LR3 Urban Village Development
For Sale
Contact for pricing
1306 S Bayview St, Seattle, WA 98144
Covered development site with an existing income-producing duplex in North Beacon Hill.
Property Size2,810 SF
Price / SF$460.85
Days on Market322
Property Features for 1306 S Bayview St
General Information
Standard status
Active
Size
2,810 SF
Property subtype
LAND
Listing Agency:
Urban Commercial Partners, LLC
(206) 735-7888
Listed By:
Jason Elrod
(206) 735-7888
Source:
Moodyscre
Added: Sep 30, 2025
Changed: Aug 16
Last Checked: Aug 17 at 4:15AM
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 Urban Commercial Partners, LLC
Investment Insights
Based on property information with market context.
This commercial land offering includes an existing duplex on a 7,610-square-foot lot in Seattle’s North Beacon Hill area. The property size is reported at 2,810 square feet, and the duplex currently generates income, providing an existing operating component during future planning or entitlement work.
The site is zoned LR3 urban village. The property information identifies potential for higher-density residential or mixed-use development, subject to applicable approvals, while retaining the existing duplex configuration in the interim.
The site is zoned LR3 urban village. The property information identifies potential for higher-density residential or mixed-use development, subject to applicable approvals, while retaining the existing duplex configuration in the interim.
Key Highlights
- 7,610 SF lot in North Beacon Hill
- Zoned LR3 urban village
- Existing duplex on the site
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
$50,719
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
3.92%
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%
$1,014,380
$1.0M
Cap Rate 7%
$724,557
$724.6K
Cap Rate 9%
$563,544
$563.5K
Market Conditions
NOI Build-Up for 2,810 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
$75.9K $27.00/SF
− Vacancy
−$3.4K −$1.22/SF
EGI
$72.5K $25.79/SF
− OpEx
−$21.7K −$7.74/SF
NOI
$50.7K $18.05/SF
Area
Seattle, WA
Vacancy
4.50%
Lease Rate
$27.00 /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%
$1,014,380
Cap Rate 7%
$724,557
Cap Rate 9%
$563,544
Alternative Uses
Best Use
Multifamily LT 5
$724.6K
$634.0K – $845.3K
NOI $50,719 @ 7.0% cap · market cap 3.92%
Second Best
Apartment 5plus
$677.5K
$592.8K – $790.5K
NOI $47,427 @ 7.0% cap · market cap 3.66%
Theoretical Best
Office A
$845.4K
$739.7K – $986.3K
NOI $59,178 @ 7.0% cap · market cap 4.57%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,306
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
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Commercial land - Covered development site with an existing income-producing duplex in North Beacon Hill.
Where is this commercial land located?
The property is located at 1306 S Bayview St Seattle, WA.
What is the asking price?
The asking price for this property is $1,295,000.
What are key features of this property?
This property features: 7,610 SF lot in North Beacon Hill; Zoned LR3 urban village; Existing duplex on the site
