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16325 5th Avenue NE
Shoreline, WA

Land

»  2.60 acres/ 113,256 sqft, east of I-5

»  Zoning allows residential up to 65'

»  Retail on first level, in the front 50%, with perhaps parking in the back, and

»  Underground parking possible in addition to surface

»  Currently modeled for 120 residential units (condo or apt)

»  Broker believes the residential portion is ad valorem tax exempt for ten years

»  City will consider up to 200 units using Form-Based Code, or with open space/ park

»  $5,100,000 ($45.03/ ft²)

»  Easy access to I-5, and the City is considering upgrading this intersection

This prime tract has been extensively studied by the City of Shoreline using the Charrette Visioning process, engaging the Community, the University of Washington School of Architecture and Land Use Design, and others.  The result is five different proposed building layouts, in general retail & commercial in the first floor (maybe organic grocery store, restaurant, bookstore) and five stories of residential.  3D models are on display at the Shoreline Historical Museum (schoolroom).

This tract is 750' east of I-5, in a desirable area of Shoreline. Demographic analysis suggests that aging seniors who now own homes in the area will soon wish to sell their homes and move into a condo in the same neighborhood.  In the whole City of Shoreline, 800-1,000 new apartments have been proposed, but 40% of those aren't even in planning stages yet.  I can provide Buxton demographics on request.

Please contact us for a Bid Package.


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