Overview

Ballard Avenue Portfolio Website

Highlights

• Significant cash flow: $1.89M in Year One NOI ($1.70M in 2023)
• Diverse and stable rent roll: No single tenant leases more than 12% of the office space
• Boutique brick-and-beam space caters to tech and creative tenants, as well as wellness practitioners and professional services
• High-quality historic assets that have been seismically upgraded with an active 10-year property tax abatement for renovations
• Prime location in the heart of the Ballard Avenue Landmark District
• Portfolio houses eight vibrant and prominent retail/restaurant businesses, on the same block as Ballard Farmers Market
• Small private offices achieve rent premiums and outperform the general office market

Description

This is a unique opportunity to acquire an unparalleled collection of mixed-use buildings in the heart of Seattle’s Ballard neighborhood. The offering includes four impeccably maintained buildings on three parcels, with a total of 60,017 rentable square feet (BOMA 2017 Standard) of premium small private offices and ground-level retail and restaurants. This is a rare chance to acquire scale on one of the most desirable commercial blocks in Seattle.

Location

Ballard is a cultural and commercial hotbed, that has evolved into a desired location for technology and creative companies, while maintaining its Scandinavian and maritime roots. Historically Ballard is the center of Seattle’s early immigration, marine/fishing opportunities and much of its architecture dates back to pre-European settlement up through the 1980s. The vitality of Seattle’s waterways and salmon runs have always been important, and they are now maintained by the Hiram M. Chittenden Locks (aka Ballard Locks) and adjacent salmon ladder. The Locks is one of the top tourist destinations in Seattle.

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