4241 21st Avenue W, Seattle, WA 98199 (MLS # 2321503)
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Listing provided courtesy of Northwest MLS; Windermere Real Estate Midtown
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Remodeled 4-story office building featuring a secured lobby entrance, 23+ off-street parking spaces, building conference room, shower facility, hospital grade HEPA filtration system and incredible views of the Ship Canal and Fisherman's Terminal from every floor. Great location close to Vertical World Climbing Gym, Discovery Park, and many great restaurants and breweries. This is an excellent opportunity for an investor or an owner-user to acquire an updated property with stabilized income from long-term tenants with below market rents. Flexible leases allowing a new owner to occupy a portion or all of the building. 4.6% cap rate based on current income and 62% occupancy. Actual 10%+ cap rate with 90% occupancy. Please don't disturb current tenants.
| LAST UPDATED | 1/22/2026 | TRACT | Magnolia |
|---|---|---|---|
| YEAR BUILT | 1979 | COMMUNITY | Magnolia |
| COUNTY | King | STATUS | Active |
| PROPERTY TYPE(S) | Commercial |
| PRICE HISTORY | |
| Prior to Jan 22, '26 | $3,500,000 |
|---|---|
| Jan 22, '26 - Today | $2,500,000 |
| ADDITIONAL DETAILS | |
| AIR | Central Air |
|---|---|
| AIR CONDITIONING | Yes |
| AREA | 700 - Queen Anne/Magnolia |
| CONSTRUCTION | Wood Siding |
| HEAT | Electric |
| LOT | 0.2755 acre(s) |
| LOT DESCRIPTION | Level |
| LOT DIMENSIONS | 100 x 120 |
| MLS STATUS | Active |
| STYLE | 61 - Comm Bldg Ovr 10K |
| SUBDIVISION | Magnolia |
| TAXES | 42002 |
| UTILITIES | Sewer Connected |
| WATER | Public |
| ZONING | Business,Commercial,Industrial,Industrial-Light,Office |
| SATELLITE VIEW |
| / | |
Properties with the 
icon are courtesy of Northwest MLS.
Listings courtesy of Northwest MLS as distributed by MLS GRID. Based on information submitted to the MLS GRID as of 1/28/26 12:41 PM PST. All data is obtained from various sources and may not have been verified by broker or MLS GRID. IDX information is provided exclusively for consumers’ personal noncommercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
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