Tuesday, March 29, 2011

Former Laurelhurst Residents Put Commercial Building For Sale On Busy NE 45th Street

Pat Hester and his business partner Alan Serebrin, who both grew up in Laurelhurst and still live nearby, are selling their commercial building at 3430 NE 45th Street, that thousands of cars pass by every day.

It is the brown wooden building where children's consignment store, Le Petit Shoppe, is located and other businesses. It  is just down the street a bit from China Village Restaurant.

Alan, who attended Laurelhurst Elementary School, told us that he and Pat have worked together on many projects in the north end and throught the city. One of their recent projects was moving an entire 1920's Craftsman house from the Madrona neighborhood to Madison Valley.

Alan and Pat purchased the two story building on busy NE 45th Street just on the border of Bryant, about three years ago with the intention to make improvments and then put it back on the market.

Alan said "As many of you no doubt remember it was really quite an eyesore, and as 'fixing up' distressed (usually classic residential) properties was the business we were in, this was a perfect opportunity for us."

The building, which has 6 unit offices, currently has five "extremely personable and solid tenants, and has always been fully occupied," Alan told us.

Current tenants are Wan Kim with 'La Coupe' pet grooming parlor, and Katherine Meenk at 'Petit Shoppe' a childrens clothing and retail store on the first floor. And on the second floor is John Ramsey with 'Allstate Insurance', Ellen Nelson at 'Advanced Electrolysis', and Darcy Camden with 'Styled Seattle'.

Alan told us that he and his partner "consider themselves stewards in the real estate industry, always making an effort to improve and pass on a finished product that we can be proud of. This particular building is no different, and we feel that it's prominent location on NE 45th, with high traffic count, and incredible visibility offers a great opportunity for a new owner."

The asking price for the 6 unit building is $1, 395,000.

The ad in Craigslist says:
Great location near University Village, University of Washington, Laurelhurst. and Burke Gilman trail. 6 units office/studio. 2 story (no elevator) High traffic counts - over 30,000 vehicles per day. Perfect size for owner/user or investor. Beautiful new cedar facade and windows. Well maintained property with new roof, paint and carpets and great natural light. Awesome exposure and access from NE 45th Street. Ample street parking.

The building has also been advertised in the classified ad section of the most recent Laurelhurst newsletter.

Alan wrote to us: "Whether you are a local resident and business owner looking to open up, or move your office nearer to home, or an investor, please feel free to call or e-mail us with any questions you may have."

Pat can be reaced at (206) 595-1522 and Alan at (206) 280-3820, or by e-mail at serebrin@comcast.net.

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