5803 15th ave nw€¦ · the ballard dental arts building is a 100% leased, 4,500 sf dental office...

KIDDER.COMKIDDER.COM

5803 15TH AVE NW

NW 58TH ST

15TH A

VE N

W

5803 15TH AVE NWOFFERING MEMORANDUM | SEATTLE, WA

BALLARDINVESTMENT.COM

The information contained in the following Marketing Brochure is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from Kidder Mathews and should not be made available to any other person or entity without the written consent of Kidder Mathews.

This Marketing Brochure has been prepared to provide summary, unverified information to prospective purchasers, and to establish only a preliminary level of interest in the subject property. The information contained herein is not a substitute for a thorough due diligence investigation. Kidder Mathews has not made any investigation, and makes no warranty or representation, with respect to the income or expenses for the subject property, the future projected financial performance of the property, the size and square footage of the property and improvements, the presence or absence of contaminating substances, PCB’s or asbestos, the compliance with State and Federal regulations, the physical condition of the improvements thereon, or the financial condition or business prospects of any tenant, or any tenant’s plans or intentions to continue its occupancy of the subject property. The information contained in this Marketing Brochure has been obtained from sources we believe to be reliable; however, Kidder Mathews has not verified, and will not verify, any of the information contained herein, nor has Kidder Mathews conducted any investigation regarding these matters and makes no warranty or representation whatsoever regarding the accuracy or completeness of the information provided. All potential buyers must take appropriate measures to verify all of the information set forth herein.

This information has been secured from sources we believe to be reliable. We make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Recipient of this report must verify the information and bears all risk for any inaccuracies.

01EXECUTIVE SUMMARY

02PROPERTY DETAILS

03LOCATION OVERVIEW

KIDDER.COM

JASON ROSAUER

[email protected]

EXCLUSIVELY LISTED BY

ROB ANDERSON

[email protected]

KRISTYN KRUEGER

[email protected]

TABLE OF CONTENTS

35803 15TH AVE NW OFFERING MEMORANDUM KIDDER MATHEWS

01EXECUTIVE

SUMMARY

Kidder Mathews has been retained to exclusively market the Ballard Dental Arts Building off 15th Ave NW northwest just blocks north of NW Market St in the heart of Seattle’s dynamic Ballard submarket.

THE OFFERING

The Ballard Dental Arts Building is a 100% leased, 4,500 SF dental office building on a 10,000 SF lot with outstanding visibility and an abundance of surface parking. This single-tenant investment offering provides long-term income in a fast-growing submarket.

Ballard is located just north of Queen Anne, connected to downtown via 15th Ave through Interbay and Expedia’s new home, and just west of Fremont. Large,

EXECUTIVE SUMMARY

well-paying employers like Google, Tableau, and now Expedia are within a few miles from Ballard, causing thousands of millennials and long-time Seattleites alike to relocate to Ballard in this most recent cycle. Over 2,280 new residential units have come to the area in the past five years as the submarket has ballooned to a population of over 24,000 estimated residents. In addition to the employment and overall residential growth in and around Ballard, the area also boasts one of the highest brewpubs to resident per capita in the country. This area won’t see a slow down in demand or activity any time soon.

The Ballard Dental Arts Building is a unique opportunity for an investor to acquire an extremely well-constructed, stable cash-flowing building in an area with consistently rising land values due to the lack of available opportunity. This offering is well-positioned for a long-term

100% LEASED to strong, stable tenant for long term

ANNUAL RENTAL GROWTH increases return over the length of the hold

APPROXIMATELY $500K in recent building improvements minimize any capital reserve requirements

PRICED BELOW current nearby land values near the heart of one of Seattle’s strongest submarkets

ABUNDANT PARKING and outstanding visibility are extremely beneficial to current tenant’s requirements

EXCELLENT demographics and growing submarket with strong, local employers located nearby

OFFERING HIGHLIGHTS

investor to collect stable, bond-like cash flows for the next 12 years while the underlying land values continue to climb.

OFFERING PROCESS

This property is available for sale at $4,050,000.

The ownership will review offers as received though reserves the right to set a definitive bid date.

5803 15TH AVE NW OFFERING MEMORANDUM KIDDER MATHEWS 4


02PROPERTY

DETAILS

5803 15TH AVE NW

NW 58TH ST

PROPERTY DETAILS

Property Address 5803 15th Ave NW

King County Parcel Number 2767604530

Structure Type / Stories 1 Dental Office Building | 1 Story

Years Built/Renovated 1963 / 2016

Net Rentable Area 4,527 SF

Site Area 10,000 SF

Zone NC3-55’(M)

Parking Type Surface

Total Parking 17 stalls (3.55:1,000 SF)

BUILDING DETAILS

Construction Type Single-Story Wood Frame with Brick Veneer and Siding

Interior Walls / Ceilings

Walls Are Painted Gypsum Wallboard or Wood PanelingCeilings Are Painted Drywall or Acoustical Panels

Windows Single-Pane

HVAC Forced Warm Air for Heating & Cooling

Plumbing/Bathrooms 2 Restrooms

Interior Layout

Reception Area With Restrooms10 Total Operation Stations A Sterilization RoomTech Station & LabSeveral Private Offices


AERIAL

5803 15TH AVE NW

DOWNTOWN BALLARD

MAGNOLIA

NW 5

8TH ST

15TH AVE NW

SHIP CANAL BALLARD LOCKS


APARTMENT BUILDING OFFERING MEMORANDUM KIDDER MATHEWS 8

INTERIOR


LAND TITLE SURVEY


FLOOR PLAN



03LOCATION

OVERVIEW

LOCATION OVERVIEWLocated in Northwest Seattle, the Ballard neighborhood is one of Seattle’s highly populated and fastest growing submarkets in the region with immediate access to a robust residential, commercial and industrial community.

Known for its Scandinavian heritage, Ballard is rich in history and traditions being home to the

Nordic Museum, which celebrates both the community of Ballard and the local Scandinavian history, as well as several other landmarks including Ballard Locks, Shilshole Bay Marina, and Golden Gardens Park. Ballard includes a collection of six smaller neighborhoods (Sunset Hill, Loyal Heights, Whitter Heights, West Woodland, Crown Hill, North Beach/Blue Ridge) and is nestled against Shilshole Bay to the west

70 TOTAL PROJECTS

4.2M SF NEW DEVELOPMENT

4,520 NEW RESIDENTIAL UNITS

430K SF NEW OFFICE SPACE

316K SF NEW RETAIL SPACE

Ballard Development Pipeline Within 1-Mile Radius

and Salmon Bay to the south. Ballard has evolved to embrace its industrial nature with a modern twist by becoming one of Seattle’s most prominent restaurant, nightlife, and brewery scenes attracting significant foot traffic throughout the day. With downtown Seattle less than fifteen minutes away, this immediate area will continue to absorb the influx and growth the greater region continues to experience.


5803 15TH AVE NW

3 MILES

1 MILE

1/2 MILE

PUGET SOUND

SLU

WALLINGFORD

SUNSET HILL

NORTHGATE

BROADVIEW

FREMONT

BALLARD

GREENWOOD

MAPLE LEAF

QUEEN ANNE

CAPITOL HILL

MAGNOLIA

GREEN LAKE

LAKE UNION

DEMOGRAPHICS

POPULATION

0.5 Mile 1 Mile 3 Mile

2019 Total Population 15,524 37,626 218,890

2024 Est. Population 16,428 39,882 232,224

Annual Population Growth 3.8% 2.6% 2.1%

Median Age (2019) 38.2 47.3 49.2

HOUSEHOLD

0.5 Mile 1 Mile 3 Mile

2019 Total Households 8,970 19,512 106,450

2024 Est. Households 9,592 20,865 114,188

HH Growth 2019-2024 1.4% 1.4% 1.5%

Median Household Income $94,585 $101,241 $106,103

Average Household Size 1.7 1.9 2.0

SEATTLE5803 15TH AVE NW OFFERING MEMORANDUM KIDDER MATHEWS 13

AIR

PO

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WA

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LAKE WASHINGTON

TRANSIT KEY

Bus Route E

Bus Route #40

Bus Route #44

Bus Route #62

Bus Route D

Light RailGREEN LAKE

BALLARD

TANGLETOWN

MAGNOLIA

QUEEN ANNE

LAKE UNION

WALLINGFORDFREMONT

NW 65TH ST

N 50TH ST

NW 80TH ST

NW 85TH ST

NW 65TH ST

NW MARKET ST

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WA

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N 40TH ST

GREEN

LA

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LEAR

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NW

WESTLA

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FAIR

VIE

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W NICKERSON ST

GILIM

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QUEEN ANNE DR

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5803 15TH AVE NW

9 STATIONS

2025 GROUNDBREAKING

2035 EXPECTED COMPLETION DATE

7.1 MI OF LIGHT RAIL STATION

94 WALK SCORE

94 BIKE SCORE

54 TRANSIT SCORE

BA

LL

AR

D B

RID

GE

Future Ballard Light Rail


15TH & MARKET

5803 15TH AVE NW

SEATTLE CBD

QUEEN ANNEFREMONT

BALLARD BRIDGE

NW 58TH ST15TH

AV

E NW


KIDDER.COM

EXCLUSIVELY REPRESENTED BY

JASON ROSAUER

[email protected]

ROB ANDERSON

[email protected]

KRISTYN KRUEGER

[email protected]

5803 15th ave nw€¦ · the ballard dental arts building is a 100% leased, 4,500 sf dental office...

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