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Kress Bldg 2221 NW 56th St
15,478 SF 92% Leased Retail Building Seattle, WA 98107 $5,850,000 ($378/SF)
Investment Highlights
- Ballard Market Street Add-Value for Sale
Executive Summary
Pivot from redevelopment or consider this great value-add
mixed-use Ballard building as a 1031 option. The Kress
Building presents a chance to acquire a high-quality asset on
Market Street, featuring a combination of retail, office, and
creative spaces. all ideally suited for this particular
submarket. The seller's ongoing improvements has exceeded
$600k in the past year, encompassing the establishment of new
retail space on Market Street, seven micro loft office suites,
plumbing and electrical enhancements, as well as the addition
of new entrances on both northwest Market Street and northwest
56th Street. This property grants investors the ability to
self-manage while enjoying a stable income, with further
potential for value appreciation through leasing the remaining
vacancies and enhancing the aesthetic appeal of shared areas.
Property Facts
Amenities
- Bus Line
- Signage
Space Availability
- Space
- Size
- Space Use
- Position
- Available
The Kress Building is a historical mixed-use building in Ballard on Market Street that has a number of retail, small office and creative art spaces available. Suite #L-12 is a unique small basement level space space with common area access to the suite located on both the Market Street the 56th Avenue side of the property. Tenant pays monthly fixed rate utility in addition to base rent.
Ballard Basement Creative/Office Space The Kress Building is a historical mixed-use building in Ballard on Market Street that has a number of retail, small office and creative art spaces available. Suite #L-05 is a unique small basement level space space with common area access to the suite located on both the Market Street the 56th Avenue side of the property. Tenant pays monthly fixed rate utility in addition to base rent.
Complete renovation of the fmr. Bop Street Records space at the Kress Building, located directly on Market Street available delivery Summer 2023. High 20ft+ ceilings, revamped storefront, new 245 mezzanine and skylights throughout. Additional opportunity lease new micro office loft suites (x5) to create small/short term office leasing center.
- 201
- 165 SF
- Office/Retail
- -
- Now
Space | Size | Space Use | Position | Available |
L-12 | 345 SF | Retail | - | Now |
L05 | 500 SF | Office | - | Now |
2-7 | 192 SF | Office | - | Now |
201 | 165 SF | Office/Retail | - | Now |
L-12
Size |
345 SF |
Space Use |
Retail |
Position |
- |
Available |
Now |
L05
Size |
500 SF |
Space Use |
Office |
Position |
- |
Available |
Now |
2-7
Size |
192 SF |
Space Use |
Office |
Position |
- |
Available |
Now |
201
Size |
165 SF |
Space Use |
Office/Retail |
Position |
- |
Available |
Now |
L-12
Size | 345 SF |
Space Use | Retail |
Position | - |
Available | Now |
The Kress Building is a historical mixed-use building in Ballard on Market Street that has a number of retail, small office and creative art spaces available. Suite #L-12 is a unique small basement level space space with common area access to the suite located on both the Market Street the 56th Avenue side of the property. Tenant pays monthly fixed rate utility in addition to base rent.
L05
Size | 500 SF |
Space Use | Office |
Position | - |
Available | Now |
Ballard Basement Creative/Office Space The Kress Building is a historical mixed-use building in Ballard on Market Street that has a number of retail, small office and creative art spaces available. Suite #L-05 is a unique small basement level space space with common area access to the suite located on both the Market Street the 56th Avenue side of the property. Tenant pays monthly fixed rate utility in addition to base rent.
2-7
Size | 192 SF |
Space Use | Office |
Position | - |
Available | Now |
Complete renovation of the fmr. Bop Street Records space at the Kress Building, located directly on Market Street available delivery Summer 2023. High 20ft+ ceilings, revamped storefront, new 245 mezzanine and skylights throughout. Additional opportunity lease new micro office loft suites (x5) to create small/short term office leasing center.
Nearby Major Retailers
PROPERTY TAXES
Parcel Number | 276770-1030 | Improvements Assessment | $887,800 |
Land Assessment | $4,000,000 | Total Assessment | $4,887,800 |
PROPERTY TAXES
Learn More About Investing in Retail Properties
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Kress Bldg | 2221 NW 56th St
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