Industrial Warehouse with Dock-High
For Sale
$3,250,000
4400 24TH, Seattle, WA 98199
Warehouse offering 2 levels of clear span space with dock-high and grade-level loading, concrete floors, and off-street parking.
Property Size13,740 SF
Lot Size0.25 Acres
Price / SF$236.54
Days on Market740
Property Features for 4400 24TH
General Information
Standard status
Active
Size
13,740 SF
Lot size
0.25 Acres
Property subtype
Commercial
Zoning
MML U/65
Warehouse & Industrial
Heavy Power
Yes
Sprinkler System
Yes
Amenities
paint booth
restrooms
shower
private offices
reception area
break/lunch room
Building Details
Year Built
1964
Stories
2
Listing Agency:
Windermere Real Estate Midtown
Listed By:
Lauren Hendricks
(206) 363-8509
Source:
Century21northhomes
Added: Jul 21, 2024
Changed: Jul 25
Last Checked: Jul 30 at 6:11PM
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 Windermere Real Estate Midtown
Investment Insights
Based on property information with market context.
This industrial warehouse building offers 13,740 SF with two levels of clear span warehouse space and concrete floors on both levels. The space is partially sprinklered and includes 3-phase power. Loading is supported by dock-high and grade-level loading doors, and the building also features a paint booth. Interior amenities include six restrooms, a shower, and a handful of private offices plus a reception area and break/lunch room. Off-street parking is available.
Located in the Magnolia/Interbay neighborhood, the property is near Fisherman’s Terminal and conveniently close to Ballard, Fremont and Queen Anne.
The site includes 10,780 SF on a corner lot and is zoned MML U/65, providing a defined framework for industrial use within the city.
Located in the Magnolia/Interbay neighborhood, the property is near Fisherman’s Terminal and conveniently close to Ballard, Fremont and Queen Anne.
The site includes 10,780 SF on a corner lot and is zoned MML U/65, providing a defined framework for industrial use within the city.
Key Highlights
- 13,740 SF warehouse building (2 levels) in the Magnolia/Interbay neighborhood, built in 1964
- 2 levels of clear‑span warehouse space with concrete floors on both levels
- Dock‑high and grade‑level loading doors plus off‑street parking
Financial Insights For Warehouse
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $192.9k | $14.04 |
| − Vacancy | −$15.2k | −$1.11 |
| EGI | $177.7k | $12.93 |
| − OpEx | −$26.7k | −$1.94 |
| NOI | $151.0k | $10.99 |
13,740 SF · lease $14.04/SF/yr · vacancy 7.90% · expense 15.00%
Alternative Uses
Best Use
Warehouse
$2.16M
$1.89M – $2.52M
NOI $151,019 @ 7.0% cap · market cap 4.65%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.13M
$3.62M – $4.82M
NOI $289,360 @ 7.0% cap · market cap 8.90%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Heavy power
Yes
Sprinkler system
Location Intelligence
Trade Area within ½ mile
212
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 98199, WA
22,549
Population
10,737
Households
2.1
Avg Household Size
39
Median Age
77%
College-Educated
99%
High-School Grad
4.2 sq mi
ZIP Area
5,369
Density / Sq Mi
$176,729
Median Household Income
$99,361
Median Earnings
$2,461
Median Rent
$1,160,000
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?
Warehouse - Warehouse offering 2 levels of clear span space with dock-high and grade-level loading, concrete floors, and off-street parking.
Where is this warehouse located?
The property is located at 4400 24TH Seattle, WA.
What is the asking price?
The asking price for this property is $3,250,000.
What are key features of this property?
This property features: 13,740 SF warehouse building (2 levels) in the Magnolia/Interbay neighborhood, built in 1964; 2 levels of clear‑span warehouse space with concrete floors on both levels; Dock‑high and grade‑level loading doors plus off‑street parking
