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Stream Real Estate Acquires Queen Anne Plaza Office Building In Seattle For $7M
SOLD
$7,000,000
+ 3
Washington
See Similar DealsOffice
Sold
SOLD
Stream Real Estate Acquires Queen Anne Plaza Office Building In Seattle For $7M
201 Queen Anne Avenue North
See Similar DealsOffice
Sold
+ 3
Summary
WASHINGTON
Asset Type:Office
Transaction Type:Sale
Stream Real Estate has acquired Queen Anne Plaza, a four-story office building and parking structure located at 201 Queen Anne Avenue North in Seattle's Lower Queen Anne neighborhood. The property was purchased from East West Investment Co. for a total of $7,000,000.
Summary of transaction details
The transaction was facilitated by Andrew Shultz, Brandon Burmeister, Dan Chhan, Matt Kemper, Sam Wayne, and Tim McKay of Cushman & Wakefield, who represented Stream Real Estate as the buyer in the deal.
This acquisition marks an important milestone for Stream Real Estate as they expand their portfolio with the purchase of Queen Anne Plaza. The property's prime location in the vibrant Lower Queen Anne neighborhood offers great potential for future development and growth.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$373,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$24,869.54
Cash-on-Cash Return-1.27%
Monthly Debt Service$33,183.57
Annual Debt Service$398,202.85
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