Clear-Span Warehouse with
For Sale
Contact for pricing
10001 Lake City Way NE, Seattle, WA 98125
Two-floor industrial facility with clear-span warehouse, heated space, and dock & grade-level loading.
Property Size19,146 SF
Lot Size1.41 Acres
Price / SF$285.96
Days on Market157
Property Features for 10001 Lake City Way NE
General Information
Standard status
Active
Size
19,146 SF
Total Parking Spaces
23
Lot size
1.41 Acres
Property subtype
INDUSTRIAL
Zoning
NC3-55
Site & Location
Traffic Count
36,000 vehicles/day
Fenced Yard
Yes
Warehouse & Industrial
Clear Height
25 ft
Dock-High Doors
1
Drive-In Doors
1
Heavy Power
Yes
Amenities
pylon signage
billboard
fully fenced and secured site
fully insulated and heated warehouse
Building Details
Year Built
1978
Year Renovated
2007
Stories
2
Listing Agency:
Colliers International WA, LLC
(425) 453-4545
Listed By:
Talor Okada
(425) 492-5145
Source:
Moodyscre
Added: Apr 10
Changed: Aug 20
Last Checked: Sep 13 at 7:22AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Colliers International WA, LLC
Investment Insights
Based on property information with market context.
This two-floor industrial property totals 19,146 SF, built in 1978 and remodeled in 2007, featuring an 8,460 SF warehouse area, 6,955 SF main office, and 2,850 SF mezzanine office. The site also includes an 835 SF out storage building. The clear-span warehouse area is reported at 21’–25’ clear height and is fully insulated and heated, with 3-phase power service available. Warehouse loading includes dock and grade-level doors, each measuring 10’ x 12’, supporting flexible receiving operations.
The property sits on 1.41 acres (61,420 SF) and is zoned NC3-55 (Neighborhood Commercial 3). An existing pylon sign is located on Lake City Way NE, with traffic stated at 36,000+ VPD. The site is fully fenced and secured, with two ingress/egress points and 23 striped parking stalls, with noted potential to stripe additional stalls.
The owner-user is described as occupying within 6 months. The remarks also reference a billboard on site that is expected to produce additional income, subject to details to be provided by the listing brokers.
The property sits on 1.41 acres (61,420 SF) and is zoned NC3-55 (Neighborhood Commercial 3). An existing pylon sign is located on Lake City Way NE, with traffic stated at 36,000+ VPD. The site is fully fenced and secured, with two ingress/egress points and 23 striped parking stalls, with noted potential to stripe additional stalls.
The owner-user is described as occupying within 6 months. The remarks also reference a billboard on site that is expected to produce additional income, subject to details to be provided by the listing brokers.
Key Highlights
- 19,146 SF total between two floors (built 1978; remodeled in 2007) with 8,460 SF warehouse, 6,955 SF main office, and 2,850 SF mezzanine office
- Clear‑span warehouse with 21’–25’ clear height plus dock and grade‑level loading (each 10’x12’)
- 1.41‑acre fenced and secured site (161,420 SF) with two ingress/egress points and 23 striped parking stalls
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$329,504
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.02%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$6,590,080
$6.6M
Cap Rate 7%
$4,707,200
$4.7M
Cap Rate 9%
$3,661,156
$3.7M
Market Conditions
NOI Build-Up for 19,146 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$420.4K $21.96/SF
− Vacancy
−$32.8K −$1.71/SF
EGI
$387.7K $20.25/SF
− OpEx
−$58.1K −$3.04/SF
NOI
$329.5K $17.21/SF
Area
ZIP 98125
Vacancy
7.80%
Lease Rate
$21.96 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$6,590,080
Cap Rate 7%
$4,707,200
Cap Rate 9%
$3,661,156
Alternative Uses
Best Use
Office B
$4.71M
$4.12M – $5.49M
NOI $329,551 @ 7.0% cap · market cap 6.02%
Second Best
Warehouse
$4.71M
$4.12M – $5.49M
NOI $329,504 @ 7.0% cap · market cap 6.02%
Theoretical Best
Specialty Retail
$6.18M
$5.40M – $7.21M
NOI $432,336 @ 7.0% cap · market cap 7.90%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
25 ft
Clear height
1
Dock-high doors
1
Drive-in doors
36,000 VPD
Traffic count
Yes
Heavy power
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
509
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 98125, WA
42,965
Population
21,493
Households
2
Avg Household Size
37
Median Age
61%
College-Educated
94%
High-School Grad
5.4 sq mi
ZIP Area
7,956
Density / Sq Mi
$96,725
Median Household Income
$61,552
Median Earnings
$1,856
Median Rent
$844,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Seattle, WA
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Similar Off Market Nearby
- Northgate Self Storage — 10805 Roosevelt Way NE, Seattle, WA 98125
- Public Storage — 10821 Lake City Way NE, Seattle, WA 98125
Frequently Asked Questions
What type of property is this?
Warehouse - Two-floor industrial facility with clear-span warehouse, heated space, and dock & grade-level loading.
Where is this warehouse located?
The property is located at 10001 Lake City Way NE Seattle, WA.
What is the asking price?
The asking price for this property is $5,475,000.
What are key features of this property?
This property features: 19,146 SF total between two floors (built 1978; remodeled in 2007) with 8,460 SF warehouse, 6,955 SF main office, and 2,850 SF mezzanine office; Clear‑span warehouse with 21’–25’ clear height plus dock and grade‑level loading (each 10’x12’); 1.41‑acre fenced and secured site (161,420 SF) with two ingress/egress points and 23 striped parking stalls
