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Northwest Work Lofts

Off-Market

3131 Western Avenue, Seattle, WA 98121

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  • Property Type Office - Creative Office
  • Property Size 215,397 SF
  • Lot Size 0.89 Acre
  • Property Tenancy Multi-Tenant
  • Building Class B
  • Year Built 1950

Location

  • Walk Score ® Very Walkable (78)
  • Transit Score ® Excellent Transit (73)
  • Bike Score ® Very Bikeable (78)
Powered by Walk Score ®
  • City Seattle, WA
  • Neighborhood Central Waterfront
  • Zip Code 98121
  • Market Seattle

Points of Interest

Seattle Center

0.42 miles

Westlake & Denny

0.88 miles

Westlake & Denny

0.89 miles

Westlake & Thomas

0.91 miles

Westlake & 7th

0.93 miles

Westlake & 7th

0.94 miles

Terry & Thomas

0.97 miles

Westlake & Mercer

0.98 miles

Pacific Place

1.00 miles

Pacific Place

1.00 miles

Shell

0.07 miles

76

0.36 miles

Volta

0.38 miles

Shell

0.62 miles

Shell

0.65 miles

Shell

0.76 miles

Blink

0.90 miles

Greenlots

0.91 miles

Chevron

1.49 miles

Shell

1.74 miles

Republic

0.20 miles

First Avenue North Garage

0.21 miles

Diamond Parking

0.23 miles

James Albert Claypool Memorial Garage

0.24 miles

Church of Scientology Parking Lot

0.34 miles

Republic Parking

0.52 miles

U Park

0.53 miles

Diamond Parking

0.55 miles

Diamond Parking

0.58 miles

5th Avenue Garage

0.58 miles

Homewood Suites by Hilton Seattle Downtown

0.19 miles

Mediterranean Inn

0.34 miles

Hyatt House

0.46 miles

The Edgewater Hotel

0.46 miles

MarQueen Hotel

0.48 miles

Executive Inn By The Space Needle

0.55 miles

City Hostel Seattle

0.56 miles

Hyatt Place Seattle/Downtown

0.60 miles

The Maxwell Hotel

0.61 miles

Travelodge Seattle by the Space Needle

0.61 miles

Boat Street Kitchen & Bistro

0.01 miles

Subway

0.10 miles

Plaza Garibaldi

0.12 miles

Uptown China

0.13 miles

Domino's

0.18 miles

Thai On 1

0.23 miles

Aqua by El Gaucho

0.23 miles

Subway

0.24 miles

Coltiva

0.26 miles

Green Leaf

0.28 miles

The Center School

0.37 miles

Academy of Interactive Entertainment

0.41 miles

The Seattle School of Theology and Psychology

0.45 miles

Emerald City School

0.51 miles

Antioch University

0.54 miles

City University of Seattle

0.60 miles

Young Child Academy

0.71 miles

Saint Anne School

0.88 miles

Morningside Academy

0.97 miles

Northeastern University

0.99 miles

Bright Horizon

0.85 miles

KinderCare

1.07 miles

Seattle Infant Development Center

1.34 miles

Bright Horizons

1.72 miles

Bright Horizons Interbay

1.74 miles

Jose Marti Child Development Center

1.83 miles

Bright Horizons

1.85 miles

Mother's Place

1.95 miles

Denise Louie Education Center

2.23 miles

Fremont Community School

2.34 miles

Contacts

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Owner

  • True Owner

Tenants

Suite Name Tenant Leased
Space
Rent Price Lease
Type
Space
Type
Lease Term
370 17th Street #5500 MERRILL, (303) 446-5500 23,824 SF $23/SF/YR Modified
Gross
General
Office
11/01/2014-
N/A
370 17th Street
#6000
Morrison & Foerster,
(303) 592-1500
10,710 SF $26/SF/YR Full
Service
General
Office
08/01/2013-
07/31/2023
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Documents

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Sales

  • Purchase Date 01 Apr, 2016
  • Purchase Price
  • Arm's Length True
  • Buyer Name

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
Recoverables Show detailsHide details
$16.7/SF/YR
CAM
$3.54/SF/YR
Insurance
$0.59/SF/YR
Taxes
$9.52/SF/YR
Utilities
$1.76/SF/YR
Management Fees
$1.3/SF/YR
Total Rent
$61/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
View more Seattle market trends

Tax

  • Property Tax in 2022 $170,858
  • Market Value* $19,351,000
  • Assessed Value $19,351,000

Find more tax info, including assessment history and abatements, on CommercialEdge

*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 Northwest Work Lofts?

Northwest Work Lofts totals 215,397 square feet.

When was this property built?

Northwest Work Lofts was built in 1950.

When was Northwest Work Lofts last sold?

Northwest Work Lofts was last sold on 01 Apr, 2016.

What is the property tax for Northwest Work Lofts?

The property tax for Northwest Work Lofts in 2022 was $170,858.

What is the market value for Northwest Work Lofts?

The market value* for Northwest Work Lofts in 2022 was $19,351,000.
*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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