CROWN HILL DEVELOPMENT SITE · 2018. 6. 26. · 600 University Street Suite 2018 Seattle WA 98101 1...

1600 University Street | Suite 2018 | Seattle, WA 98101P 206.623.8880 | E [email protected] | ParagonREA.com

Offering Memorandum

CROWN HILL DEVELOPMENT SITE

9202 Mary Ave NW and 9203 14th Ave NW Seattle, WA

Exclusively offered by Paragon Real Estate Advisors


Offering Summary

Name Crown Hill Development Site

Address 9202 Mary Ave NW, Seattle WA 9203 14th Ave NW,Seattle WA

Parcel Numbers 186240-0096 186240-0100

Lot Size 17,610 Square Feet

Zoning SF5000 to LR1

Price $3,000,000

Price Per Foot $170.30

Current Use 2 Single Family Residences

Paragon Real Estate Advisors is pleased to exclusively offer for sale the Crown Hill Development Site. This two parcel, 17,610 square foot assemblage, offers a developer the potential to build approximately 15 townhouses in a highly desirable location.

The site is located roughly 6 miles north of Downtown Seattle in Crown Hill, a quiet residential neighborhood featuring an abundance of amenities from grocery stores and coffee shops, to excellent parks and public schools, including nearby Carkeek Park, and convenient highway and transit connections. It is only a short drive or bus ride to Ballard, Greenwood/Phinney Ridge, or Northgate offering countless numbers of shops, restaurants, and bars.



Investment Highlights

Flat easily buildable lot

6 miles to Downtown Seattle

Quiet residential neighborhood

Abundance of amenities

“Very Walkable”

Nearby parks and public schools

Convenient highway and transit connections

2 miles to Ballard

1.5 miles to Greenwood

3 miles to Northgate Mall


Neighborhood Map


PUGET SOUND

BALLARD

FREMONT

QUEEN ANNE

SEATTLE CBD

GREENWOOD

GREENLAKE

CROWN HILL

PHINNEY RIDGE


Location Highlights

Amenity rich area

Walking distance to restaurants, grocery stores, and coffee shops

Nearby retailers include Dick’s Drive-In, Pagliacci Pizza, Chuck’s Hop Shop, Starbucks, Grocery Outlet, Safeway, QFC, Fred Meyer, Value Village, Bank of America, Walgreens, Wells Fargo

Across the street from Crown Hill Park

1 mile to Carkeek Park

Nearby North Beach Elementary and Whitman Middle Schools

Metro Rapid Ride D Line provides frequent transit service to Ballard and Downtown


Crown Hill

Crown Hill is a uniquely located, convenient and gorgeous neighborhood occupying the northern sector of the Seattle Area. It is a neighborhood full of character--walkable, amenity rich and scenic, providing all the comforts of suburban living with the conveniences of city life.

Crown Hill boasts a unique history and character derived from the cemetery that used to dominate the area, and then World War II, which brought a huge influx of people to the area. The architecture of the houses reflects the era, and you’ll find many single-level brick houses with nice front lawns. Another period of growth happened in the 1980s and 90s, bringing about the construction of many apartments, condos, and townhouses.

The charming neighborhood is filled with a personable, easy growing crowd and highly desirable real estate. Located nearby is NW Market Street where residents can stroll down the street to find an assortment of grocery stores, restaurants, coffee shops, breweries, and parks. Venturing down towards the waterfront you will witness the beauty of the Puget Sound at Golden Gardens Beach overlooking Shilshole Bay. The waterfront is a display of the neighborhoods historic connection to the fishing industry.


Neighborhood Amenities - Crown Hill

1 The Thirsty Fish2 Dick’s Drive In3 Turtle Coffee4 Subway5 Gourmet Latte6 Pizza Hut7 Wild Mountain Cafe8 Kasbah Moroccan Restaurant9 Taki’s Mad Greek10 Thai Siam11 The Original Pancake House12 Petco13 Bank of America14 Rocket Dog Care15 Value Village16 Elements Massage17 Grocery Outlet Bargain Market18 Safeway19 Swanson’s Nursery20 Ballard Pool21 Woodland Theatre22 Goodwill23 Woodland Park24 Salmon Bay Park25 Crown Hill Park26 North Beach Park

2122

19

23

25

10

2

4

16

7

5

6

8

9

12

13

14

15

17

1

18

Food/DrinkShopping/ServicesParks/Schools

26

11

20

24

3



Neighborhood Amenities - Local Schools

1 Crown Hill Preschool2 Small Faces Child Development Center3 Crown Hill Co-Op Preschool4 North Beach Elementary School5 Whittier Elementary School6 Greenwood Elementary School7 West Woodland Elementary School8 Viewlands Elementary School9 Loyal Heights Elementary School10 Whitman Middle School11 Ballard High School12 Seattle Music School13 ARC School of Ballet14 Universal Kempo Karate Schools15 Oom Yung Doe - Ballard

10

24

5

8

9

12

7

13

14

15

Pre/Elementary MiddleHighSpecialty

6

11

1

3



Crown Hill Snapshot

Population 51,163

Male Female

48% 52%

Single Married

45% 55%

Median Household Income $102,826

Owner Occupied Renters

69% 31%

Average Home Price $705,700

TOP JOB SECTORS: *

Management: 15.4% Business 8.1% Computer: 12.5% Engineering 5.8% Sales: 13.8%

Arts & Entertainment: 8.4% Healthcare: 2.2% Transportation: 2.3% Construction: 4.9% Production: 2.3%

* http://www.city-data.com/neighborhood/Ballard-Seattle-WA.html


Employment

> Adobe

> Alaska Airlines

> Amazon

> Apple

> AT&T Wireless

> Boeing

> Costco

> Expedia, Inc.

> Expeditors International

> F5 Networks

> Facebook

> Fred Hutchinson

> Gates Foundation

> Getty Images

> Google

> Microsoft

> Nintendo

> Nordstrom

> Paccar

> RealNetworks

> REI

> Russell Investments

> SpaceX

> Starbucks

> Symetra Financial

> Tableau Software

> T-Mobile

> Twitter

> Uber

> University of Washington

> Virginia Mason

> Weyerhaeuser

> Zillow

> Zulilly

Greater Seattle excels at the industries of the future - the region is a center of innovation and features some of the world’s top global brands. Our aerospace industry is one of the largest in the world, home to Boeing Commercial Airplanes and over 800 aerospace firms that employ 17% of all aerospace workers in the United States. Greater Seattle is also a leading center for information and communications technology, bolstered by industry pioneers such as Microsoft and Amazon. As a result, our region has emerged as a world leader in cloud computing and data visualization, and ranks 4th as a global startup hub ahead of New York and Boston.

Silicon CanalKirkland

Seattle CBD

Canyon Park

Northpointe Campus


Employment Outlook

The Seattle metro area is currently characterized by positive job growth, with a 2.9% gain in employment, which represents an increase of 43,000 new jobs. Downtown Seattle ranks 12th among the 231 major employment markets in the U.S. for job density, and that ranking is expected to rise.

In February 2015, the unemployment rate in Seattle, hit the “ideal” rate of 4.4%. Economists consider anything under 5% full employment. Employment at software publishers is up 4 percent from a year ago, edging out a 3.4 percent gain at hospitals. A main beneficiary is the retail sector, with year-over-year job growth of 5 percent.

In nearby South Lake Union, Amazon’s new 3.3 million square foot headquarters is currently under construction. The project is estimated to bring an additional 23,000 Amazon employees to the area, bringing Amazon’s total employment near 50,000. Amazon is expected to occupy a total of 10 million square feet of office space by 2019. Other top area employers include F5 Networks, Zulily and the Bill and Melinda Gates Foundation which are all centrally located in the CBD.


Site Photo


Site Photos


Paragon Real Estate Advisors

ABOUT PARAGON Paragon Real Estate Advisors is the leading Seattle real estate investment firm for multi-family property sales in Washington State. We have accrued over $3.4 billion in sales and have closed over 1,700 successful real estate transactions. We are locally owned, client-focused and highly experienced. When it comes to apartments and investment real estate in the Puget Sound region, we are the smart choice to partner with. At Paragon, we build long-term partnerships that help our clients reach their long- and short-term real estate investment goals while maintaining maximum profitability for them. Our brokers have an in-depth knowledge of the Washington state real estate market, particularly in the greater Seattle area and the I-5 corridor, that comes from more than 23 years’ experience in the industry. Paragon’s unique focus on sharing knowledge, teamwork and collaboration within the brokerage industry leverages our collective intellect for all our clients. Our brokers provide superior customer representation through our innovative and effective marketing campaigns, co-brokerage, skilled negotiations, and ongoing partnerships.

The information found in this offering memorandum has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies.

CROWN HILL DEVELOPMENT SITE · 2018. 6. 26. · 600 University Street Suite 2018 Seattle WA 98101 1...

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