5602 1st Avenue S, Seattle, WA 98108
- $1,975,000
Listing courtesy of Berkshire Hathaway HS NW.
- List Price
- $1,975,000
- Status
- ACTIVE
- MLS#
- 2197644
- Days on Market
- 93
- Annual Tax Ammount
- 8276
- Internet Provider
- Comcast
Property Description
BUILDING AND RESTAURANT FOR SALE: 5.6% CAP RATE!!! Fully operational and open. "Slim's Last Chance Bar". Entire operation including all property, stoves, ovens, appliances, kitchen, bar ware & fixtures are included (Except Slim's Art and sign). TURN KEY OPPORTUNITY. This rare free standing, fully fixtured restaurant with on site parking offers kitchen with type 1 hood, outdoor patio/dining & includes sound system for 2 stages. Highly visible corner location with prime 120 ft. of frontage on 1st Ave S. Slim's Last Chance Saloon has been named in Diner, Drive ins and Dives and made famous by travel Channel and food Paradise. Includes newly signed five year NNN lease on 5602 & new 6 month pre-paid lease on 5606. Great opportunity.
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Additional Information
- Community
- Georgetown
- Building Condition
- Very Good
- Style
- 60 - Comm Bldg Und 10K
- Year Built
- 1932
- # of Assigned Spaces
- 20
- Roof
- Composition, Flat, Torch Down
- Tax Year
- 2023
- Potential Terms
- Cash Out
- Interior Features
- Ceramic Tile, Hardwood
- Flooring
- Ceramic Tile, Hardwood, Vinyl
- Driving Directions
- I-5, Exit 162 (Michigan Street), turn right on Michigan, turn right on 1st Ave S.
- Other Expenses
- 4111
- Energy Source
- Natural Gas
- Buyer Agency Compensation
- 2.5
- Net Operating Income
- $111,425
- Gross Adjusted Income
- $144,509
- Gross Scheduled Income
- $144,509
- Water/Sewer/Garbage Expenses
- $14,323
- Cap Rate
- 5.64
- Total Expenses
- $33,084
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