1471 85th St, Seattle, WA 98117
Mixed-use building in Ballard with high foot traffic and income potential.
- Added:
- Apr 8, 2025
- Days on Market:
- 434
- Last Refresh:
- May 10 at 9:23 pm
Property Features for 1471 85th St
General Information
- Standard status
- Active
- Size
- 8,229 SF
- Property subtype
- Commercial
Building Details
- Year Built
- 1949
Listing agent ERIC NISSEN
Listing office REAL PROPERTY ASSOCIATES
Listing date Apr 8, 2025
Source Corcoran
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HighLights
- High‑traffic location next to Safeway at a busy intersection.
- Significant investment opportunity with 8458 rentable square feet.
- Mixed‑use building featuring 3 street‑level units and 1 large residential apartment.
- Existing long‑term tenant in the hookah lounge with a lease until 2028 and an option to extend.
- Potential for increased rental income due to under‑market rents.
- One 1500sf vacant unit available for immediate occupancy or lease.
Overview
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $261.7k | $31.80 |
| − Vacancy | −$9.2k | −$1.11 |
| EGI | $252.5k | $30.69 |
| − OpEx | −$113.6k | −$13.81 |
| NOI | $138.9k | $16.88 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- Seattle
- County
- King
- State
- Washington
- Longitude
- -122.376
- Latitude
- 47.6904
