Despite rumors to the contrary, the former BMW Seattle dealership at 714 E. Pike St. is not on the verge of becoming Capitol Hill’s newest nightclub, according to realtor Ron Sudderth of Urban Commercial Properties. He said that three potential nightclub operators, and many other potential tenants, have considered leasing space in the building, but no leases are currently pending.

Sudderth said that a nightclub occupying the former auto showroom would be “way down the road” and that currently it is only the subject of internal discussions.  “It’s certainly not anything official, certainly not anything active,” he said.  “As far as we know, it’s not real.”

The 28,350-sq. ft. building, located between Boylston and Harvard Streets, has been vacant since last September, when BMW Seattle relocated to 1002 Airport Way S. It’s an example of a property that could be impacted by expanded protections put in place by the next phase of the Pike/Pine conservation district legislation being pursued by the Seattle City Council.

Other possible tenants reported to have expressed interest in the space include a convenience store, a restaurant/bar, a catering company, offices, a distillery, and even Money Tree prior to their unsuccessful attempt to locate further east on Pike. “Most of [the possible tenants] we think the neighborhood would love,” said Sudderth.  “But we’ve got economic problems trying to fit small people into a big mouse trap.”

One frequently shared rumor from the CHS mailbag is that a popular Hill gay bar that must make way for planned development at its current home is planning to make the former BMW dealership its home but CHS has not yet been able to confirm their interest. But, as Sudderth notes, even if there is interest, there is no deal yet.

Sudderth said that a number of obstacles are delaying the eventual occupancy of the building, but chief among those is money, or rather the lack thereof.  Renovations that would allow the building to accommodate a range of commercial tenants – such as constructing new bathrooms, erecting walls to subdivide the space, and updating the plumbing, electrical, and natural gas distribution – are costly, and inquiring potential tenants have been unwilling to pay the $20-per-square-foot rents needed to make the project feasible.  According to Sudderth, commercial spaces on Broadway currently command $30-per-square-foot rents, and those on Pike go for $25.

The cavernous building includes close to 40-foot ceilings and a mezzanine office area that looks over the main floor.  Sudderth said, though, that the mezzanine may need to be demolished if a tenant cannot be found for that space.

BMW Seattle’s former home is not the only defunct auto showroom sitting vacant on East Pike Street.  In April, CHS covered recent efforts by the First Covenant Church to find tenants for the former University Honda, located a couple blocks down the street between Crawford and Summit Avenues.  However, the neighborhood also features numerous buildings which once housed auto-related uses that have since been successfully converted.