Icicle Court
Icicle Court is a 42,648 SF Class B office building in Seattle's north Magnolia industrial submarket, offered at $7,400,000 ($279.98 per RSF). Built in 1983 and fully occupied, the four-story asset comprises 24,030 USF of office space with well-maintained interior finishes and commanding views of Fisherman's Terminal. The seller is open to discussing a sale-leaseback for part of the building, making this an attractive value-add opportunity for investors seeking quality office space significantly below replacement cost.
The property sits on a 10,800 SF lot zoned IG2 U85 and includes a two-level parking garage with 16,218 SF of space. Parking is abundant at 62 total stalls (2.2 per 1,000 SF), comprising 34 covered in-building spaces, 28 stalls in a leased adjacent lot, and abundant street parking. The location along 21st Avenue W provides direct access to the industrial corridor and waterfront amenities.
- 100% occupied Class B office building
- Sale-leaseback opportunity available for partial building
- 2.2 parking ratio with covered garage and adjacent lot spaces
- Below-replacement-cost pricing in established industrial submarket
- Fisherman's Terminal waterfront views
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Location
This 42,648 SF Class B office building, constructed in 1983, sits on a 10,800 SF lot in Seattle’s north Magnolia industrial submarket with stunning views of Fisherman’s Terminal. The property includes 24,030 USF / 26,430 RSF of office space across four floors and a 16,218 SF two-level parking garage. Interior finishes are well maintained, and the site is zoned IG2 U85. Parking is plentiful with approximately 62 total stalls (2.2:1,000 SF), including 34 covered in-building spaces and 28 additional stalls in a leased adjacent lot, along with abundant street parking. The seller is open to discussing a sale-leaseback for part of the building. Priced at $7,400,000 ($279.98 per RSF / $173.51 per GSF), this offering represents a rare opportunity to acquire quality office space significantly below replacement cost.