue and directly to the East in Northgate Mall.
Buildable SF Allowed
Zoning (2.5 Max FAR)
Potential Annual Rental Income
Annual Property Taxes
2,323 SF Retail Building
Environmentally Sensitive Areas
Recent Townhouse Sales
Average Sales Price
Est. # of Units
$100K to $125k
Price Per Townhome Unit
$1.30 - 1.63M
Est. # Sale Price
(Further Feasibility Req.)
N. Seattle Apartment Market
All information contained in this offering was obtained from sources we believe to be reliable; however, Anomaly Commercial and Keller Williams Realty has not verified its accuracy and makes no guarantees, warranty or representation about it.