1521-1523 3rd Ave
Seattle, WA 98101 Downtown Seattle

• Unit Size: 9,233 SF
• Condo Use: Retail
• Price: $2,300,000 USD
• Sale Type: Investment or Owner User
• Price/SF: $249.11 USD

Description

9,233-SF OWNER/USER RETAIL COMMERCIAL CONDO WITH STABLE RENTAL INCOME IN PRIME DOWNTOWN SEATTLE - Priced To Sell
Two Suites with Ceiling Height of 18', in-suite bathrooms:
- Suite # 1521: 6,867 SF (3,230 SF first floor + 3,637 SF fully functional mezzanine) - to vacate at closing.
- Suite # 1523: 2,367 SF, leased. Stable income $8,235/mo. NNN with 3% annual escalations. Lease expires 9/2030, plus two 5-year renewal options.

Steps from Pike Place Market (20M+ annual visitors) and the newly transformed waterfront.

High traffic and high exposure on Pike –Pine Corridor.

Unparallel access to transit: several bus routes and adjacent to the Westlake light rail station.

Major employers within a few blocks.

Seattle ranks 3rd in the US for AI-sector growth

Owner-user upside: occupy one suite, lease the other

Owner/User or Value add investment

Highly flexible permitted uses: zoning designation DRC 85-170 allows for a wide range of permitted uses, including retail, grocery stores, restaurants, cafes, health club facilities, event venues, pharmacies, medical and dental practices, offices.

The Fischer Studio Building is a designated Seattle Historic Landmark. Potential tax incentive due to Historic designation.

Sale Notes

Exceptional opportunity to acquire a 9,233-SF, high-foot-traffic retail commercial condominium within the mixed-use, historic landmark Fischer Studio Building in the Pike-Pine Corridor. Located in a dynamic and hyperconnected environment, it is offered at a competitive price.

The property's strategic location ensures accessibility and exposure for a thriving business: it is within walking distance of Pike Place Market and the newly transformed waterfront.

It offers unparalleled access to transit, sitting adjacent to the Westlake light rail station, and is surrounded by a high concentration of major employers, entertainment, shopping, flagship stores, hotels and restaurants — the convergence point of Seattle's retail, cultural, and corporate sectors.

The area is also home to unrivaled AI and tech proximity; Seattle ranks 3rd in the U.S. for AI sector growth.

Within a few blocks, major employers include Uber, Zillow, Nordstorm, Oracle, Qualtrics, DocuSign, Deloitte & Perkins Cole.