Seattle, WA 98199 4241 21st Avenue W
$3,500,000
Pending
Presented By: Windermere Real Estate Midtown and NWMLS
- MLS# 2321503
- 01/09/2025
Disclaimer: The information contained in this listing has not been verified by kvCORE WordPress Staging and should be verified by the buyer.
Home Details
96% leased remodeled office building with ample off-street parking. This 4-story office building has incredible views of fisherman’s terminal & ship canal from every floor. It features a secured lobby entrance, 23+ off-street parking spaces, building conference room, shower facility, and hospital grade HEPA filtration system. Great location close to Vertical World Climbing Gym, Discovery Park, and many great restaurants and breweries. This is an excellent opportunity for an investor or owner-user to acquire an updated property with stabilized income from long-term tenants. The current cap rate w/ in-place below market rent is 5.30%. Cap rate increases to over 8% once 3 small available suites are leased. Please don’t disturb current tenants.
Presented By: Windermere Real Estate Midtown and NWMLS
Interior Features for 4241 21st Avenue W
Bedrooms
Bedrooms Possible0
Bedrooms Upper
Bathrooms
Baths Full Upper0
Baths Half Upper
Baths Three Quarter Upper
Other Interior Features
Air Conditioning Y/NYes
Ceiling Height11
Fireplace Y/NNo
FlooringCeramic Tile, Concrete, Laminate, Carpet
Heating Y/NYes
Interior AmenitiesCeramic Tile, Concrete, Laminate
Power Production TypeElectric
Total Fireplaces
General for 4241 21st Avenue W
Building Area UnitsSquare Feet
Building FeaturesDisabled Access, Elevator, Signage Included, Storage
Cap Rate5.3
Carport Y/NNo
CitySeattle
Cooling90%+ High Efficiency, Central A/C, HEPA Air Filtration
CountyKing
Directions15th West to Emerson (just south of ballard bridge.) West on Emerson, first right past Fisherman’s Terminal. Property about 1/3rd way down block west side of street.
Electric Expense17213
Fuel Expense8078
HOANo
HOA Fee$
Heating90%+ High Efficiency, HRV/ERV System
Insurance Expense4677
Listing TermsCash Out, Conventional
Living Area UnitsSquare Feet
Lot Size Square Feet12000
Lot Size UnitsSquare Feet
MLS Area700 – Queen Anne/Magnolia
ModificationTimestamp2025-05-29T17:45:11.107Z
NWM_ShowMapLinkY
Net Operating Income185687
Number Of Units Total4
PossessionClosing, Subject to Tenant Rights
Possible UseBusiness, Commercial, Industrial, Office
Property Style61 – Comm Bldg Ovr 10K
Property SubtypeCommercial Industrial
Property TypeCommercial Sale
Public Remarks96% leased remodeled office building with ample off-street parking. This 4-story office building has incredible views of fisherman’s terminal & ship canal from every floor. It features a secured lobb
RoofBuilt-Up, Flat
Senior Community Y/NNo
SewerSewer Connected
Special Listing ConditionsNone
Standard StatusPending
StatusPending Feasibility
Structure TypeUnspecified
Subdivision NameMagnolia
Tax Annual Amount42020
Tax Year2024
TopographyLevel
Total Actual Rent28039
Water CompanySeattle Public Utilities
Water Sewer Garbage9184
Year Built1979
Zoning DescriptionBusiness, Commercial, Industrial, Industrial-Light, Office
Exterior for 4241 21st Avenue W
Building Area Total
Covered Spaces10
Exterior AmenitiesCement/Concrete, Wood Products
Foundation DetailsPoured Concrete
Irrigation Water Rights Y/NNo
Lot Dimensions100 x 120
Lot Number7-10
Lot Size Acres0.2755
Parking Uncovered Total13
Site Frontage100
Total Parking23
Water SourcePublic
Additional Details
Price History
Josh QA1
REALTOR ® SRES ®