Gyros Time Restaurant with Covered
For Sale
$299,950
10400 Greenwood Ave N, Seattle, WA 98133
Operating restaurant with commercial kitchen equipment and an existing lease structure.
Property Size1,100 SF
Price / SF$272.68
Days on Market34
Property Features for 10400 Greenwood Ave N
General Information
Standard status
Active
Size
1,100 SF
Property subtype
Business Opportunity
Restaurant
Hood Type
Type I
Commercial Hood
Yes
Patio
Yes
Additional Details
Business Included
Yes
Listing Agency:
Better Properties Kent LLC
(206) 240-5035
Listed By:
Surinder Khela
Source:
Navidirealty
Added: Jul 26
Changed: Aug 28
Last Checked: Aug 25 at 5:14AM
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 Better Properties Kent LLC
Investment Insights
Based on property information with market context.
Gyros Time is an operating restaurant at 10400 Greenwood Ave N in Seattle. The premises measure approximately 1,100 SF and include covered outdoor seating, a commercial kitchen, and an established restaurant operation dating to 2017.
Kitchen infrastructure includes a 10' Class I hood, three-compartment sink, handwashing sink, mop sink, ice maker, two freezers, and two refrigerators. The business also includes a Clover POS system. The lease has a 5-year term with another 5-year option, and the lease structure is NNN.
Kitchen infrastructure includes a 10' Class I hood, three-compartment sink, handwashing sink, mop sink, ice maker, two freezers, and two refrigerators. The business also includes a Clover POS system. The lease has a 5-year term with another 5-year option, and the lease structure is NNN.
Key Highlights
- Gyros Time restaurant business established in 2017
- Approximately 1,100 SF plus covered outdoor seating
- 10' Class I Hood and commercial kitchen infrastructure
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
$20,839
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
6.95%
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%
$416,780
$416.8K
Cap Rate 7%
$297,700
$297.7K
Cap Rate 9%
$231,544
$231.5K
Market Conditions
NOI Build-Up for 1,100 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
$28.6K $26.04/SF
− Vacancy
−$859 −$0.78/SF
EGI
$27.8K $25.26/SF
− OpEx
−$6.9K −$6.31/SF
NOI
$20.8K $18.94/SF
Area
ZIP 98133
Vacancy
3.00%
Lease Rate
$26.04 /SF/Yr
Expense Ratio
25.00%
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%
$416,780
Cap Rate 7%
$297,700
Cap Rate 9%
$231,544
Alternative Uses
Best Use
Specialty Retail
$297.7K
$260.5K – $347.3K
NOI $20,839 @ 7.0% cap · market cap 6.95%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$313.2K
$274.0K – $365.4K
NOI $21,923 @ 7.0% cap · market cap 7.31%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Yes
Commercial hood
Location Intelligence
Trade Area within ½ mile
784
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 98133, WA
50,720
Population
24,730
Households
2.1
Avg Household Size
39
Median Age
51%
College-Educated
94%
High-School Grad
7.1 sq mi
ZIP Area
7,144
Density / Sq Mi
$92,371
Median Household Income
$60,328
Median Earnings
$1,794
Median Rent
$719,100
Median Home Value
Market
Vacancy Rate% for Retail in Seattle, WA
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Conventional restaurant - Operating restaurant with commercial kitchen equipment and an existing lease structure.
Where is this conventional restaurant located?
The property is located at 10400 Greenwood Ave N Seattle, WA.
What is the asking price?
The asking price for this property is $299,950.
What are key features of this property?
This property features: Gyros Time restaurant business established in 2017; Approximately 1,100 SF plus covered outdoor seating; 10' Class I Hood and commercial kitchen infrastructure
