$5,449,950
Est. $29,536/mo3228 1st Avenue S, Seattle, WA 98134
• Listed Mar 20, 2026•232 days active · 232 cumulative
Listing Broker: Berkshire Hathaway HS NW; Paul B. Poirier; 206-915-6881; paulpoirier@BHHSNWRealEstate.com
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Listing Broker: Berkshire Hathaway HS NW; Paul B. Poirier; 206-915-6881; paulpoirier@BHHSNWRealEstate.com
About this home
Excellent income-producing investment opportunity in Seattle's thriving SODO district, just one mile south of downtown and minutes from the stadiums. This highly visible corner property offers outstanding frontage along First Avenue South, a 14,100 SF lot, and convenient access to I-5, I-90, and SR-99. The 20,975 SF building features multiple commercial tenants, diversified income streams, and additional leasing upside. The property's largest space, approximately 9,000 SF, was recently secured under a new 10-year NNN lease with Outland Club LLC. The building generates $324,360 in annual base rental income moving forward. Additional income comes from 13 leased band/practice rooms, a long-term commercial tenant (Fastest Labs), and a recently leased upstairs work loft. Significant upside remains with two vacant ground-floor commercial storefronts along First Avenue South totaling 2,400 SF, one upstairs work loft approximatly 2,000 SF, and four additional band/practice rooms available for lease. With a new long-term anchor tenant, established cash flow, diversified rental income, and opportunities to further increase revenue through lease-up, this property offers investors an excellent opportunity to acquire a substantial income-producing asset in Seattle's desirable SODO district.
Listed by Paul B. Poirier • Berkshire Hathaway HS NW
Listing updated: October 21, 2026 at 03:43pm
RexMont checked: moments ago
Source: NWMLS as Distributed by MLS Grid #2494940
Around this home
How much should you offer?
3228 1st Avenue S, Seattle, WA 98134
Source:RexMont analysis of Northwest MLS sales data for this ZIP code plus third-party market data (RentCast). The estimates are RexMont's, not Northwest MLS listing data.
Estimates only and not guaranteed. Consult a RexMont agent for accurate, personalized guidance before making an offer. RexMont OfferEdge™ · © 2026 RexMont Real Estate. Proprietary tool.
Property details
Layout
- Comm Bldg Ovr 10K
Flooring
- Ceramic Tile
- Concrete
- Vinyl
- Vinyl Plank
Heating & cooling
- Ductless heating
- Fireplace Insert heating
- Wall Furnace heating
- Ductless cooling
Schools
Ratings via SchoolDigger- Beacon Hill International SchoolPublic · Grades K-5 · 1.1 mi · State rank 387 of 1,1386/10
- Mercer International Middle SchoolPublic · Grades 6-8 · 1.2 mi · State rank 82 of 5148/10
- Seattle Skills CenterPublic · Grades 9-12 · 0.4 mi—
Schools shown are the nearest public Elementary, Middle, and High school for this property and may not be the assigned schools. Verify attendance boundaries with the district before purchasing.
Commercial facts
As entered by the listing broker on Northwest MLS
Building
- Building square feet
- 20,975 sq ft
- Expansion area
- false
- Year built
- 1937
- Environmental survey
- Yes
Parking & site
- Acres
- 0.32 acres
- Lot square feet
- 14,100 sq ft
- Zoning jurisdiction
- City
Income & lease
- Gross scheduled income
- $324,360
- Square feet rented
- 6,150 sq ft
Taxes & terms
- Annual taxes
- $41,508
- Tax year
- 2025
- Financing
- Cash, Conventional
Neighborhood mobility
Doorstep, Pedal & Station Scores
Three RexMont scores for this exact address: what is on foot, what is by bike, and what rides past the door.
Ground Truth™
The ground, the slope, the flood zone and the noise at this address
Read from public hazard, flood, terrain and noise maps for this exact home.
Address Insider™
The members' report
Commute, transit, zoning and ADU potential, internet providers and the lifestyle around the home: the nearest grocery, coffee, park, services and transit stop. One free registration opens every home on rexmont.com.
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Sales & Tax Records for 3228 1st Avenue S
NWMLS via MLS Grid · King County AssessorEvery listing, pending, price change and closing filed on this home with the NWMLS, the county’s recorded sales, and its assessed values by tax year.
- Mar 19, 2026ListedNWMLS via MLS Grid · #2494940$5,449,950
- Jul 30, 2007Recorded saleKing County recorder · Statutory warranty deed$2,200,000
- Oct 14, 1997Recorded saleKing County recorder · Statutory warranty deed$400,000
Mortgage payment forecast
$34,357 per month
Great rateTakes about 5 minutes & won't affect your credit
Get pre-approvedSource: RexMont estimate, not Northwest MLS listing data. Interest rates from Freddie Mac's Primary Mortgage Market Survey via FRED (Federal Reserve Bank of St. Louis). Property tax and HOA dues from the NWMLS listing where provided, otherwise estimated; insurance estimated at 0.3% of price per year.
Estimate only. Actual payment depends on credit, lender, and program. PMI not included for down payments below 20%.
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Listing Broker: Berkshire Hathaway HS NW; Paul B. Poirier; 206-915-6881; paulpoirier@BHHSNWRealEstate.com
Market pulse
Seattle is a balanced market.
Supply and demand are roughly in balance. Neither side has a clear edge.
Offer insight: Homes typically sell with one offer near asking price.
List to sale price: The average home sells for about 3% over list price.
Time on market: The average home goes pending in around 172 days.
Want a deeper read on this market?
Ask a RexMont agentMarket data from MLS GRID / NWMLS · Updated Nov 2026
Information and statistics derived from Northwest Multiple Listing Service. Source: Northwest Multiple Listing Service, as distributed by MLS GRID.
MLS GRID Disclaimer
Based on information submitted to the MLS GRID as of November 6, 2026 at 11:06 AM PT (date and time MLS GRID Data was obtained). All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
Listing information courtesy of Northwest Multiple Listing Service (NWMLS). The listing data relating to real estate for sale on this web site comes in part from the Northwest Multiple Listing Service. Real estate listings held by brokerage firms other than RexMont Real Estate are marked with the “Listing courtesy of NWMLS” designation. Information provided is for the consumer’s personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.
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