South Seattle Industrial
For Sale
Contact for pricing
836 Poplar Pl S, Seattle, WA
8,000 SF industrial building in South Seattle for sale.
Property Size8,000 SF
Lot Size0.09 Acres
Price / SF$155.63
Days on Market1224
Property Features for 836 Poplar Pl S
General Information
Standard status
Active
Size
8,000 SF
Lot size
0.09 Acres
Property subtype
INDUSTRIAL
Listing Agency:
Coldwell Banker Commercial Danforth
(253) 273-6474
Listed By:
Dominic Temmel · License #102158
(253) 273-6474
Source:
Moodyscre
Added: Apr 17, 2023
Changed: Aug 21
Last Checked: Aug 22 at 1:19PM
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 Coldwell Banker Commercial Danforth
Investment Insights
Based on property information with market context.
This 8,000 square foot industrial building is available for sale in South Seattle. The building is situated on two levels, with access from Poplar Place South on the upper level and South Dean Street on the lower level. The NC-3 zoning allows for a variety of commercial uses. The lower level is equipped with sprinklers. The building also features 3-phase power, a grade-level door on the upper level, and a framed door on the lower level. The property offers convenient access to the South Dearborn Street exit from I-5 and the Rainier Avenue exit from I-90.
Key Highlights
- Prime South Seattle location with easy access to I‑5 and I‑90
- Versatile NC‑3 zoning allows for a variety of commercial uses
- 8,000 SF building with two‑level access from separate streets
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
$87,930
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
7.06%
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%
$1,758,600
$1.8M
Cap Rate 7%
$1,256,143
$1.3M
Cap Rate 9%
$977,000
$977.0K
Market Conditions
NOI Build-Up for 8,000 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
$112.3K $14.04/SF
− Vacancy
−$8.9K −$1.11/SF
EGI
$103.4K $12.93/SF
− OpEx
−$15.5K −$1.94/SF
NOI
$87.9K $10.99/SF
Area
Seattle, WA
Vacancy
7.90%
Lease Rate
$14.04 /SF/Yr
Expense Ratio
15.00%
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%
$1,758,600
Cap Rate 7%
$1,256,143
Cap Rate 9%
$977,000
Alternative Uses
Best Use
Warehouse
$1.26M
$1.10M – $1.47M
NOI $87,930 @ 7.0% cap · market cap 7.06%
Second Best
Industrial
$1.03M
$905.2K – $1.21M
NOI $72,413 @ 7.0% cap · market cap 5.82%
Theoretical Best
Office A
$2.41M
$2.11M – $2.81M
NOI $168,478 @ 7.0% cap · market cap 13.53%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,021
Businesses Nearby
Explore this area
Business Placement
Market
Vacancy Rate% for Industrial in Seattle, WA
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Industrial property - 8,000 SF industrial building in South Seattle for sale.
Where is this industrial property located?
The property is located at 836 Poplar Pl S Seattle, WA.
What is the asking price?
The asking price for this property is $1,245,000.
What are key features of this property?
This property features: Prime South Seattle location with easy access to I‑5 and I‑90; Versatile NC‑3 zoning allows for a variety of commercial uses; 8,000 SF building with two‑level access from separate streets
