Ground-Floor Mixed-Use
New
For Sale
$2,080,000
1201 S Jackson St, Seattle, WA 98144
Retail occupies the street level, with office space in the basement.
Property Size5,500 SF
Price / SF$378.18
Days on Market3
Property Features for 1201 S Jackson St
General Information
Standard status
Active
Size
5,500 SF
Property subtype
Commercial
Additional Details
Floor
Ground
Building Details
Year Built
1917
Listing Agency:
North Pacific Properties
Listed By:
Kent Shea
Source:
Findahomeseattle
Added: Oct 2
Changed: Oct 4
Last Checked: Oct 4 at 9:18AM
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 North Pacific Properties
Investment Insights
Based on property information with market context.
This mixed-use property at 1201 S Jackson St in Seattle has 5,500 SF of rentable retail area on the ground floor and a 5,550 SF basement suited to office use. The building dates to 1917.
Key Highlights
- 5,500 SF of rentable retail area on the ground floor
- 5,550 SF basement with office use
- Built in 1917
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
$82,010
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
3.94%
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%
$1,640,200
$1.6M
Cap Rate 7%
$1,171,571
$1.2M
Cap Rate 9%
$911,222
$911.2K
Market Conditions
NOI Build-Up for 5,500 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
$120.8K $21.96/SF
− Vacancy
−$3.6K −$0.66/SF
EGI
$117.2K $21.30/SF
− OpEx
−$35.1K −$6.39/SF
NOI
$82.0K $14.91/SF
Area
Seattle, WA
Vacancy
3.00%
Lease Rate
$21.96 /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%
$1,640,200
Cap Rate 7%
$1,171,571
Cap Rate 9%
$911,222
Alternative Uses
Best Use
Retail
$1.17M
$1.03M – $1.37M
NOI $82,010 @ 7.0% cap · market cap 3.94%
Second Best
Mixed Use
$1.04M
$907.5K – $1.21M
NOI $72,600 @ 7.0% cap · market cap 3.49%
Theoretical Best
Office A
$1.65M
$1.45M – $1.93M
NOI $115,828 @ 7.0% cap · market cap 5.57%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
6,429
Businesses Nearby
Explore this area
Business Placement
Demographics for 98144, WA
32,178
Population
16,381
Households
2
Avg Household Size
38
Median Age
62%
College-Educated
91%
High-School Grad
3.4 sq mi
ZIP Area
9,464
Density / Sq Mi
$94,051
Median Household Income
$65,078
Median Earnings
$1,805
Median Rent
$890,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in Seattle, WA
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Retail occupies the street level, with office space in the basement.
Where is this mixed-use property located?
The property is located at 1201 S Jackson St Seattle, WA.
What is the asking price?
The asking price for this property is $2,080,000.
What are key features of this property?
This property features: 5,500 SF of rentable retail area on the ground floor; 5,550 SF basement with office use; Built in 1917
