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12th & Jackson Square
1200 S. Jackson Street, Seattle, Washington 98144
Scott Clements
206.445.7664
206.793.1074
P
C
E
David Butler
206.445.7665
425.890.7919
P
C
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www.orioncp.com
12th & Jackson Square | ORION Commercial Partners | 2
taBlE Of CONtENtS
The information contained herein was obtained from sources believed reliable, however, ORION Commercial Partners LLC makes no guarantees, warranties, or representations as to the completeness or accuracy thereof. The presentation of this property is submitted subject to errors, omissions, change of price or conditions prior to sale or lease, or withdrawal without notice.
1 INvEStmENt hIghlIghtS
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maRkEt OvERvIEw
4 DEmOgRaPhICS
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12th & Jackson Square | ORION Commercial Partners | 3
thE OffERINg
ORION Commercial Partners is excited to offer for sale the 12th & Jackson Square located at the upper edge of the International District, also known as “little Saigon”, in Seattle, WA.
The 12th & Jackson Square is primed for redevelopment with favorable zoning DMRC (Downtown Mixed Residential/Commercial) with height limits ranging from 65-85 feet.
This part of the International District has not seen significant redevelopment yet with many properties in the area being well beyond their economic useful life. Recently, the International District has began to regentrify with several projects planned in the area.
The 12th & Jackson Square is virtually 100% leased to a variety of small businesses on short term leases. This allows the investor plenty of flexibility to maintain and/or improve upon the existing structures to increase cash flow as an alternative to redevelopment. Current financial information can be made available upon request.
The 12th & Jackson Square is priced at $6,500,000. In addition, 12th & Main Plaza can also be purchased for a combined price of $9,500,000.
This investment opportunity provides strong traffic counts and demographics, close proximity to downtown Seattle, the major hospitals, Seattle University and SODO. With the streetcar 1/2 block away, the site has a walking score of 92 and a Transit Score of 100.
INvEStmENt hIghlIghtS
Offering Price $6,500,000
Total Land Area 23,108 SF
Total Building Area 12,835 SF
Price Per Square Foot $281.29
Zoning DMRC 65/85
Current Financials Available Upon Request
INvEStmENt hIghlIghtS:SummaRy
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INvEStmENt hIghlIghtS
DMRC Zoning
The DMRC (Downtown Mixed Residential/Commercial) Zoning allows for redevelopment from 65’-85’ in height, which is perfectly suited for the influx of population the city is currently experiencing.
Strategic Location - 12th & Jackson Square
12th & Jackson Square, built in 1985, is strategically located and situated in between S. Jackson, 12th Ave S. and S. Main St. with a combined traffic count of over 83,700 vehicles per day.
Strong Demographics
Located in Seattle’s International District (The ID), there are over 43,353 people living within 1 mile of the subject properties and over 186,516 people within a 3 mile radius. Additionally, this property falls within two major commuter arteries: I-5 and Rainier Ave S.
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PhOtOS
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SUBJECT PROPERTY
1200 S Jackson St.
INTERNATIONAL DISTRICT
SEATTLE CBD
PUGET SOUND / ELLIOT BAY
CENTRAL DISTRICT
FIRST HILL
RAINIER AVE S
BOREN AVE S
S JA
CK
SON
ST
159,192 VPD
king Street Station
Elementary School
YESLER TERRACE
N
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PaRCEl maP
N42,267 V
PD 19
,788
VP
D
SUBJECT PROPERTY1200 S. Jackson St.
23,108 SF Land13,835 SF Building
159,192 VPD
21,664 VPD
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aBOut SEattlEVery large companies dominate the business landscape in the “Emerald City”. Four
companies on the 2013 Fortune 500 list of the United States’ largest companies,
based on total revenue, are headquartered in Seattle: Internet retailer Amazon.com
(#49), coffee chain Starbucks (#208), department store Nordstrom (#227), and
freight forwarder Expeditors International of Washington (#428). Other Fortune
500 companies popularly associated with Seattle are based in nearby Puget
Sound cities. Boeing (#30), has large aircraft manufacturing plants in Everett and
Renton, which makes it the largest private employer in the Seattle metropolitan
area. Warehouse club chain Costco (#22), the largest retail company in Washington,
is based in Issaquah. Microsoft (#35) is located in Redmond. Weyerhaeuser, the
forest products company (#363), is based in Federal Way. Finally, Bellevue is
home to truck manufacturer Paccar (#168). Other major companies in the area
include Nintendo of America in Redmond, T-Mobile US in Bellevue, Expedia Inc. in
Bellevue and Providence Health & Services — the state’s largest health care system
and fifth largest employer — in Renton. The city has a reputation for heavy coffee
consumption; coffee companies founded or based in Seattle include Starbucks,
Seattle’s Best Coffee, and Tully’s. There are also many successful independent
artisanal espresso roasters and cafés.
The “Emerald City” is extremely multicultural and is influenced by the Pacific Rim in
art and architecture. The city offers residents a pace of life that can be either relaxed
or fast paced and entrepreneurial.
Seattle, Washington is a coastal seaport city in King County. With an estimated
662,400 residents as of 2015, Seattle is the largest city in both the State of
Washington and the Pacific Northwest region of North America. As of July 2013
it is the fastest-growing major city in the United States,and remained in the top
five in May 2015 with an annual growth rate of 2.1%. The Seattle metropolitan area
of around 3.6 million inhabitants is the 15th largest metropolitan area in the United
States. The city is situated on a narrow isthmus between Puget Sound and Lake
Washington, about 100 miles (160 km) south of the Canada–United States border.
Seattle is the region’s commercial and transportation hub and the center of
manufacturing, trade, and finance. The Port of Seattle, which also operates Seattle–
Tacoma International Airport, is a major gateway for trade with Asia and cruises to
Alaska, and is the 8th largest port in the United States in terms of container capacity.
Its important diversified industries include aircraft, lumber and forest products,
fishing, high technology, food processing, boat building, machinery, fabricated
metals, chemicals, pharmaceuticals, and apparel.
The city’s gross metropolitan product was $231 billion in 2010, making it the 11th
largest metropolitan economy in the United States. Though it was also affected by
the recession, Seattle has retained a comparatively strong economy, and remains a
hotbed for start-up businesses, especially in green building and clean technologies:
it was ranked as America’s No. 1 “smarter city” based on its government policies and
green economy.
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DEmOgRaPhICS
Left: One of Seattle’s oldest neighborhoods, the International District (or simply The I.D.) thrives
with an array of flavorful Asian cuisines, myriad shops selling everything from fresh fish to traditional
herbs, and cool cultural festivals throughout the year.
Radius 1 Mile 3 Mile 5 MilePopulation:
2021 Projection 47,715 204,897 448,654
2016 Estimate 43,659 186,451 410,985
2010 Census 38,821 161,297 366,929
Growth 2016-2021 9.29% 9.89% 9.17%
Growth 2010-2016 12.46% 15.59% 12.01%
2016 Population Hispanic Origin 4,263 13,726 26,440
2016 Population by Race:
White 23,496 123,807 279,819
Black 8,105 21,840 38,004
Am. Indian & Alaskan 763 2,142 3,686
Asian 8,917 29,025 67,900
Hawaiian & Pacific Island 213 630 1,622
Other 2,165 9,007 19,955
U.S. Armed Forces 93 330 930
Radius 1 Mile 3 Mile 5 MileHouseholds:
2021 Projection 23,554 110,287 212,851
2016 Estimate 21,508 100,366 194,847
2010 Census 19,047 87,278 174,786
Growth 2016 - 2021 9.51% 9.88% 9.24%
Growth 2010 - 2016 12.92% 15.00% 11.48%
Owner Occupied 5,046 32,424 80,042
Renter Occupied 16,462 67,942 114,804
2016 Avg Household Income $62,398 $85,826 $93,656
2016 Med Household Income $40,453 $57,257 $63,877
2016 Households by Household Inc:
Less than $25,000 7,499 24,234 41,513
$25,000 - $50,000 4,932 20,500 38,309
$50,000 - $75,000 2,832 14,789 28,760
$75,000 - $100,000 2,226 11,742 22,317
$100,000 - $125,000 1,510 8,638 17,148
$125,000 - $150,000 655 4,994 10,765
$150,000 - $200,000 976 6,237 14,870
$200,000+ 879 9,234 21,164
aREa DEmOgRaPhICS
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DEmOgRaPhICS
DEmOgRaPhIC RINg - 1, 3, 5 mIlES
1 Mile
3 Miles
5 Miles