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4601 Shilshole Avenue North...

Updated Aug 5, 2025

Ned Carner Of Wing Point Partners Acquires 16 Acre Industrial Site In Seattle For $9.55M
SOLDIndustrial

Ned Carner Of Wing Point Partners Acquires 16 Acre Industrial Site In Seattle For $9.55M

4601 Shilshole Avenue Northwest

$9,550,000

Building Size

—

Asset Type

Industrial

Closing

Aug 1, 2025

About this deal

AI

This industrial property, located at 4601 Shilshole Avenue Northwest, spans 16 acres and is situated in the Seattle, WA market. The sale was finalized at a price of $9,550,000, representing a significant acquisition for the buyer. This site has a historical significance as it houses the 130-year-old Ballard Mill Marina.

Summary of transaction details:

  • Property Type: Industrial
  • Transaction Amount: $9,550,000
  • Buyer's Name: Ned Carner
  • Buyer's Company: Wing Point Partners
  • Location: 4601 Shilshole Avenue Northwest, Seattle, WA
  • Acres: 16

Ned Carner, CEO of Wing Point Partners, has stated their intention to respect the site's industrial legacy while fostering new waterfront business opportunities. The company plans to engage with the community and collaborate with tenants such as CSR Marine to influence the development of the property moving forward.

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$9,550,000

Industrial

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Seattle Industrial Market Snapshot

Boundary boundary · Industrial · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

1.66%

Cash-on-Cash

-0.47%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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