Belltown 14 Story Development Site

2616 Western Avenue Seattle, WA 98121

2616 Western Avenue , Seattle, WA, 98121
Close to Seattle Core
2616 Western Avenue , Seattle, WA, 98121
Property Type:
Multifamily Land
Please Call Broker for Price

Last Verified:
Sep 27, 2018


  • Seattle Urban Core Development Opportunity
  • Zoned DMR/C 145/75
  • 14 Story Development Site
  • Potential for Up to 100 Units (557 SF Avg.) with 2,500 SF of Commercial Space
  • Initial Massing Study Indicates Up to 86,900+/- Gross Building SF
  • Currently Occupied With Cash Flow
  • 180 Day Termination Clause for Sale or Redevelopment
  • Tenant Responsible for All Maintenance Including Roof Surface
  • Puget Sound and Downtown Views From Top Floors
  • Great location in the vicinity of dense retail, residential and office projects
  • 97 Walk Score | 100 Transit Score


CORE Commercial Properties is pleased to present a 7,200 SF development parcel for sale in the Belltown neighborhood. There is a two-story, lot-line, industrial building currently occupied by a single tenant on the property. Initial massing study indicates a potential 14 story, 100 unit mixed use project. The current tenant's lease provides for termination with 180 days prior notice for proposed redevelopment or a pending sale.

This property is situated on Western Avenue between Cedar and Vine, with a significant amount of residential and office projects nearby. The property is in the bustling neighborhood of Belltown. Nearby parks include Olympic Sculpture Park, Regrade Park, South Fountain Lawn, Seattle Center and the future Waterfront Park. This area is experiencing a huge surge in population and employment growth.

Year Built: 1947
Building Size: 14400.0sq ft
Lot Size: 0.17 acres

Map of 2616 Western Avenue , Seattle, WA, 98121

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What are Real Estate Incentives?

Real Estate incentives range widely and have been overlooked by the Commercial Multiple Listing Services (MLS) for decades. Real estate incentives is a generic term used to group any number of programs, such as tax incentives, that are designated by an agency for a geographic area."

Why are Real Estate Incentives Important and to Whom?

"Incentives" are vital today and in the future because:

  • U.S. Public: Many incentives focus on job creation and Affordable Housing
  • Investors and Commercial Developers use incentives to reduce financial risk, obtain gap financing, etc. Investors and developers look for property listings with incentives available.
  • Commercial Real Estate Brokers, in mass, unfortunately do not know about incentives tied to their listings
  • Entire Supply Chain of Real Estate Development such as small and large companies who will provide goods and services to new and revitalized properties.