Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Clear-Span Warehouse with Barrel-Vault Roof Title is generated by Realmo AI

    12517 15th Ave NE, Seattle, WA 98125

    View on Map
    Claim this Listing
    For Lease
    $14,976/Mo $34 SF/Yr (calc)

    5,200 SF warehouse with parking, lifts, and remodeled office.

    Type:Commercial
    Property size:
    5,200 SF
    Lot size:
    0.33 Acres
    Added:
    Jan 21, 2026
    Days on Market:
    134
    Last Refresh:
    Apr 5 at 11:18 pm

    Property Features for 12517 15th Ave NE

    General Information

    Standard status
    Active
    Size
    5,200 SF
    Lot size
    0.33 Acres
    Property subtype
    Commercial

    Building Details

    Year Built
    1947

    We can help!

    Listing Contact
    NICHOLAS RIDDELL

    Listing agent NICHOLAS RIDDELL

    Listing office LOTSIDE LLC

    Listing date Jan 21, 2026

    Source Corcoran

    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 LOTSIDE LLC

    HighLights

    • Rare clear‑span warehouse with distinctive barrel‑vault roof and no interior columns.
    • Large 1/3 acre lot with approximately 22 paved on‑site parking spaces.
    • Includes eight (8) two‑post vehicle lifts.
    • Suitable for automotive, light industrial, or brewery users.
    • Remodeled office and client waiting area with restroom.
    • 5,200 SF cinderblock building with tall ceilings.

    Overview

    This 5,200 SF cinderblock building presents an exceptional opportunity for automotive, light industrial, or brewery users. Situated on a 1/3 acre lot, the property features a rare clear-span warehouse with tall ceilings and a distinctive barrel-vault roof, providing unobstructed layout and operations. The property includes eight two-post vehicle lifts, a remodeled office and client waiting area with restroom, an employee break area, and a storage loft. Approximately 22 paved on-site parking spaces enhance functionality. Formerly an auto repair shop, the property is zoned NC3P-55 (M). A minimum 5-year lease is required, and the tenant is responsible for NNN expenses. Tenant to verify zoning and intended use.
    Property Profile Location Intelligence

    Current Use by Public Records

    Broad Stroke - Japanese ... Auto Repair Shop

    Suggested Use

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

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

    Similar Places Nearby

    • Rapid Towing — 11300 3rd Ave NE unit 141, Seattle, WA 98125
    • Fast towing seattle — 11300 3rd Ave NE unit244, Seattle, WA 98125
    • Quick Towing — 11300 3rd Ave NE unit 141, Seattle, WA 98125
    • Xtreme Motorsports — 11035 8th Ave NE, Seattle, WA 98125
    • 8 .0 2morrow Customs — 11040 14th avenue northeast, seattle, wa 98125

    Location Insight

    • Map
    • Local Demand
    City
    Seattle
    County
    King
    State
    Washington
    Longitude
    -122.313
    Latitude
    47.7199

    Nearby Similar for Lease

    • $129-$5,975/Mo
      11-1,292 SF

      WA, Seattle- 1601 5th Avenue

      1601 5Th Ave, Seattle, WA 98101
      View Details
    • $129-$11,336/Mo
      11-1,292 SF

      WA, Seattle - 5th Ave NE

      10202 5Th Ave, Unit 2ND, Seattle, WA 98125
      View Details
    • $129-$4,916/Mo
      11-1,292 SF

      WA, Seattle - Gem Plaza

      221 1St Ave, Unit 2ND, Seattle, WA 98119
      View Details
    • $129-$5,313/Mo
      11-1,292 SF

      Spaces Pioneer Square

      450 Alaskan Way, Seattle, WA 98104
      View Details
    • Sponsored
      $129-$5,087/Mo
      11-1,292 SF

      WA, Seattle - 2nd Ave

      2815 Seattle St, Seattle, WA 98121
      View Details
    • $129-$4,254/Mo
      11-1,292 SF

      Columbia Center

      701 5Th Ave, Unit 42ND, Seattle, WA 98104
      View Details
    • $129-$6,118/Mo
      11-1,292 SF

      Plaza 600

      600 Stewart St, Seattle, WA 98101
      View Details
    • $129-$4,452/Mo
      11-1,292 SF

      Smith Tower

      506 2Nd Ave, Unit 1400, Seattle, WA 98104
      View Details
    • $129-$6,551/Mo
      11-1,292 SF

      Seattle City

      1420 5Th Ave, Unit 2200, Seattle, WA 98101
      View Details
    • $18 SF/Yr
      8,000 SF

      Flex Building on Busy Thoroughfare

      8,000 RSF flex building in desirable Seattle location.
      1414 Elliott Ave West, Seattle, WA 98108
      View Details
    • $18 SF/Yr
      4,815 SF

      Magnolia Village Retail and Office

      Retail and loft-style office spaces in desirable Magnolia Village.
      3410 West McGraw Street, Seattle, WA 98199
      View Details
    • $7,213/Mo
      2,885 SF

      Ballard Retail/Restaurant/Bar Space Available

      Landmark Ballard location suitable for restaurant, retail, or bar.
      8000 15th Ave NW, Seattle, WA 98117
      View Details

    FAQs

    What type of property is this?
    Auto shop - 5,200 SF warehouse with parking, lifts, and remodeled office.
    Where is this auto shop located?
    The property is located at 12517 15th Ave NE Seattle, WA.
    What is the lease rate?
    The lease rate is $14,976 /Mo.
    What are key features of this property?
    This property features: Rare clear‑span warehouse with distinctive barrel‑vault roof and no interior columns.; Large 1/3 acre lot with approximately 22 paved on‑site parking spaces.; Includes eight (8) two‑post vehicle lifts.
    We can help!
    Listing Contact
    NICHOLAS RIDDELL
    Request Owner's contact information
    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.
    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
    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

    Thank You for Inquiry
    12517 15th Ave NE, Seattle, WA 98125
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!