215 Meriweather St #2
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215 Meriweather St #2
2,053 SF Retail Building Pacific Beach, WA 98571 $1,100,000 ($536/SF) 5% Cap Rate
Investment Highlights
- Prime retail location with the highest foot traffic, neighbors include Vista Bakery, Sweet Life Ice-cream, Frontager's Pizza and Fresh Foods Market
- Seabrook is poised for explosive growth and home sales - boom town
- Option to Convert upstairs into Live/Work residential unit/Vacation rental
Executive Summary
This is a rare investment or owner-user opportunity in Seabrook, a luxurious Northwest vacation destination and beach town located on the rugged Washington Coast overlooking the Pacific Ocean.
The Salty Dog building is in the center of Seabrook's Town Center/Retail district on Meriweather Street. It was designed to house the oldest operating business in Seabrook, a high-end pet boutique. The ample 1,703 sq. ft. retail space boasts 18-ft. ceilings, polished concrete floors, and a mezzanine. The storefront is suitable for one or two retail concepts. This year, the seller secured permission to convert the upstairs into a residential unit for up to 2bd to add to a vacation rental program, making it Live/Work unit an option.
Additional Business Opportunity: The Salty Dog, the town's only pet store, is also available. This established and beloved business complements the property and provides an immediate revenue stream for entrepreneurial buyers. Investment Potential: Whether you continue operating the space as a thriving retail hub or convert it into a living space, this property offers unmatched potential in the New Urbanist community of Seabrook.
The Salty Dog building is in the center of Seabrook's Town Center/Retail district on Meriweather Street. It was designed to house the oldest operating business in Seabrook, a high-end pet boutique. The ample 1,703 sq. ft. retail space boasts 18-ft. ceilings, polished concrete floors, and a mezzanine. The storefront is suitable for one or two retail concepts. This year, the seller secured permission to convert the upstairs into a residential unit for up to 2bd to add to a vacation rental program, making it Live/Work unit an option.
Additional Business Opportunity: The Salty Dog, the town's only pet store, is also available. This established and beloved business complements the property and provides an immediate revenue stream for entrepreneurial buyers. Investment Potential: Whether you continue operating the space as a thriving retail hub or convert it into a living space, this property offers unmatched potential in the New Urbanist community of Seabrook.
Property Facts
Sale Type
Investment or Owner User
Property Type
Retail
Property Subtype
Building Size
2,053 SF
Building Class
B
Year Built
2015
Price
$1,100,000
Price Per SF
$536
Cap Rate
5%
NOI
$55,000
Tenancy
Single
Building Height
2 Stories
Building FAR
1.18
Lot Size
0.04 AC
Opportunity Zone
Yes
Zoning
Mixed/ Town Center - Located in Seabrook Town Center, where commercial/retail use is allowed at the ground floor and residential/ hospitality on second story.
Parking
3 Spaces (1.46 Spaces per 1,000 SF Leased)
Frontage
20 FT on Meriweather Street
Amenities
- Corner Lot
- Mezzanine
- Signage
- Wheelchair Accessible
- Smoke Detector
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215 Meriweather St #2
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