Updated Aug 5, 2025
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.
On the Map
$9,550,000
Industrial
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Players
Seattle Industrial Market Snapshot
Boundary boundary · Industrial · Sale transactions
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Deal FAQ
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