ON THE MARKET // 5425 Ballard Ave NW, Seattle, WA 98107
La Hacienda
On the Market
Price:
$4,550,000
La Hacienda Building, a prime mixed-use property in Seattle’s Ballard neighborhood. This well-maintained, two-story building features two street-level retail spaces and four residential units, all benefiting from exceptional visibility along Ballard Avenue. The property offers a rare investment opportunity with direct frontage to high foot traffic and Washington’s largest year round farmer’s market, The property features long-term leases, strong in-place rents and a nearly 12% upside in residential income. The asset boasts a history of high occupancy, excellent upkeep, and proximity to top-tier amenities. The property is also highly accessible, earning a Walk Score of 96 and offering direct access to multiple transit routes.
Property Overview
ADDRESS
5425 Ballard Ave NW,
Seattle, WA 98107
RESIDENTIAL SF
±3,580 SF
NEIGHBORHOOD
Ballard
RETAIL SF
±4,010 SF
YEAR BUILT
1926 / 2010
ZONING
NC2P-65
UNITS
4 + 2 Units
SITE AREA
4,650 SF (0.11 Acres)
Location
Executive Highlights
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Vibrant Urban Locale
The property features a walk score of 96, and a bike score of 93, providing convenient access to dozens of local amenities.
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Exceptionally Located
Located in the heart of Ballard along Ballard Ave, the property benefits from ample foot traffic including a surge of weekly visitors for the local Farmers Market, every Sunday year round.
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Strong Demographics
The offering is centered among a 3-mile population exceeding 182,800 with annual household expenditures averaging nearly $92,000.
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High Barrier to Entry
The Ballard neighborhood is historically regarded as having a limited supply of retail inventory with only 8,500 SF under construction, contributing to average annual rent growth of 2.9%. Multifamily development is down nearly 70% year over year, with 415 units under construction.
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Strong Historical Occupancy
At 100% occupancy, the asset stands out as a strongly desired, opportunistic spot for tenants and residents alike. Hot Cakes Ballard has occupied their space for just over 13 years, and a&be Bridal Shop approaching their ninth.
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Low Vacancy Submarket
Retail Vacancy in the Ballard/University District submarket is at 2.8%, with little change year-over-year. A lack of competing development has continued to push rents and constrain vacancies.
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