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The 38,725 SF Affordable Self Storage in Bothell recently changed hands for $6M, which is $155 per rentable square foot. The facility sold at its full list price.
The property has a 2019 tax value assessment of $1.72M, according to public records. The facility is on 196th Street off the Bothell-Everett Highway in a dense commercial and residential zone that includes apartments and retail. Built in 1983 on 2.08 acres, it has 290 units.
“Affordable Self Storage attracted multiple offers and generated a highly competitive bidding process,” Marcus & Millichap Seattle office Senior Vice President Investments Christopher R. Secreto said in a statement. “Much of the area is gentrifying and buyers were attracted to the facility’s proximity to the new Paine Field Airport and Seattle.”
Secreto represented the seller, a Washington-based partnership, and secured the out-of-state buyer.
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