An iconic piece of Seattle's waterfront is for sale

SEATTLE - The massive, 122-year-old Pier 70 on Seattle's waterfront is now up for sale.

One of only four privately owned piers along the downtown waterfront, offices and restaurants line the property on 2801 Alaskan Way.

Pier 70 (King County)

Keep reading to find out how much the iconic pier is going for and the history behind it.

How much is Seattle's Pier 70 worth?

With no officially listed sale price, the listing says the property will go to the highest bidder.

King County's 2024 assessed tax value of the two parcels making up Pier 70 is over $37 million. The front parcel is assessed at $9,969,800, while the larger parcel backing up to the water was appraised at $27,270,600.

As with residential properties, the seller will likely fetch a much higher final price than official county assessments.

The site, currently 36% leased, offers significant leasing upside, with approximately 70,000 square feet of vacancy available for new tenants.

Pier 70 is touted as a bolstered investment opportunity for those looking to capitalize on Seattle’s historical rental growth and the city’s ongoing development boom.

One feature locals will recognize is the perk of a 116-space, dedicated parking garage. Sellers hope the easy tenant and visitor access appeals to the right buyer.

History of Pier 70 in Seattle

Built in 1902, the pier served as a primarily functional port for many decades. Prior to World War II, it was even known more commonly as Pier 14, according to the City of Seattle.

A series of renovations would eventually turn the pier into a hub for retail and restaurant spaces.

The most transformative renovation came in 1999 when it entered a new phase as a landmark commercial destination for Downtown Seattle, according to the Pier 70 website.