CENTRAL BALLARD
Transcript of CENTRAL BALLARD
TRAVIS KANNIER
BROKER | PRINCIPAL
P: 206.505.9428
CENTRAL BALLARD 2030 NW 57TH ST | SEATTLE, WA 98107
WESTLAKE ASSOCIATES | 2
Investment Highlights
HIGHLIGHTS
• Redevelopment Opportunity
• Neighboring property is listed For Sale with same MR-RC (M) Zoning / 5,000 Lot SF
• The assemblage potential is 10,000 Lot SF / approx. 45,000 Buildable SF
• FAR 4.5
• Located Within Urban Village
• Income Producing Asset
• Walk Score : 97 -- Walker’s Paradise
• Bike Score: 84 -- Very Bikeable
• Short Walking Distance to Restaurants, Bars, and Parks
• Heart of Ballard Retail and Ballard Farmers Market
• Strong Rental History
• Easy Access to 15th Avenue NW & Main Arterial Bus Lines
5,000
$340
$1,700,000LIST PRICE
LOT SF
PER LOT SF
Property Details
PROPERTY DETAILS
BUILDING INFORMATION
County
Market
Land Use
Style
APN#
Zoning
Urban Village
FAR
King
Ballard
Residential
Single Family
#276760-4935
MR RC (M)
Yes
4.5
Address
Year Built
# of Floors
Lot Size
Building Size
Construction
Heat
Parking
2030 NW 57th St
Seattle, WA 98107
1918
1
5,000 SF
830 SF
Wood
Electric BB
Detached Garage
WESTLAKE ASSOCIATES | 4
Location
22
ND
AV
E NW
20
TH A
VE N
W
NW 56TH ST
NW MARKET ST
NW 57TH ST
NW 58TH ST
2030 NW 57TH ST 2030 NW 57TH ST
WESTLAKE ASSOCIATES | 5
Sales Comparables304 11th Ave ESeattle, WA 98102
1415 Belmont Ave Seattle, WA 98122
4112 Stone Way NSeattle, WA 98105
SALE COMPARABLE
SALE DATE 01/11/2021
PRICE $1,700,000
LOT SIZE 4,901 SF
PRICE SF $346
ZONING MR (M1)
SALE COMPARABLE
SALE DATE 01/11/2019
PRICE $1,880,000
LOT SIZE 5,001 SF
PRICE SF $375
ZONING MR (M)
SALE COMPARABLE
SALE DATE 07/14/2020
PRICE $2,020,000
LOT SIZE 5,314 SF
PRICE SF $380
ZONING NC2P-55
818 NE 42nd StSeattle, WA 98105
5200 17th Ave NWSeattle, WA 98107
SALE COMPARABLE
SALE DATE 12/27/2019
PRICE $1,940,000
LOT SIZE 4,918 SF
PRICE SF $394
ZONING MR (M1)
SALE COMPARABLE
SALE DATE 05/17/2021
PRICE $1,998,400
LOT SIZE 5,000 SF
PRICE SF $399
ZONING MR (M1)
WESTLAKE ASSOCIATES | 6
Sales Comparable Summary | Single-Family
SALE COMPS PRICE LOT SF PRICE / SF ZONING CLOSED
SUBJECT PROPERTY2030 NW 57th St
$1,700,000 5,000 SF $340 MR RC (M)
01304 11TH AVE E Seattle, WA
$1,700,000 4,901 $346 MR (M1) 01/11/2021
021415 BELMONT AVE Seattle, WA
$1,880,000 5,001 $375 MR (M) 01/11/2019
03818 NE 42ND STSeattle, WA
$1,940,000 4,981 $394 MR (M1) 12/27/2019
044112 STONE WAY NSeattle, WA
$2,020,000 5,314 $380 NC2P-55 07/14/2020
055200 17TH Ave NW Seattle, WA
$1,998,400 5,000 $399 MR (M1) 05/17/2021
AVERAGES $1,907,680 5,027 SF $378
WESTLAKE ASSOCIATES | 7
Sales Comparable Summary Map
2030 NW 57TH ST
02
03
05
01
04
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Ballard Neighborhood & Amenities
POPULATION 1-MILE 3-MILE 5-MILE
Total Population 38,455 179,963 438,079
Growth 2021 - 2026 (est.) 9.34% 6.89% 7.94%
Median Age 38.2 37.7 36.2
HOUSEHOLDS & INCOME 1-MILE 3-MILE 5-MILE
Total Households 19,355 82,704 211,834
Average HH Income $127,437 $129,942 $127,237
Renter Occupied Housing 56.8% 48.3% 59.4%
97Walker’s Paradise
84Very Bikeable
6 MILES Downtown Seattle
WHAT’S NEARBY
QFCJoANN Fabrics & CraftsTop BananaFedEx Office
Ballard Commons ParkBallard Branch LibraryBallard Community CenterAdams ElementaryNordic Museum
Cafe BesaluKimchi HouseSalt & Sugar Cafe & BakeryScooter’s Burgers StarbucksVerve Bowls Cupcake Royale Gather Kitchen & BarThe Boar’s NestMr. Gyros Ballard Coffee WorksHot Cakes 8oz. Burger & CoKangaroo & KiwiLi’l Woody’sBallard Beer CompanyThe Matador Sunset TavernSalt & Straw Ballard Annex Oyster HouseOchoHotel Albatross
© COSTAR REALTY INFORMATION, INC. 2021
WESTLAKE ASSOCIATES | 9
Ballard
BALLARD is a neighborhood located in the northwestern part of Seattle. It is most commonly identified with the strong Scandinavian heritage that was brought to the area in the 1800’s. Once home to immigrants from five Scandinavian countries, Ballard’s history is steeped in the cultural traditions of Denmark, Finland, Iceland, Norway and Sweden.
Ballard is home to the Nordic Heritage Museum, which celebrates both the community of Ballard and the local Scandinavian history. Scandinavians unite in organizations such as the Sons of Norway Leif Ericson Lodge and the Norwegian Ladies Chorus of Seattle. Today, the tradition continues with Ballard’s annual 17th of May festival, celebrating Syttende Mai (Norway’s constitution Day). The festival features a parade with drill teams, clowns and much more.
Shilsole Bay, along the western shores of Ballard, offers calm waters for sailboats and lots of summer fun. Lines of restaurants make this waterfront an active place in the warmer months, with beautiful orange and purple sunsets, and an amazing view of the Olympic Mountains.
Along the south end of Ballard are the Hiram M. Chittenden Locks, known locally as the “Ballard Locks”. The Locks lead from Puget Sound to Lake Union and eventually to Lake Washington. These waters are home to the largest salmon and halibut fleets in the nation.
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Sound Transit | Ballard Transportation Ballard Link Extensions will provide fast, reliable light rail connections to dense residential and job centers throughout the region. In addition, a new downtown Seattle light rail tunnel will provide capacity for the entire regional system to operate efficiently. These two separate Link extensions are part of the regional transit system expansion approved by voters in November 2016. Proposed completion is estimated for 2037-2039.
Ballard to Downtown Seattle
Adds 7.1 miles of light rail service from downtown Seattle to Ballard, including a new downtown Seattle rail-only tunnel.
Includes 9 new stations between Chinatown-International District and Market Street.
Route 15 travels from Downtown Seattle, Seattle Center, Ballard, Crown Hill and Blue Ridge.
Route 17 travels from Downtown, Seattle Center, Ballard, Sunset Hill and Loyal Heights.
Route 18 travels from Downtown Seattle, Seattle Center, Ballard and North Beach.
Route 40 travels from Downtown Seattle, Fremont, Ballard, Crown Hill and Northgate.
Route 44 travels from the UW Station, University District, Wallingford and through Ballard.
The RapidRide D Line travels from Downtown Seattle, Uptown, Interbay, Ballard and Crown Hill.
Bus Stops for Routes 15, 17, & 18
Bus Stops for Routes 40, 44 & D Line
About WestlakeSince 1975, Westlake Associates, Inc. has been the premier provider of commercial real estate brokerage services in the Puget Sound Region.
Our unsurpassed commitment to creating and preserving our clients’ real estate investment wealth has resulted in thousands of successful transactions and a long history of repeat business and client referrals.
The professionals at Westlake Associates collaboratively work with clients to develop customized, creative solutions designed to maximize investment returns.
We’ve built a strong foundation of experience in Investment Property Sales, Commercial Leasing, Property Management, and comprehensive real estate services over our 40 year history. We operate as a team and leverage each other’s resources and experience to provide the highest level of client services.
PROUD MEMBERS OF:
Commercial Brokers Association (CBA)
Northwest Multiple Listing Services (NWMLS)
LoopNet National Listing Services
CoStar Commercial Real Estate Data & National Listing
Commercial Investment Real Estate (CREI)
Washington State Realtors Association (WSMA)
EXCLUSIVELY LISTED BY:
TRAVIS KANNIER
BROKER | PRINCIPAL
P: 206.505.9428
1200 Westlake Avenue N, Suite 310Seattle, Washington 98109
©2021 WESTLAKE ASSOCIATES, INC.
DISCLAIMER: This information has been secured from sources we believe to be reliable, but we make no representa-tions or warranties, expressed or implied, as to the accuracy of the information. References to square footage, age, and numbers are approximate. Parties must verify the information and bear all risk for any inaccuracies.