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5940 Martin Luther King Jr Way/ 3613 Juneau St. S

5940, MLK Jr Way, Seattle, WA 98118
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Description

5940 Martin Luther King Jr Way/ 3613 Juneau St. S (Status: Available)

5940, MLK Jr Way, Seattle, WA  98118

5940 MLK Jr Way S “Property” consists of two legal parcels totaling 1.35 acres and a single 27,939 SF building. The Property is located on the Seattle Light Rail Line, equal distance between the Columbia City and Othello Street Stations and a block from the planned Graham Street Station in South Seattle.The entire Property is leased to the U.S. Postal Service until 2028; a lease guaranteed by the U.S. Government at below market annual rent of $334,400 increasing to $361,200 in 2024. In 2028 when the USPS lease expires ownership will have the unique choice of:• Immediately commencing redevelopment having secured entitlements during USPS’s prior lease term. A preliminary site study outling a 227-unit multi-family redevelopment is attached.• Sell the site with entitlements.• Pursue a le

Listing Details

Asset Class: Industrial
Year Built: 1952
Building Total Square Feet: 27939
Available Lease Space Square Feet:
Number of Floors: 1
Total Parking Spaces: 0
Local Zoning Information: NC255M

CBA

Listing Courtesy of: Neil Walter Company

Disclaimer: The information contained in this listing has not been verified by Windermere Real Estate/Whatcom, Inc. and should be verified by the buyer.

  • Address: 5940, MLK Jr Way, Seattle, WA 98118
  • City: Seattle
  • State/county: WA
  • Zip/Postal Code: 98118
  • Neighborhood: S. Seattle
  • Country: United States

Detail

Updated on August 13, 2022 at 1:31 am

  • Property ID: 654583
  • Property Size: 27939 Sq Ft
  • Property Type: Industrial
  • Property Status: Available

Contact info

Windermere Commercial
Windermere Commercial
360-676-5900

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