Sign Up Successful!
You now have access to more from Realmo!
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    115-135 S Lucile St Seattle, WA 98108

    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    8,700 SF warehouse with fenced yard near Downtown Seattle.

    Property size:
    8,700 SF
    Lot size:
    0.69 Acres

    Property Features for 115-135 S Lucile St

    General Information

    Size
    8,700 SF
    Lot size
    0.69 Acres

    We can help!

    Listing Contact
    Hans Swenson
    Source: Moodyscre

    Listing Agency: NAI Puget Sound Properties Listing Agent: Hans Swenson

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Seattle Georgetown Warehouse with Yard

    Located in the Seattle Georgetown area, this property offers 8,700 square feet of space, including approximately 1,200 square feet of mezzanine. The property features a 5,000 square foot fenced yard and a clear height of 16 feet. It is equipped with one grade-level loading door, heavy power, and multiple floor drains. The location provides convenient access to Downtown Seattle and major highways, including I-5, SR-99, and I-90. The intended use of the property is for warehouse and industrial purposes.
    Location Intelligence

    Current Use by Public Records

    Warehouses

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Gym & Fitness Center Skin Care Clinic Auto Repair Shop

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

    Similar Places Nearby

    Seattle Car Storage, Self-Storage at U-Haul, Next To You Storage Units

    Location Insight

    • Map
    • Local Demand
    City
    Seattle
    County
    King
    State
    Washington
    Longitude
    -122.332884
    Latitude
    47.5531716

    Nearby Similar for Lease

    • Sponsored
      New
      Contact for pricing

      Seattle City

      Discover many ways to work your way in Seattle City
      1420 5Th Ave, Seattle, WA 98101
      View Details
    • Contact for pricing
      1,391 SF

      Prime Retail/Office Space Available

      New mixed-use development in vibrant Seattle neighborhood.
      412 NW 65Th St, Seattle, WA 98117
      View Details
    • $25 SF/Yr
      928 SF

      Prime Wallingford Retail Space

      Inviting retail space in Seattle's vibrant Wallingford neighborhood.
      254 NE 45Th St, Seattle, WA 98105
      View Details
    • $28 SF/Yr
      2,788 SF

      Retail Space in Yesler Towers

      Retail spaces available in mixed-use tower, delivery Spring 2024.
      809 S Washington St, Seattle, WA 98104
      View Details
    • Contact for pricing

      Adaptable Space in Burien, WA

      Versatile property suitable for office, light manufacturing, or distribution.
      18319 8Th Ave S, Seattle, WA 98148
      View Details
    • Contact for pricing
      2,239 SF

      Freestanding Drive-Thru Restaurant Opportunity

      2,239 SF drive-thru ready for coffee or QSR concepts.
      10256 16Th Ave SW, Seattle, WA 98146
      View Details
    • Contact for pricing
      1,250 SF

      Professionally Configured Uptown Office Space

      Ground-floor office space in walkable Uptown neighborhood near Seattle Center.
      200 Roy St, Seattle, WA 98109
      View Details
    • Contact for pricing
      5,000 SF

      Turnkey Restaurant Space in Astra Hotel

      5,000 SF restaurant space for lease in Astra Hotel.
      1000 Thomas St, Seattle, WA 98109
      View Details
    • Contact for pricing
      95,000 SF

      Prime Seattle Commercial Office Space

      30-story office building with modern amenities and convenient transit access.
      1501 4Th Ave, Seattle, WA 98101
      View Details
    • Contact for pricing
      9,032 SF

      Retail Space in Grand Street Commons

      Mixed-use retail space available in Seattle's Grand Street Commons.
      1750 22Nd Ave S, Seattle, WA 98112
      View Details
    • Contact for pricing
      2,901 SF

      Prime Retail Space in Seattle

      Ground-floor commercial space in a vibrant, growing Seattle neighborhood.
      917 NE 63Rd St, Seattle, WA 98115
      View Details
    • $25 SF/Yr
      2,110 SF

      Belltown Retail/Office Space Available

      Retail or office space in a high-traffic Belltown location.
      2100-2106 3Rd Ave, Seattle, WA 98121
      View Details

    FAQs

    What type of property is this?
    Warehouse - 8,700 SF warehouse with fenced yard near Downtown Seattle.
    Where is this warehouse located?
    The property is located at 115-135 S Lucile St Seattle, WA.
    What is the lease rate?
    The lease rate is $1.40 SF/Yr.
    What are key features of this property?
    This property features: - Prime location in desirable Seattle Georgetown, near major transportation routes and Downtown Seattle.; - Substantial 8,700 SF total space with a 1,200 SF mezzanine.; - Secure 5,000 SF fenced yard.
    (425) 586-5630 Call to check price and availability
    Request Owner's contact information
    115-135 S Lucile St Seattle, WA 98108
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    115-135 S Lucile St
    Seattle, WA 98108
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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.

    More about this property
    115-135 S Lucile St Seattle, WA 98108
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Hans Swenson
    (425) 586-5630 (425) 586-5600
    Learn more
    Google sign-in failed. Please try again or use another login method.