OFFERING MEMORANDUMValue Add Opportunity Fauntleroy Square6413 Fauntleroy Way SWSeattle, Washington 98136
Independently Owned and Operated A Member of the Cushman & Wakefield Alliance
GREG MILLERDDirector
(206) 521 0237
Offering Memorandum | 2
For property questions please contact: Greg MillerdCushman & Wakefield Commerce(206) 521-0237 [email protected]
For Ten-x questions please contact: Thatcher Milholland Ten-X(206) [email protected]
Sale ProcessCushman & Wakefield Commerce and Ten-X will conduct an online sale process for the
Property on www.Ten-X.com in accordance with the Participation Terms (available for
review in the Property’s Ten-X online due diligence vault). This is not an online auction
for the Property, but rather part of Ten-X’s recently launched Offer Select platform,
which allows buyers and sellers to negotiate purchase and sale terms for the Property
(such as having a due diligence inspection period and refundable deposit).
Due Diligence MaterialsDue diligence materials are available to prospective buyers via an online due diligence
vault hosted by www.Ten-X.com. Prospective buyers will be required to: 1) set up a
Ten-X.com account (at no-cost) and 2) execute an online confidentiality agreement to
gain access to the online due diligence vault of information.
Online Call for Offers DateDuring the marketing period for the Property, Cushman & Wakefield Commerce may
set a Call for Offers Date that you will be notified about via e-mail. On or before this
to-be-determined date, please submit an offer for the Property on the Property’s web
page via the “Create Offer” button. Your offer to the Seller via Ten-X may consist of the
following terms:
1) Purchase Price
2) Due Diligence Period
3) Closing Period
4) Deposit Amount
5) Financing Contingency
6) Due Diligence Contingency
After receipt of the above terms, the Seller will have the option of accepting your offer,
providing further guidance on any of the above terms, or rejecting your offer. If guid-
ance is provided by the Seller, you will have the option of accepting those terms, pro-
viding further guidance back to the Seller, or declining the newly suggested terms. This
process may continue until you, or another buyer, and the Seller agree to terms. Seller
reserves the right to negotiate with any party on an exclusive basis at any time. Seller
also reserves the right to reject any and all offers.
The Property is offered in an “as-is” condition without representation or warranties, ex-
pressed or implied, as to physical condition, expenses of operation, future net income,
zoning or other matters affecting the value or use of the Property.
TEN-X IMPORTANT DATES
Call for Offers December 15, 2016
Tour Dates:
Tour Date #1 December 6, 2016
Tour Date #2 December 13, 2016
TABLE OF CONTENTS
Offering Memorandum | 3
TEN-X IMPORTANT DATES
Call for Offers December 15, 2016
Tour Dates:
Tour Date #1 December 6, 2016
Tour Date #2 December 13, 2016
EXECUTIVE SUMMARY
Property Summary . . . . . . . . . . . . . . . . . .5
Property Description . . . . . . . . . . . . . . . .6
Retail Map . . . . . . . . . . . . . . . . . . . . . . . . .8
Property Photos . . . . . . . . . . . . . . . . . . . .9
FINANCIALS
Rent Roll . . . . . . . . . . . . . . . . . . . . . . . . . . 10
Lease Assumptions . . . . . . . . . . . . . . . . 10
Financial Model . . . . . . . . . . . . . . . . . . . . .11
MARKET OVERVIEW
Puget Sound Overview . . . . . . . . . . . . . 12
Medical Office Overview . . . . . . . . . . . . 13
Comparable Property Sales . . . . . . . . . 14
Comparable Property
Leased Space . . . . . . . . . . . . . . . . . . . . . 15
Comparable Property
Avilable Space. . . . . . . . . . . . . . . . . . . . . 15
EXHIBITS
Tenant Descriptions . . . . . . . . . . . . . . . . 16
Local Demographics . . . . . . . . . . . . . . . 17
EXECUTIVE SUMMARY
Offering Memorandum | 4
Cushman & Wakefield Commerce, as exclusive agent, is pleased to offer for sale Fauntle-roy Square, 6413 Fauntleroy Way SW (“Property”), as a well-established 12,016 square foot retail/office building located within the vibrant “West Seattle” neighborhood of Seat-tle, Washington. The property provides an investor with a compelling opportunity to ac-quire a stabilized asset with substantial rent growth opportunity on re-tenanting. In addi-tion to the benefits of owning in the dynamic Puget Sound region, Fauntleroy Square offers:
Well Configured Core – Fauntleroy Square was built to take advantage of the need for local retail and office/professional space. Suites range in size from 720 to 2,400 square feet allow-ing for a diverse mix of professional service providers and retail operators. The building suites could be further demised or aggregated, depending on the investor’s preferences and market demand. The mix of short and longer term leases allow an investor the stability of cash flow while
devising a repositioning strategy.
Central Location, Vibrant Community - Fauntleroy Square is located within the City of Seattle’s “Morgan Junction Urban Village,” a subarea of West Seattle. Seattle’s urban villages are part of the City’s plan to address and accommodate population growth in the region. This property is walking distance for a significant population, many of who commute to Seattle via
bus, water taxi, and other means. The neighborhood, located approximately 15 minutes west of downtown Seattle, has been a magnet for young urban tech professionals migrating in pursuit of opportunities present at Amazon, Facebook, Google and other tech firms expanding in the
region,
Value Add Opportunity – Currently fully leased, the Property offers an opportunistic investor the opportunity to reposition the building and significantly increase NNN rental rates. Current ownership has maintained the building structure commensurate with market standards, but has chosen to manage for cash flow and defer capital investments, such as cohesive signage, re-painting and tenant improvements. The property’s average gross rent is $17.50 per square foot, while comparable available spaces in the area are $28.00. Given the location, market rental rates, and dynamic growth of the Puget Sound area, there is a near and long term opportunity for substantial value creation.
Offering Memorandum | 5
Property Summary
Fauntleroy Square is located within West Seattle, a vibrant in-
city neighborhood approximately 15 minutes by car from down-
town Seattle. A neighborhood valued for walkable streets, lo-
cal amenities, and easy access to the vibrancy of Seattle, West
Seattle has become one of the in-demand submarkets for the
region’s burgeoning tech community. The building is located
on Fauntleroy Way SW (a major arterial connecting the neigh-
borhood to Seattle) at California Avenue (a major North-South
community connector).
Built in 1949 and renovated in 1986, the 12,016 square foot
building sites on a lot of approximately 13, 277 square feet. The
building has been well maintained, but offers upside for new
architectural treatment. The mix of tenants has been extremely
stable over the current ownership’s tenure.
Property Name Fauntleroy Square
Property Address 6413 Fauntleroy Way SW, Seattle, Washington 98136
Property Type Two-story class B retail/office building
Zoning NC3-30, Urban Village Designation
Rentable Area 12,016 SF
Year Built 1949; renovated 1986
Structure Wood framing with wood siding
Number of Suites 9 total suites
Lot Size 13,277 SF
Parking 20 on site parking spaces plus street parking
Occupancy 100%
Expected 2016 NOI $171,010
EXECUTIVE SUMMARY
Offering Memorandum | 6
Property Description
Jurisdiction Seattle
County King
Parcel Number 082600-0205
Site Area 13,277 SF
Zoning NC3-30
Foundation / Substructure Concrete slab-on-grade with perimeter and interior footings under load bearing structures
Superstructure Conventional wood-framing
Façade Wood siding
Roof Type -
Windows Aluminum frame dual glaze
Number of Suites 9
Parking Space Count 20
ADA-Designated Parking Count 2
Fire Suppression Wet-pipe sprinkler system
Fire Alarm Central system with outside dialer
Flood Zone Zone 2
Seismic Zone Zone 3
S. 348th St
King County, Pictometry International Corp.
082600-0205
Offering Memorandum | 7
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Kenmore
Kent
Kingsgate
Kirkland
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EXECUTIVE SUMMARY
Offering Memorandum | 8
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F:\Projects\SEA\Olson\6413FauntleroyWaySW\Site_TT.mxd 9/16/2015 4:45:42 PM ltilley
0 0.035 0.07 0.105 0.14 0.1750.0175Miles
6413 Fauntleroy Way SW 1420 Fifth Avenue, Suite 2600, Seattle, WA 98101 (206) 682-0666
GatewoodElementary
High PointElementary
SITE
Retail Map
Offering Memorandum | 9
Property Photos
FINANCIALSRENT ROLL & LEASE ASSUMPTIONS
Offering Memorandum | 10
Rent Roll
Tenant Name SuiteTenant
Size(SF)
TermLease
Expiration Date
Start 2017 Monthly Rent
Starting Amount
2017 Annual Rent Amount
NNN Monthly
Escalation Provision
2017 NNN (PSF)
2017 Gross Rent (PSF) Options Notes
Sound Association 6413 1,150 5 Yr. 12/31/2016 $1,572.35 $18,868.20 $483.76 Scheduled $16.41 $21.45 $1,572.35 on Jan. 2017
Conscious Choice Chiropractor 6415 1,340 5 Yr. 4/30/2020 $1,450.00 $17,400.00 $589.63 Scheduled $12.99 $13.45 Two for 3 yrs. $1,551.50 May 2017
Alki Tours 6417A 2,402 M-to-M Owner $2,802.00 $33,624.00 $1,114.40 CPI $14.00 $19.56Part owner of the real estate, willing to sign lease upon closing (2 yrs. at $14/SF)
Puget Sound Driving School 6417B1 720 5 Yr. 10/31/2020 $765.98 $9,191.76 $297.03 Scheduled $12.77 $17.72 One for 2 yrs. $765.92 on 11/1/2016
Allstate Insurance 6417C 936 3 Yr. 11/30/2017 $999.00 $11,988.00 $453.80 Scheduled $12.80 $18.63One for 3 yrs. then one for 2 yrs.
$999 on 12/1/2016
Hiit Lab 6417D 1,742 6 Yr. 12/31/2021 $927.00 $11,124.00 $861.99 Scheduled $6.38 $12.32 $927 on 1/1/2017
Cuddle Club 6417F 7002 Yr. Ext. 2/28/2018 $695.00 $8,340.00 $356.42 Scheduled $11.91 $18.02 See Lease
Extension$695 on 3/1/2017
Bolsa Nails 6419 1,745 5 Yr. 9/30/2018 $2,340.90 $28,090.80 $773.74 Scheduled $16.09 $21.42 Two for 3 yrs. $2,340.90 on 10/1/2017
Merry Maids 6421 1,900 5 Yr. 6/30/2020 $1,514.30 $18,171.60 $801.44 Scheduled $9.56 $14.63 One for 5 yrs. $1,544.59 on 7/1/2017
Total 12,635
Average per SqFt $12.55 $17.47
New Renewal
Base Rent NNN $20.00 $17.00
TIs $12.00 $6.00
Commissions 6% 4%
Abatement 3 mos. 0 mos.
Renewal Probability 30% 70%
Lease Terms 5 years 5 years
Downtime 6 mos. 0 mos.
Rent Bumps 3% 3%
OPEX NNN NNN
General Inflation 3% 3%
Credit/Vacancy Loss 5% 5%
Offering Memorandum | 11
Financial Model
Current Occupancy: 100.0%Average Occupancy: 99.4% 96.2% 96.8% 93.3% 100.0% 97.7% 96.7% 95.7% 94.2% 99.1% 97.7%
Rent (Blended NNN): $13.78 PSF $15.67 PSF $16.44 PSF $18.49 PSF $18.31 PSF $21.56 PSF $22.43 PSF $23.42 PSF $24.47 PSF $23.94 PSF $24.99 PSFAnnual Rent Growth: ---------- 13.7% 4.9% 12.5% -1.0% 17.7% 4.0% 4.4% 4.5% -2.2% 4.4%
Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10 Year 11 Fiscal Year Ending Yr. 1 PSF Dec-2017 Dec-2018 Dec-2019 Dec-2020 Dec-2021 Dec-2022 Dec-2023 Dec-2024 Dec-2025 Dec-2026 Dec-2027 Income:
Minimum Rent $13.70 PSF $173,059 $190,389 $201,151 $217,909 $231,380 $266,192 $273,976 $283,146 $291,236 $299,550 $308,445Lag Vacancy $0.12 PSF ($1,560) ($10,001) ($8,494) ($14,807) ($6,732) ($9,984) ($13,424) ($14,124) ($3,131) ($7,804)Free Rent $0.00 PSF ($11,421) ($18,732) ($18,275) ($4,052) ($10,097) ($9,767) ($25,502) ($19,381) ($6,502) ($11,706)Total Minimum Rent $13.57 PSF $171,499 $168,967 $173,925 $184,827 $227,328 $249,363 $254,225 $244,220 $257,731 $289,917 $288,935 Expense Reimbursement Revenue $0.00 PSF $78,960 $78,232 $81,094 $80,696 $90,108 $91,344 $93,089 $94,373 $95,874 $104,438 $105,888
Total Potential Gross Revenue $19.82 PSF $250,459 $247,199 $255,019 $265,523 $317,436 $340,707 $347,314 $338,593 $353,605 $394,355 $394,823
General Vacancy $0.00 PSF $0 ($2,859) ($4,682) ($15,872) ($10,640) ($7,881) ($4,177) ($4,262) ($16,743) ($12,327)Effective Gross Revenue $19.82 PSF $250,459 $244,340 $250,337 $265,523 $301,564 $330,067 $339,433 $334,416 $349,343 $377,612 $382,496
Operating Expenses: Management Fee $0.69 PSF $8,766 $8,552 $8,762 $9,293 $10,555 $11,552 $11,880 $11,705 $12,227 $13,216 $13,387 Insurance $0.58 PSF $7,319 $7,539 $7,765 $7,998 $8,238 $8,485 $8,740 $9,002 $9,272 $9,550 $9,837 Property Taxes $1.57 PSF $19,889 $20,485 $21,100 $21,733 $22,385 $23,056 $23,748 $24,461 $25,194 $25,950 $26,729 Repairs & Maintenance $2.25 PSF $28,447 $29,300 $30,179 $31,084 $32,017 $32,977 $33,967 $34,986 $36,035 $37,116 $38,230 Util ities $1.19 PSF $15,028 $15,478 $15,943 $16,421 $16,914 $17,421 $17,944 $18,482 $19,036 $19,608 $20,196
Total Operating Expenses $6.29 PSF $79,449 $81,354 $83,749 $86,529 $90,109 $93,491 $96,279 $98,636 $101,764 $105,440 $108,379
Net Operating Income $13.53 PSF $171,010 $162,986 $166,588 $178,994 $211,455 $236,576 $243,154 $235,780 $247,579 $272,172 $274,117Cap Rate 5.34% 5.09% 5.21% 5.59% 6.61% 7.39% 7.60% 7.37% 7.74% 8.51% 8.57%
Capital Expenditures:Tenant Improvements $0.00 PSF $27,163 $19,877 $21,223 $6,321 $15,752 $15,238 $39,782 $24,603 $7,328Leasing Commissions $0.00 PSF $16,209 $11,861 $17,013 $3,772 $9,399 $9,092 $23,739 $19,722 $4,373Capital Items/Reserve ($0.15) PSF $1,895 $1,952 $2,011 $2,071 $2,133 $2,197 $2,263 $2,331 $2,401 $2,473
Total Capital Expenditures ($0.15) PSF $1,895 $45,324 $33,749 $40,307 $12,226 $27,348 $26,593 $65,852 $46,726 $14,174
Cash Flow Before Debt $13.38 PSF $169,115 $117,662 $132,839 $138,687 $199,229 $209,228 $216,561 $169,928 $200,853 $257,998CFBD / Purchase Price 5.28% 3.68% 4.15% 4.33% 6.23% 6.54% 6.77% 5.31% 6.28% 8.06%Annual Debt Service ($156,018) ($135,218) ($135,218) ($135,218) ($135,218) ($135,218) ($135,218) ($135,218) ($135,218) ($135,218)
Cash Flow After Debt $13,097 ($17,556) ($2,379) $3,469 $64,011 $74,010 $81,343 $34,710 $65,635 $122,780CFAD / Equity 0.00% 1.17% -1.57% -0.21% 0.31% 5.72% 6.61% 7.26% 3.10% 5.86% 10.96%
All Cash IRR: - 3 Year 2.36% Residual Value: 3rd Year Residual Value: 5th YearAcquisition Price: $3,200,000 $253 PSF Leveraged IRR: - 3 Year -1.69% Cap 4th Year's NOI @ 5.84% $3,062,835 Cap 6th Year's NOI @ 5.84% $4,048,143
Capital Improvements: $0 $0 PSF All Cash IRR: - 5 Year 8.72% Less Sell ing Expense @ 2.00% ($61,257) Less Sell ing Expense @ 2.00% ($80,963)Year 1-2 TI's, LC's & Res: $0 $0 PSF Leveraged IRR: - 5 Year 14.55% Residual In Year 3: $238 PSF $3,001,578 Residual In Year 5: $314 PSF $3,967,180
Total Acquisition Costs: $3,200,000 $253 PSF All Cash IRR: - 7 Year 7.81% Ending Loan Balance: ($2,032,259) Ending Loan Balance: ($1,930,481)Loan Amount: $2,080,000 65% LTV Leveraged IRR: - 7 Year 12.13% Net Residual In Year 3: $77 PSF $969,319 Net Residual In Year 5: $161 PSF $2,036,699Initial Equity: $1,120,000 35% LTV All Cash IRR: - 10 Year 8.40%Interest Rate: 4.25% Leveraged IRR: - 10 Year 12.65% Residual Value: 7th Year Residual Value: 10th YearAmortization: 25 Years Cap 8th Year's NOI @ 5.84% $4,034,522 Cap 11th Year's NOI @ 5.84% $4,690,521Loan Fee 1.00% Cash-on-Cash - 3 Yr. Avg. -0.20% Less Sell ing Expense @ 2.00% ($80,690) Less Sell ing Expense @ 2.00% ($93,810)
Monthly Payment: $11,268 Cash-on-Cash - 5 Yr. Avg. 1.08% Residual In Year 7: $313 PSF $3,953,832 Residual In Year 10: $364 PSF $4,596,711Annual Payment: $135,218 Cash-on-Cash - 7 Yr. Avg. 2.76% Ending Loan Balance: ($1,819,691) Ending Loan Balance: ($1,634,841)Net Rentable Area: 12,635 SF Cash-on-Cash - 10 Yr. Avg. 3.92% Net Residual In Year 7: $169 PSF $2,134,141 Net Residual In Year 10: $234 PSF $2,961,870
Price Price PSFYear 1
Cap RateYear 2
Cap RateYear 3
Cap Rate3 Year Avg.
Cash-on-Cash5 Year Avg.
Cash-on-Cash5 Year
All Cash IRR5 Year
Leveraged IRR7 Year
All Cash IRR7 Year
Leveraged IRR10 Year
All Cash IRR10 Year
Leveraged IRR$3,100,000 $245 5.52% 5.26% 5.37% 0.20% 1.52% 9.48% 16.17% 8.37% 13.28% 8.81% 13.43%$3,150,000 $249 5.43% 5.17% 5.29% -0.01% 1.30% 9.10% 15.35% 8.09% 12.70% 8.60% 13.04%$3,200,000 $253 5.34% 5.09% 5.21% -0.20% 1.08% 8.72% 14.55% 7.81% 12.13% 8.40% 12.65%$3,250,000 $257 5.26% 5.01% 5.13% -0.40% 0.87% 8.36% 13.74% 7.54% 11.56% 8.20% 12.27%$3,300,000 $261 5.18% 4.94% 5.05% -0.58% 0.67% 8.00% 12.95% 7.28% 11.00% 8.00% 11.89%
Pricing Matrix (all IRR's include Yr. 1-2 TI's and LC's)
FAUNTLEROY SQUARE
MARKET OVERVIEW
Offering Memorandum | 12
Puget Sound Overview
Located in Washington State between Puget Sound and the Cascade Mountain Range, the
Seattle-Tacoma- Bellevue Metropolitan Statistical Area (Seattle MSA) is the 15th largest
MSA in the United States with an estimated 2013 population of approximately 3.6 million.
Comprised of King, Snohomish and Pierce Counties, the Seattle MSA is the primary eco-
nomic and cultural center of the Pacific Northwest.
The Seattle MSA is known for its natural beauty and abundant recreational opportunities.
Elevation ranges from sea-level along Puget Sound to more than 6,000 feet along the
eastern border of the Cascades. Mount Rainier, the highest point in Washington State at
14,411 feet, is located approximately 50 miles to the Southeast of Seattle and provides an
iconic backdrop to the Seattle and Tacoma skylines.
Set amidst the stunning beauty of the Pacific Northwest, the Greater Seattle area is a
world-class business location. It is an international center for manufacturing, high tech-
nology industries, aerospace services, international trade and tourism, and many more
companies at the cutting edge of innovation. Many large companies choose to locate
their headquarters in Seattle because of its international reputation for business quality.
The Seattle area is known for its strong business climate and skilled workforce. Expansion
Management magazine named Seattle the third-best place in America to expand or re-
locate a business. Several factors contribute to the region’s thriving business community,
from its entrepreneurial spirit to the education levels and skill sets of its workforce. The
region accommodates every major industry, making its workforce one of the most quali-
fied and diverse in the country. Many of today’s business leaders center their businesses
in the Seattle region.
MARKET OVERVIEW
Offering Memorandum | 13
Property Address Square Feet Date of Sale Sale Price Price per SF
2516 Alki Ave SW
Seattle, WA 6,812 SF 1/14/2015 $3,397,650 $498.77
3245-3427 California Ave SW
Seattle, WA3,656 SF 5/30/2014 $960,000 $262.58
4830-4832 California Ave SW
Seattle, WA7,627 1/6/2015 $1,750,000 $229.45
4151 Fauntleroy Way
Seattle, WA7,000 12/4/2013 $2,560,000 $365.71
4441 Fauntleroy Way SE
Seattle, WA6,848 6/17/2014 $2,135,000 $311.77
SUBJECT: 6413 Fauntleroy Way Seattle, WA
12,016 - $3,195,000 $265.89
Comparable Property Sales
2516 Alki Ave SW
4830-4832 California Ave SW
4151 Fauntleroy Way
Offering Memorandum | 14
Property Name & Address Date Size Term NNN Rate Increases TI’s
3426 California Ave SW 7/2/2016 2,332 SF N/A $19.80 NNN 3% N/A
4130 California Ave SW 3/4/2016 1,432 SF N/A $22.33 NNN 3% N/A
4711 44th Ave 10/2016 301 N/A $22.00 NNN 3% N/A
Comparable Property Leased Space
Property Name & Address Property Size Available Space Asking Rate
3511 SW Alaska St 8,000 SF 1,000 SF $26.34 NNN
3280 California Ave SW 5,644 SF 1,000 SF $26.00 NNN
5432 California Ave SW 4,742 SF 2,473 SF $33.00 FS
6521 California Ave SW 28,463 SF 1,066 SF $24.00 NNN
Comparable Property Available Space
EXHIBITS
Sound Associates offers personalized hearing care that includes diagnostic evaluations, education and rehabilitation tools to ensure the right hearing solutions are provided.
Conscious Choice Chiropractic has made the decision to be a leader in educating our community members on the benefits of chiropractic care, and leading a healthy life-
style.
Alki Tours is a travel agency that serves area residents and professional organizations.
Puget Sound Driving Academy provides beginning drivers of all ages with the skills and technique’s to become safe defensive drivers.
Preferred Orthotic and Prosthetic Services, Inc. has provided innovative and intuitive orthotic and prosthetic care to Puget Sound communities.
All-State Insurance- Phillip Plenkovich works as a personal financial representative at this West Seattle location.
HIIT Lab is a Seattle are gym that provides clients with high intensity interval training.
Cuddle Club offers massages, reiki and other related services.
Bolsa Nail Salon offers manicures, pedicures and other personal esthetician services.
Merry Maids is a locally owned and operated business with 29 years of experience, with a team consists of 17 highly trained staff members who are dedicated to creating
clean indoor environments that meet their clients’ high standards.
Offering Memorandum | 15
Tenant Descriptions
Local Demographics
Offering Memorandum | 16
3 mi.
2 mi.
1 mi.
Unive rsity L in
k
Centra l Link
Downtown Seattle to West Seattle
Fauntleroy to Southworth
Fauntleroy to Vashon
Kingston to Downtown Seattle
Seattle to Bainbridge Island
Seattle to Bremerton
Seattleto
Vashon
Medina
Seattle
Burien
MercerIsland
SeaTac
Tukwila
Renton
E Cherry St
S AlbroPl
S 96th St
Ellis
Ave
S
S Henderson St
S Michigan St
Fair
view
Ave
N
Cal
iforn
ia A
ve S
W LakeW
ashingt
onBlv dS
24th
Ave
S
S Genesee St
StateH
wy
51
9
51st
Ave
S
8th Ave SW
Lake
side
Ave
S
S Spokane St
S Orcas St
S Cloverdale St
SW 102nd St
Marin e
ViewDrSW
12th
Ave
SW
Madison St
5th
Ave
S
S Alaska St
4th Ave
31st
Ave
S
E Union StS
Columbi a n Way
E John St
SW 107th St
E Yesler Way
Myers
Way
S
S 116th St
Olive Way
20t hA
v eS
Roy St
E Denny Way
Sylva n W ayS W
23rd
Ave
Hig
hlan
dPa
rk Way SW
1st Ave
Broa
dway
4th
Av e
S
50th
Ave
S
WMarginal Pl S
30th
Ave
42nd
Ave
S
WMarginal W
aySW
S Bangor St
SW Dakota St
Tukw
ilaIn
tern
atio
nalB
lvd
SW Genesee St
2nd Ave
BeachDrSW
SW Holden St
Swift Ave S
James St
Boren Ave
S Lucile St
SW Henderson St
E Jefferson St
Wall
St
Yesler Way
Des Moin
esM
emo r
i al D
r
SW Trenton St
Union St
S 136th St
Delridg e
Way
SW
GlendaleW
ayS
Sew
ard
Park
Ave
S
Western Ave
14th
Ave
S
Faun
tlero
yW
aySW
S Myrtle St
35th
Ave
SW
19th
Ave
S 102nd
St
S 140th St
5th
Ave
SE O
liveW
ay Broa
dway
E
Military
RdS
E Marginal Way
S
8th
Ave
S
Lake
Was
h ing
ton
Blvd
23rd
Ave
E
SW 152nd St
C
arke
ekD
rS
5th
Ave
N
1st A
ve N
Wilson Ave
S
16th
Ave
S
S Rya n Way
S 156th St
S 112th St
16th
Ave
SW
12thA
veS
SW Roxbury St
Westlake A
ve N
East
lake
Ave
E
S 128th St
SW Barton St
SW 139th St
21st
Ave
SW
Elliott Ave W
S 1 56th Way
SW Findlay St
SW Thistle St
Renton Ave S
S 146th St
Cor
son
Ave
S
SW 148th St
S 124th St
39th
Ave
SW
9th
Ave
SW
Rainier Ave S
Am
baumBlvd
SW
Interurban Ave S
E Mad
ison St
AmbaumBlvd
S
SW 136th St
SW A valo
nW
ay
15thA
veS
Air
port
Expy
S McClellan St
S Othello St
SW 128th St
SW 116th St
SW 108th St
Sylveste
r Rd
SW
Southcenter B lvd
SW Ad miral Way
48th
Ave
S W
SW 106th St
Maplew
ildAv e
SW
Alki Ave SW
WM
ercer W
ay
23rd
Ave
S
2 8th
Ave
SW
1st A
ve S
Sounder Everett/Seattle
Sounder Tacoma/Seattle
StateH
wy
99
Airport W
ayS
State Hwy 900
Boeing Acc
essRd
Marti n
LutherKing
JrW
ayS
BeaconA
veS
S 160th St
So uthce nt erPk
wy
Inte
rnat
iona
l Blv
d
SW Spok
aneSt
Waters Ave S
1st A
ve S
99
599
518
99
509
405
5
90
5
LakeWashington
PugetSound
F:\Projects\SEA\Olson\6413FauntleroyWaySW\Aerial.mxd 9/16/2015 12:25:04 PM ltilley
0 0.35 0.7 1.05 1.4 1.750.175Miles
6413 Fauntleroy Way SW1420 Fifth Avenue, Suite 2600, Seattle, WA 98101 (206) 682-0666
15 Min Drive Time1 Mile 2 Mile 3 Mile 15 Min. Drive Time
Population Summary2016 Total Population 22,977 60,329 95,147 165,423
2016 Group Quarters 177 500 789 3454
2021 Total Ppoulation 25,378 65,614 103,343 178,522
Household Summary2016 Families 5,236 13,915 22,020 67,910
2016 Average Family 2.98 2.96 2.98 2.39
2021 Families 5,741 15,037 23,787 39,633
2021 Average Family 3.02 2.98 2.99 3.12
Housing Unit Summary2016 Housing Units 10,726 28,115 44,457 73,287
Owner Occupied 52.2% 55.1% 54.2% 50.4%
Renter Occupied 47.2% 39.3% 39.2% 42.3%
2021 Housing Units 11,659 30,229 47,762 78,414
Owner Occupied 52.0% 54.8% 53.9% 50.2%
Renter Occupied 43.3% 39.9% 39.8% 42.8%
Median Houshold Income2016 $68,993 $72,759 $71,296 $62,939
2021 $79,452 $82,255 $80,764 $72,192
Median Home Value2016 $457,872 $418,549 $421,680 $387,543
2021 $463,578 $426,269 $430,242 $396,822
Median Age2010 38.9 38.6 39.0 38.3
2016 39.5 39.5 40 39.4
2021 39.6 39.5 40.3 39.8
2016 Population by SexMales 10,861 28,988 45,948 82,714
Females 12,116 31,341 49,199 82,709
2021 Population by SexMales 12,046 31,604 50,014 89,172
Females 13,332 34,010 53,329 89,350
2016 Population 25+ by Educational AttainmentTotal 16,620 43,967 69,420 119,513
High School Graduate 12.60% 12.00% 12.20% 14.30%
Associate Degree 9.5% 9.7% 9.6% 9.0%
Bachelor's Degree 32.3% 32.6% 31.8% 27.1%
Graduate/Professional 17.7% 16.2% 16.0% 13.3%
Presented By:
GREG MILLERDDirector
(206) 521 0237
1420 Fifth AvenueSuite 2600Seattle, Washington 98101
T +1 206 682 0666
F +1 206 521 0298www.comre.com
