for sale: $3,950,000 - loopnet...growth 2010-2019 25.38% 43.71% 28.81% 2019 population hispanic...
TRANSCRIPT
FOR SALE: $3,950,000 GLASSWORKS BUILDING927 RAINIER AVE S, SEATTLE, WA 98144
1218 Third AvenueSuite 2200Seattle, WA 98101
www.orioncp.com P// 206.734.4100Established in 2010
REPRESENTED BY//DAN FOSTERP // 206.445.7662 [email protected]
MATTHEW HINRICHSP // [email protected]
2 // GLASSWORKS STUDIO BUILDING2 // GLASSWORKS STUDIO BUILDING
Address927 RAINIER AVE S, SEATTLE, WA 98144
Offering Price $3,950,000
Building Size 9,970 SF
Total Land Area 14,761 SF
Parcel #713380-0170, 713380-0175, 713380-0205
Use OWNER/USER
ZoningIC65**Opportunity Zone with $1,000 improvements tax assessment.
Year Built 1906 RENO 1980
THE OFFERINGORION Commercial Partners is excited to offer for sale the Glassworks Building located at 927 Rainier Ave S in the developing Judkins Park neighborhood of Seattle, WA.
The seller occupied building has great existing build-out. The building is a desirable mix of office, flex-production & storage space with heavy power to accommodate unique uses. Occupancy timeline to be discussed with Seller. Seller will vacate the building after closing per a timeline to be discussed with buyer.
The Glassworks Building is located just north of the future Judkins Park Link Light Rail station at Rainier Avenue and I-90. The vibrant and evolving Rainier Ave Corridor has fantastic access to the region and boasts over a 120,000 vehicles per day count on I-90. The immediate area also has very strong demographics with a population of over 215,604 and an Average Household Income of over $110,743 in a 3-mile radius from the subject property.
INVESTMENTSUMMARY
3 // GLASSWORKS STUDIO BUILDING
PROPERTY PROFILE
SUBJECT PROPERTY
4 // GLASSWORKS STUDIO BUILDING
PROPERTY PROFILE
5 // GLASSWORKS STUDIO BUILDING
PROPERTY PROFILE PRODUCTION LEVEL SPACE
POTENTIAL OUTDOOR BREAK AREA
COVERED COURTYARD/LOADING AREASOME AREAS ON PRODUCTION FLOOR PREVIOUSLY OFFICE
HEAVY POWER PRODUCTION AREA
6 // GLASSWORKS STUDIO BUILDING
PROPERTY PROFILE FLOOR PLAN
FLOOR #1 // PRODUCTION & STORAGETOTAL 6,472 (AT GRADE)
FLOOR #2 // OFFICE SPACETOTAL 3,498 (AT GRADE)
COVERED COURTYARD(NOT PART OF FOOTAGE)
OUTDOOR BREAK AREA
7 // GLASSWORKS STUDIO BUILDING
PROPERTY PROFILE PARCEL MAP
713380-0170
713380-0175
713380-0205
8 // GLASSWORKS STUDIO BUILDING
PROPERTY PROFILE AREA AERIAL
N
SUBJECT PROPERTY
FUTURE JUDKINS PARKLIGHT RAIL STATION
KING STREET STATION
LESCHI
SQUIRE PARK
JUDKINS PARK
NORTH BEACON
HELL
PIONEER SQUARE
INTERNATIONAL DISTRICT
CBD
SODO
9 // GLASSWORKS STUDIO BUILDING
RADIUS 1 MILE 3 MILE 5 MILE
POPULATION:
2024 Projection 39,652 237,654 502,694
2019 Estimate 36,547 215,604 461,977
2010 Census 29,149 150,024 358,655
Growth 2019-2024 8.50% 10.23% 8.81%
Growth 2010-2019 25.38% 43.71% 28.81%
2019 Population Hispanic Origin 3,966 17,495 33,514
RADIUS 1 MILE 3 MILE 5 MILE
2019 POPULATION BY RACE:
White 15,174 129,255 293,930
Black 7,430 28,848 47,142
Am. Indian & Alaskan 487 2,723 4,451
Asian 11,255 42,715 90,744
Hawaiian & Pacific Island 242 873 2,095
Other 1,958 11,190 23,614
U.S. Armed Forces: 74 729 1,087
HOUSEHOLDS:
2024 Projection 17,625 121,865 233,746
2019 Estimate 16,275 110,743 215,060
2010 Census 13,201 78,453 169,481
Growth 2019 - 2024 8.29% 10.04% 8.69%
Growth 2010 - 2019 23.29% 41.16% 26.89%
Owner Occupied 4,627 34,093 83,016
Renter Occupied 11,649 76,650 132,044
2019 AVG HOUSEHOLD INCOME $84,020 $112,196 $114,718
2019 MED HOUSEHOLD INCOME $58,996 $85,143 $86,553
2019 HOUSEHOLDS BY HOUSEHOLD INC:
<$25,000 4,335 19,344 34,527
$25,000 - $50,000 3,026 16,121 32,101
$50,000 - $75,000 2,310 14,110 28,689
$75,000 - $100,000 1,964 14,286 26,426
$100,000 - $125,000 1,187 11,691 22,297
$125,000 - $150,000 850 8,424 16,012
$150,000 - $200,000 1,286 9,791 20,937
$200,000+ 1,315 16,976 34,070
DEMOGRAPHICS1, 3 & 5 MILE RADIUS
1 MILE
3 MILES
5 MILES