Mercer Island Assemblage
Property Status: SOLD
Sold Price: $7,900,000
The Offering: The assemblage represents three parcels totaling 3.14 acres. Zoning is primarily multi-family (MF-2) with a smaller portion of single family (R-9.6).
The Opportunity: This offering has development potential for four residential segments: a residential townhome development, for lease townhome or apartment product, senior housing and lastly, use of the existing 36,378SF structure with potential for expansion onto the vacant parcels. All uses will have an additional opportunity of two or three single family residential lots.
The Location: This opportunity is greatly influenced by its sought after location in an affluent neighborhood of which the zip code boasts an average closed new home sale price of just under $1.7MM or $436/SF. Additionally, it’s strategic location within the core of downtown is rare. All major amenities of the Island are simply steps from this property inclusive of commerce, transit, shopping, dining and parks. The superior access to both Seattle and Bellevue via I-90 as well as proximity to the region’s top employers of Microsoft, Amazon, Boeing to name a few, make this a exceptional opportunity for a residential or senior housing related development.
Delivery of Real Estate: All three parcels will be transferred via a bargain and sale deed at close of escrow. Buyer can close immediately or upon a negotiated entitlement milestone.
The offering is available immediately. Due diligence materials are available upon execution of a confidentiality agreement.
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“We work with several land brokers across the western U.S. And Ron Branch is among the best. Ron is very technically sophisticated, knowledgeable of the mechanics of the markets in which he operates, and is very focused on adding value to his clients. Moreover, he is gentlemen who is just enjoyable to work with. We would recommend Ron to anyone who needs a solid and honest advisor. “
Dustin Bogue
Century Communities -
“I have worked with Ron on land acquisition for the last 17 years and have appreciated his honest service at Branch Marketing Group. Ron has an excellent reputation as a land broker and provides us great insight into our regional land market. His ability to provide land opportunities to us has been invaluable. I recommend Ron to anyone who is in need of a land expert.”
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MainStreet Property Group
