Built in 1919 and completed in 1920, the Campbell Building, was granted landmark status in 2017 but according to the listing agent Jay Azose, it can be developed to a height of 85 feet if the brick facade of the original building is preserved.
The Campbell Building at the corner of Alaska Street SW and California Ave SW in the heart of the West Seattle Junction is on the market for only the second time in over 100 years.
It was granted landmark status in 2017. But according to the listing agent Jay Azose of Azose Commercial Properties of Mercer Island, it's possible to preserve the facade, (the brick two story original appearance on the street) and then develop the property. "Is it is easy to do?" he said, " No, but someone will do it. There's too much pressure for property up there."
"Mr. Campbell originally bought the land for $300" Azose said.
There are no offers as yet on the property but it was just listed.
Here's the Landmarks Preservation Board report on the property.
Callifornia Ave SW and the Campbell Building in 1920.
The Campbell Building in 1925.
Neg. # 1983.10.12198.1. Description: Campbell Bldg. CA & Alaska. Undated. Museum of History and Industry, Seattle, WA.
The streetcar rails along California Avenue at Alaska Street are being improved (1926). Camera facing north. The newly completed Crescent Building is on the left, and the (1911/1920) Campbell Building is on the right.
Source: Southwest Seattle Historical Society.
NC3P-95 Zoning means it can be redeveloped to a height of 85 feet. The building features nine apartment units, two office tenants and several retail tenants including Cupcake Royale.
Listing Details
- List Price
- $6,000,000
- Listing Price Per SF
- $264.03
- Free & Clear
- Yes
- Total Income
- $421,896
- Total Expenses
- $159,206
- NOI
- $262,690
- Cap Rate
- 4.38%
- List Date
- 3/10/2022
