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Listed by:Keller Williams Rlty Bellevue • Ed Sarausad
$ 1,500,000
Est. payment | /mo
3,600 Sqft Lot
$ 1,500,000
Est. payment | /mo
3,600 Sqft Lot
Key Details
Property Type Commercial
Sub Type Commercial Industrial
Listing Status Active
Purchase Type For Sale
Subdivision Central Area
MLS Listing ID 2533213
Style 75 - Retail
Year Built 1912
Annual Tax Amount $7,699
Lot Size 3,600 Sqft
Property Sub-Type Commercial Industrial
Property Description
Freestanding commercial building on S. Jackson Street in Seattle's Central District — one of the most actively developing corridors in the Pacific Northwest. 2,480 SF Class C storefront on 3,484 SF NC2-40 parcel with 45-ft street frontage. Built 1912. Current FAR 0.71 — over 75% of permitted FAR untapped. Permitted FAR increases to 3.0+ under pending Centers & Corridors upzone legislation (One Seattle Plan, council vote anticipated July 2026), with anticipated rezoning from NC2-40 to NC2-55 or NC2-65. At post-upzone FAR, the 3,484 SF lot supports approximately 10,452 SF of buildable floor area — roughly 4x the existing building. Active restaurant occupies the building, providing income to offset carry during the 18–36 month permit and entitlement window. No new ground-up construction on this block since 2018 — a supply gap on a corridor that has seen $97.7M in permitted construction since 2020. 2,701 net new residential units added in the 98144 zip since 2020 across 77 projects. 575 units currently under active construction in 98144. One block from a 532-unit institutional mixed-use project delivered 2025. Frequent-transit corridor — parking minimums eliminated under current code. Assessed land value $630,000 (2025 King County). Motivated seller exiting to pursue other business interests — priced at current NC2-40 land value. Upzone optionality included at no premium. Real estate offered separately from going-concern business. Buyer to verify all zoning. View by Appt only.
Location
State WA
County King
Area 390 - Central Seattle
Interior
Flooring Laminate
Fireplace false
Exterior
Exterior Feature Wood
Roof Type Flat
Building
Sewer Sewer Connected
Water Public
Others
Senior Community No
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
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