* CALL FOR OFFERS - 08/27/26 * Pleased to present the opportunity to acquire an absolute NNN, corporate-leased investment located in the highly desirable Queen Anne neighborhood of Seattle, Washington. The 5,960 SQFT property is leased to Columbia Bank operating more than 350 branches nationwide. The tenant… Read More has occupied the property since 2010 and recently exercised a 5-year lease extension, reinforcing its long-term commitment to this established branch location. The lease structure provides investors with truly passive ownership through zero landlord responsibilities while benefiting from 2.5% annual rent escalations, creating consistent, inflation protected income growth. Beyond its stable cash flow, the investment offers a compelling long-term land value component. Situated on a prominent hard corner in Seattle's Queen Anne neighborhood, the property is located within an urban village and is zoned NC2P-55 (M), providing future ownership with a clear path toward higher-density redevelopment of approximately five to six stories. Offered at an attractive basis relative to the underlying land value, the asset presents investors with the rare combination of dependable in-place income and meaningful future redevelopment potential. Combined with Queen Anne's affluent demographics, limited land availability, and proximity to downtown Seattle, South Lake Union, and Seattle's major employment centers. Read Less
Listing courtesy of Kidder Mathews 360-705-2800
Listing Snapshot | Source HomeJunction
Cumulative Days On Market
0
Days on Website
0
Last Updated
Property Type
Retail
Lot Size
0.29 Acres
Year Built
1941
MLS Number
2567500
30 Days Snapshot Of 98109
$1.49M
+38%
(avg) sold price
23
-8%
homes sold
66
-29%
(avg) days on market
Snapshot
Area Map
Additional Details | Source HomeJunction
Building
Building Area Total: 0, Building Area Units: Square Feet, Calculated Square Footage: 0, Elevation Units: Feet, Living Area: 0, Number Of Units Total: 0, Structure Type: Retail, Year Built: 1941, Year Built Effective: 1941
Cooling
Cooling: See Remarks
Fireplaces
Fireplaces Total: 0
Heating
Heating: See Remarks
Home Owner's Association
Association Fee: $0
Income
Net Operating Income: 209100
Lot
0 acres, 12600 square feet
Parking
Parking Total: 0
Property
Zoning Description: Retail
Sewer
Sewer: Available
Utilities
Power Production Type: See Remarks, Water Source: See Remarks
Find The Perfect Home
'VIP' Listing Search
Whenever a listing hits the market that matches your criteria you will be immediately notified.
The "three tree" icon indicates listings provided by Northwest Multiple Listing Service.
The listings presented here may or may not be listed by Wesley Lau. The Real Estate Broker providing this data believes it to be correct, but advises interested parties to confirm the data before relying on it in a purchase decision. The information being provided is for the consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the consumers may be interested in purchasing.
Based on information submitted to the MLS GRID as of . All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
The "three tree" icon indicates listings provided by Northwest Multiple Listing Service. The listings presented here may or may not be listed by Iolanthe Chan-McCarthy. The Real Estate Broker providing this data believes it to be correct, but advises interested parties to confirm the data before relying on it in a purchase decision. The information being provided is for the consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the consumers may be interested in purchasing. Listings last updated on .
Confirm your time
Fill in your details and we will contact you to confirm a time.