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    Seattle Retail and Gas Station Title is generated by Realmo AI

    101 NE 50th St, Seattle, WA 98105

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    Legacy corner asset with retail, gas station, and redevelopment potential.

    Type:Business for Sale, Land, Mixed Use, Multifamily, Retail
    Property size:
    4,057 SF
    Price / SF:
    $1,232/SF
    Added:
    Mar 3, 2026
    Days on Market:
    70
    Last Refresh:
    Mar 16 at 2:15 pm

    Property Features for 101 NE 50th St

    General Information

    Standard status
    Active
    Size
    4,057 SF
    Property subtype
    Business for Sale, Land, Mixed Use, Multifamily, Retail

    Building Details

    Year Built
    1987

    We can help!

    Listing Contact
    Brian Leibsohn

    Listing agent Brian Leibsohn License #18848

    Listing office Linc Properties

    Listing date Mar 3, 2026

    Source Crexi

    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 Linc Properties

    HighLights

    • Prime corner location at the intersection of two desirable Seattle neighborhoods.
    • Significant long‑term multifamily/mixed‑use redevelopment potential due to NC‑140 (M) zoning.
    • Stable near‑term income from existing 7‑Eleven and Salon leases expiring in June 2030.
    • Rare opportunity to acquire a legacy asset, offered for sale for the first time in 30 years.
    • Established retail and gas station operation since 1965, demonstrating enduring strength.
    • Potential for lease renewal, re‑tenanting, or owner‑user occupancy upon lease expiration.

    Overview

    This legacy corner asset, known as 50th Street Plaza, presents a rare opportunity. It is located at the intersection of two desirable Seattle neighborhoods. The property has been a retail and gas station since 1965. The current improvements were constructed in 1987. The existing leases for the 7-Eleven and Salon expire in June 2030, providing stable near-term income. The property is zoned NC-140 (M), allowing for potential long-term multifamily or mixed-use redevelopment, aligning with Seattle’s urban density and transit-oriented growth initiatives. The property size is 4057 square feet.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Amazon Hub Locker ... Postal Service Keycafe Shopping Center & Mall Citibank ATM Atm KeyMe Locksmiths Locksmith 7-Eleven Grocery & Convenience Store

    Suggested Use

    Law Firm Restaurant Real Estate Agency Dental Office Spa & Massage Center Hair Salon Nail Salon Food Market Grocery & Convenience Store Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Seattle
    County
    King
    State
    Washington
    Longitude
    -122.3569105
    Latitude
    47.6648015

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    FAQs

    What type of property is this?
    Gas station - Legacy corner asset with retail, gas station, and redevelopment potential.
    Where is this gas station located?
    The property is located at 101 NE 50th St Seattle, WA.
    What is the asking price?
    The asking price for this property is $5,000,000.
    What are key features of this property?
    This property features: Prime corner location at the intersection of two desirable Seattle neighborhoods.; Significant long‑term multifamily/mixed‑use redevelopment potential due to NC‑140 (M) zoning.; Stable near‑term income from existing 7‑Eleven and Salon leases expiring in June 2030.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Brian Leibsohn
    Real Estate License ID: 18848
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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