Now that Cobblestone Used Furniture in Greenwood has closed, there’s a sign in the window advertising it for rent.
A hand-written sign over the retail space available sign says it’s 3,386 square feet and is being offered at $19 per square foot. That works out to $64,334, annually, we assume. It also says there’s a 3.5 percent annual increase on the rent. I’ve not priced a lot of retail space, so does anyone have any insights on whether that’s a reasonable rate?
3 responses so far ↓
1 MonkeyPilot // Sep 5, 2008 at 1:40 pm
I haven’t priced a lot of retail space either. But being the curious type, I looked at current rents in the Greenwood and Ballard areas. In Greenwood, some yet-to-be-built building is listed at a high of $25/sf. More real-life examples are the commercial strip along Greenwood between 85th and 87th at $19/sf (for 1948sf = $37k), and the former Tully’s space at $22/sf (1896sf). In Ballard, the high is, no surprise, in Canal Station at a whopping $38/sf (1000sf), down to $17/sf (970sf) on 15th near Ballard High.
2 Glocal // Sep 8, 2008 at 11:50 am
Anybody know what’s up with the building on 85th and 1st Ave (across from Fred Meyer) that has been vacant for so long?
3 Wordfish // Nov 5, 2008 at 6:22 pm
Hi! Good news! Cobblestone Used Furniture has reopened because Mud Bay Granary Pet Supply Store uexpectedly backed out of their lease of 8414 Greeb=nwood Avenue N. in an attempt to force the owners to lower their lease rent and for other concessions.
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