36th & Woodland

Lee & Associates, serving as exclusive advisor, is thrilled to introduce 36th & Woodland, a remarkable redevelopment opportunity nestled in the vibrant Fremont/Wallingford neighborhood of Seattle. This property consists of two adjacent parcels – 1103 and 1109 N 36th Street – encompassing a total of 26,000 square feet, and is being offered for sale for the first time. Current zoning of IC-65 (M) allows for several commercial uses including office, retail and industrial. There is also the potential for a zoning change to NC2-75 (M), which would allow for the development of 164 multifamily units, averaging 665 square feet, with a maximum building height of 75 feet and a FAR of 5.5. Under either zoning, the property’s placement on the highest point of the block will allow a redevelopment to have stunning views of Lake Union, downtown Seattle and Mount Rainier.
In addition to the long-term land value, the existing buildings are currently 95% leased to Napa Auto Parts and Proliance Surgeons, offering solid in-place cash flow.