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Lee & Associates Lists Historic 80K-SF Ballard Building for Sale
Lee & Associates announced that the Ballard Building, a historic mixed-use asset, has been listed for sale.
Lee & Associates is marketing the 99-year-old property at 2208 NW Market St. for an undisclosed price. The firm’s Scotty Rowe, Alex Muir, Stuart Williams and McCallum Mead are brokering the sale. The property features prominent street-level retail, professional office suites, and a penthouse apartment unit. At 98% occupancy, the Ballard Building represents an opportunity to acquire a generational legacy asset at a basis well below replacement.
The six-story, 80,000-square-foot building has six ground-floor retail tenants, four floors of office space and a penthouse apartment. Ballard Health Club occupies the property’s lower level. The property features a diverse mix of established ground-floor retail, boutique professional office suites, and a penthouse apartment overlooking historic Ballard Avenue and the Lake Washington Ship Canal. CKM Associates LLP, a partnership owned by several local Ballard residents, purchased the building in 1983.
