2000 Union StSeattle, WA 98122

Property Details for 2000 Union St

Year built

1908

Property size (Sq ft)

7,000 SF

Property type

Mixed-use properties

Property subtype

Other office properties

Description

This exceptional mixed-use building, located at 2000 E Union St in Seattle's vibrant East Union Retail District, presents a compelling value-add investment opportunity. Built in 1908 and extensively renovated in 2021, this two-story structure boasts 7,000 square feet of total space, with 6,920 square feet of net rentable area. Currently housing eight tenants across multiple units, the property generates a strong net operating income (NOI) of $211,000, resulting in an attractive 6.03% capitalization rate. The asking price is $3,500,000. The building sits on a 4,336 square foot lot and is zoned NC2P-40 (M). Its creative office subtype caters to a diverse range of businesses, while the building's historic character adds significant charm and appeal. The property offers potential for further value enhancement through the renovation of four large residential units on the second floor, presenting a unique opportunity to increase income streams and overall property value. This prime location in the heart of the East Union Retail District ensures high visibility and accessibility, making it an ideal investment for discerning buyers seeking a blend of historical character and modern functionality. The property's strong financial performance and significant upside potential make it a truly remarkable opportunity in the competitive Seattle market.

Location Insight

City

Seattle

County

King

State

Washington

Latitude

47.6131

Longitude

-122.306

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?

Please email our support team at [email protected] and they will add the team member.

How do I access a private listing?

Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.

How can I contact the broker?

We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.

How do I unsubscribe from emails?

At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].