Multi-Tenant Retail Strip
For Sale
$1,850,000
6408 Latona Ave NE, Seattle, WA 98115
A multi-tenant retail building currently housing four businesses on a 5,465 sq ft lot.
Property Size4,140 SF
Lot Size0.13 Acres
Price / SF$446.86
Days on Market78
Property Features for 6408 Latona Ave NE
General Information
Standard status
Active
Size
4,140 SF
Lot size
0.13 Acres
Building Details
Year Built
1907
Tenancy
Multi
Listing Agency:
Windermere Real Estate/M2, LLC
Listed By:
Nickolas Nicoloudakis
(425) 776-9580
Source:
Theinspiregroup
Added: Jul 24
Changed: Oct 8
Last Checked: Oct 7 at 5:00PM
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/M2, LLC
Investment Insights
Based on property information with market context.
A multi-tenant retail strip building offers income-producing space currently home to four retail businesses. The property is situated on a 5,465 sq ft lot and contains 4,140 sq ft of building area.
The building is located at 6408 Latona Ave NE in Seattle. Public remarks indicate recent rezoning allows development up to a height of 40 feet, expanding the building’s potential under current zoning.
Tax ID: 3359500655.
The building is located at 6408 Latona Ave NE in Seattle. Public remarks indicate recent rezoning allows development up to a height of 40 feet, expanding the building’s potential under current zoning.
Tax ID: 3359500655.
Key Highlights
- 4,140 sq ft multi‑tenant retail building currently home to 4 retail businesses
- Located on a 5,465 sq ft lot
- Recent rezoning allows building up to a height of 40 feet
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$89,054
Cap Rate
4.81%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,781,080
$1.8M
Cap Rate 7%
$1,272,200
$1.3M
Cap Rate 9%
$989,489
$989.5K
Market Conditions
NOI Build-Up for 4,140 SF
Gross rent
$131.2K $31.68/SF
− Vacancy
−$3.9K −$0.95/SF
EGI
$127.2K $30.73/SF
− OpEx
−$38.2K −$9.22/SF
NOI
$89.1K $21.51/SF
Area
ZIP 98115
Vacancy
3.00%
Lease Rate
$31.68 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,781,080
Cap Rate 7%
$1,272,200
Cap Rate 9%
$989,489
Alternative Uses
Best Use
Retail
$1.27M
$1.11M – $1.48M
NOI $89,054 @ 7.0% cap · market cap 4.81%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.66M
$1.45M – $1.93M
NOI $116,072 @ 7.0% cap · market cap 6.27%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,720
Businesses Nearby
Explore this area
Business Placement
Demographics for 98115, WA
54,322
Population
24,966
Households
2.2
Avg Household Size
36
Median Age
78%
College-Educated
99%
High-School Grad
6.6 sq mi
ZIP Area
8,231
Density / Sq Mi
$148,190
Median Household Income
$82,332
Median Earnings
$2,118
Median Rent
$1,041,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Seattle, WA
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Strip mall - A multi-tenant retail building currently housing four businesses on a 5,465 sq ft lot.
Where is this strip mall located?
The property is located at 6408 Latona Ave NE Seattle, WA.
What is the asking price?
The asking price for this property is $1,850,000.
What are key features of this property?
This property features: 4,140 sq ft multi‑tenant retail building currently home to 4 retail businesses; Located on a 5,465 sq ft lot; Recent rezoning allows building up to a height of 40 feet
