Multi-Suite Automotive Service
For Sale
Contact for pricing
14711 15th Ave NE, Shoreline, WA 98155
Automotive center with three occupied suites totaling 6,308 RSF, ample parking, and CB zoning with a proposed 70' height.
Property Size6,308 SF
Price / SF$507.29
Days on Market519
Property Features for 14711 15th Ave NE
General Information
Standard status
Active
Size
6,308 SF
Total Parking Spaces
20
Property subtype
RETAIL
Zoning
CB
Building Details
Tenancy
Multi
Listing Agency:
Lee & Associates Commercial Real Estate Services
(425) 454-4242
Listed By:
Chris Aberg
(206) 773-2683
Source:
Moodyscre
Added: Apr 8, 2025
Changed: Aug 15
Last Checked: Sep 7 at 7:01AM
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 Lee & Associates Commercial Real Estate Services
Investment Insights
Based on property information with market context.
This 6,308 RSF automotive center is configured with three separate suites: Suite A (1,640 SF), Suite B (3,406 SF), and Suite C (1,262 SF). The property is currently occupied by three different auto service businesses and is shown by appointment only, with instructions not to disturb tenants.
The building is highly visible along 15th Ave NE and features multiple building signs, including a large pole sign. It is located on the SE corner of 15th Ave NE and NE 148th St, one block north of the Seattle City limits in the City of Shoreline.
The property offers 20 parking stalls, and it is currently zoned CB (City of Shoreline) with a 60' height limit; it is earmarked to be upzoned to a 70' height.
The building is highly visible along 15th Ave NE and features multiple building signs, including a large pole sign. It is located on the SE corner of 15th Ave NE and NE 148th St, one block north of the Seattle City limits in the City of Shoreline.
The property offers 20 parking stalls, and it is currently zoned CB (City of Shoreline) with a 60' height limit; it is earmarked to be upzoned to a 70' height.
Key Highlights
- 6,308 RSF automotive center with three separate occupied suites: 1,640 SF (A), 3,406 SF (B), and 1,262 SF (C).
- Ample parking with 20 stalls (3.17 stalls per 1,000 SF).
- Strong visibility at the SE corner of heavily traveled 15th Ave NE and NE 148th St, with multiple building signs and a large pole sign.
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
$112,842
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
3.53%
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%
$2,256,840
$2.3M
Cap Rate 7%
$1,612,029
$1.6M
Cap Rate 9%
$1,253,800
$1.3M
Market Conditions
NOI Build-Up for 6,308 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
$166.5K $26.40/SF
− Vacancy
−$5.3K −$0.84/SF
EGI
$161.2K $25.56/SF
− OpEx
−$48.4K −$7.67/SF
NOI
$112.8K $17.89/SF
Area
King County, WA
Vacancy
3.20%
Lease Rate
$26.40 /SF/Yr
Expense Ratio
30.00%
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%
$2,256,840
Cap Rate 7%
$1,612,029
Cap Rate 9%
$1,253,800
Alternative Uses
Best Use
Retail
$1.61M
$1.41M – $1.88M
NOI $112,842 @ 7.0% cap · market cap 3.53%
Second Best
Industrial
$906.3K
$793.0K – $1.06M
NOI $63,442 @ 7.0% cap · market cap 1.98%
Theoretical Best
Office A
$2.53M
$2.21M – $2.95M
NOI $176,856 @ 7.0% cap · market cap 5.53%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
392
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 98155, WA
35,948
Population
14,526
Households
2.5
Avg Household Size
41
Median Age
56%
College-Educated
95%
High-School Grad
7.5 sq mi
ZIP Area
4,793
Density / Sq Mi
$131,911
Median Household Income
$67,323
Median Earnings
$2,016
Median Rent
$758,000
Median Home Value
Market
Vacancy Rate% for Retail in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- CHEVY AUTO REPAIR SEATTLE — 14501 15th Ave NE #1, Shoreline, WA 98155
- SEATTLE TOYOTA REPAIR & SERVICE — 14501 15th Ave NE # A3, Shoreline, WA 98155
- FORD SERVICE & REPAIR SEATTLE — 14501 15th Ave NE B-2, Shoreline, WA 98155
- Paulco Automotive Repair — 14711 15th Ave NE, Shoreline, WA 98155
- Chuck's Auto Repair — 14501 15th Ave NE, Shoreline, WA 98155
Frequently Asked Questions
What type of property is this?
Auto shop - Automotive center with three occupied suites totaling 6,308 RSF, ample parking, and CB zoning with a proposed 70' height.
Where is this auto shop located?
The property is located at 14711 15th Ave NE Shoreline, WA.
What is the asking price?
The asking price for this property is $3,200,000.
What are key features of this property?
This property features: 6,308 RSF automotive center with three separate occupied suites: 1,640 SF (A), 3,406 SF (B), and 1,262 SF (C).; Ample parking with 20 stalls (3.17 stalls per 1,000 SF).; Strong visibility at the SE corner of heavily traveled 15th Ave NE and NE 148th St, with multiple building signs and a large pole sign.
