Flex/Industrial Development
For Sale
Contact for pricing
Pending
12714 Aurora Ave N, Seattle, WA 98133
For-sale flex/industrial site with strong exposure along Aurora Ave N and titled easement access from N 128th.
Property Size7,456 SF
Days on Market445
Property Features for 12714 Aurora Ave N
General Information
Standard status
Pending
Size
7,456 SF
Property subtype
Office, Industrial
Investment Type
Owner/User
Building Details
Year Built
1948
Buildings
1
Stories
2
Listing Agency:
Sound Commercial Group, Inc.
Listed By:
Bud Kopp · License #WA SA032307000
(206) 579-8812
Source:
Crexi
Added: Jun 18, 2025
Changed: Aug 8
Last Checked: Jul 24 at 10:23AM
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 Sound Commercial Group, Inc.
Investment Insights
Based on property information with market context.
This for-sale flex/industrial property is positioned as an owner-user, investment, or development site. The offering is noted as being presented by a motivated seller, with preliminary title information available from First American.
The property has great exposure along Aurora Ave N and access from N 128th via a titled easement. This configuration supports a practical approach for businesses or redevelopments that require dependable site ingress/egress.
While specific building or unit details are not provided in the public remarks, the asset is marketed as a versatile flex/industrial/commercial real estate site suitable for multiple acquisition objectives.
The property has great exposure along Aurora Ave N and access from N 128th via a titled easement. This configuration supports a practical approach for businesses or redevelopments that require dependable site ingress/egress.
While specific building or unit details are not provided in the public remarks, the asset is marketed as a versatile flex/industrial/commercial real estate site suitable for multiple acquisition objectives.
Key Highlights
- Year Built: 1948
- Flex/industrial site with strong exposure along Aurora Ave N
- Access from N 128th via a titled easement
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
$131,831
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
8.27%
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%
$2,636,620
$2.6M
Cap Rate 7%
$1,883,300
$1.9M
Cap Rate 9%
$1,464,789
$1.5M
Market Conditions
NOI Build-Up for 7,456 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
$194.2K $26.04/SF
− Vacancy
−$5.8K −$0.78/SF
EGI
$188.3K $25.26/SF
− OpEx
−$56.5K −$7.58/SF
NOI
$131.8K $17.68/SF
Area
ZIP 98133
Vacancy
3.00%
Lease Rate
$26.04 /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%
$2,636,620
Cap Rate 7%
$1,883,300
Cap Rate 9%
$1,464,789
Alternative Uses
Best Use
Retail
$1.88M
$1.65M – $2.20M
NOI $131,831 @ 7.0% cap · market cap 8.27%
Second Best
Flex RnD
$1.37M
$1.20M – $1.60M
NOI $95,784 @ 7.0% cap · market cap 6.01%
Theoretical Best
Office A
$2.12M
$1.86M – $2.48M
NOI $148,598 @ 7.0% cap · market cap 9.32%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
984
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 98133, WA
50,720
Population
24,730
Households
2.1
Avg Household Size
39
Median Age
51%
College-Educated
94%
High-School Grad
7.1 sq mi
ZIP Area
7,144
Density / Sq Mi
$92,371
Median Household Income
$60,328
Median Earnings
$1,794
Median Rent
$719,100
Median Home Value
Market
Vacancy Rate% for Industrial in Seattle, WA
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Flex space - For-sale flex/industrial site with strong exposure along Aurora Ave N and titled easement access from N 128th.
Where is this flex space located?
The property is located at 12714 Aurora Ave N Seattle, WA.
What is the asking price?
The asking price for this property is $1,595,000.
What are key features of this property?
This property features: Year Built: 1948; Flex/industrial site with strong exposure along Aurora Ave N; Access from N 128th via a titled easement
