Updated Jan 6, 2025
Private Investor Purchases Retail Property In North Seattle For $13.9M From Madison Development
13244 Aurora Avenue North
$13,900,000
$270/SF
Building Size
51,329 SF
Asset Type
Retail
Closing
Jan 3, 2025
About this deal
AI
A 51,329-sq.-ft. multi-tenant retail property was sold in North Seattle, located at 13244 Aurora Avenue North. The asset, which sits on 3.7 acres, was acquired for $13.9 million. It features a 45,000-sq.-ft. LA Fitness, along with a 6,329-sq.-ft. pad that is fully leased to Jersey Mike’s, IRG Physical Therapy, and T-Mobile.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $13,900,000
- Square Footage: 51,329
- Address: 13244 Aurora Avenue North, Seattle, WA
- Price per Square Foot: $271
- Acres: 3.7
- Seller: Madison Development
- Broker Representatives: Dino Christophilis & Daniel Tibeau - CBRE
The transaction was facilitated by brokers Dino Christophilis and Daniel Tibeau, representing the seller, Madison Development. The deal underscores the activity in Seattle's retail market and the involvement of experienced brokers in closing transactions for significant property assets.
On the Map
$13,900,000
$270/SF
Retail
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Players
Seattle Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.14%
Cash-on-Cash
-0.33%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93