548 15th Avenue, Seattle, WA

Property Type Office - Medical Office
Property Size 31,851 SF
Lot Size 0.28 Acre
Property Tenancy Single Tenant
Building Class B
Year Built 2010

Location

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Street

City Seattle, WA
Neighborhood Minor
Zip Code 98122
Market Seattle

Contacts

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Owner

True Owner

Brokers

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Documents

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Sales

Purchase Price
Arm's Length True
Buyer Name

Mortgages

Current Lender
Loan Origination Date

Market Trends

Average Actual Rents in Seattle

Average rents use actual signed leases, aggregated for your specific search area and asset type with Yardi Market Insight. Be confident your price is competitive, with CommercialEdge.

Current Average Rent

Net Rent

$44.3/SF/YR

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$16.7/SF/YR

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Occupancy & Leasing Activity

Occupancy

83.5%

Lease Spread

-20.5%

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Asking Rents in Seattle Office Market

Office rental rates are based on aggregated data of asking rates.

2020 Avg. Asking Rent $41.40
2020 Office Vacancy Rate 10.70%
2020 Office Completions (SF) 2,507,003

Seattle Office Sales Trends

All sale prices are based on publicly recorded, verified sales.

2020 Avg. Price per SF $848.55
2020 Office Sales Volume $1.6B
2020 Number of Transactions 12

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Tax

Base Tax $90,497
Market Value* $10,249,500
Assessed Value $10,249,500

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*The displayed market value represents the assessed value determined by the appropriate local tax/financial authority. It is not the property’s latest sale price or a current market value based on recent area sales.

Frequently Asked Questions

What is the total square footage of 548 15th Avenue?

548 15th Avenue totals 31,851 square feet.

When was this property built?

548 15th Avenue was built in 2010.

What is the market value for 548 15th Avenue?

The market value* for 548 15th Avenue in 2022 was $10,249,500.
*This represents the market value determined by the appropriate local tax/financial authority, and not the latest sale price or current market value based on recent sales.

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548 15th Avenue, Seattle, WA 98122 - Office Space

548 15th Avenue is located at 548 15th Avenue in the Minor neighborhood, WA, Seattle, 98122. The Class B Office building was completed in 2010 and features a total of 31,851 SF.

There are 4 office spaces for lease in the Minor neighborhood, totaling 19,814 SF of available office space. The office space availability for the 98122 zip code is 104,410 SF, in 23 office spaces. The average asking office rent per SF in Minor is $34.5/SF/YR. For Class B office buildings the average office rate is $34.5/SF/YR.

In Minor, there are 8 class B office buildings. In 2010, the same year 548 15th Avenue was built, 3 more commercial properties (office, industrial, retail) over 50,000 square feet were built in Seattle, featuring 855,390 square feet of commercial space. At zip code level, there are 14 commercial properties, of which 12 are office buildings over 50,000 square feet.

548 15th Avenue