Two-Building Industrial Warehouse
New
For Sale
Contact for pricing
14045 Midvale Ave N, Seattle, WA 98133
Separate net leases and gated access support an owner-user arrangement with income from the second building.
Property Size8,000 SF
Price / SF$250
Days on Market6
Property Features for 14045 Midvale Ave N
General Information
Standard status
Active
Size
8,000 SF
Property subtype
INDUSTRIAL
Listing Agency:
Paragon Real Estate Advisors
(206) 812-9130
Listed By:
Brian Platt
(206) 812-9130
Source:
Moodyscre
Added: Aug 17
Changed: Aug 21
Last Checked: Aug 21 at 6:22AM
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 Paragon Real Estate Advisors
Investment Insights
Based on property information with market context.
This industrial property includes two freestanding prefabricated metal buildings totaling 8,000 square feet, with 4,000 square feet in each structure. Both buildings feature metal roofs, 18-foot clear heights, and separate net leases. Built in 1987, the improvements are supported by separately metered utilities, a secured entry gate, and 20 open surface parking stalls.
The 17,850-square-foot site is located at 14045 Midvale Ave N in Seattle, Washington, and carries C1-75 zoning with a 75-foot height limit. The property has access to public transportation and is near restaurants, grocery stores, and other North Seattle services. Its two-building layout allows an owner-user to occupy one structure while retaining a separately leased building for income.
The 17,850-square-foot site is located at 14045 Midvale Ave N in Seattle, Washington, and carries C1-75 zoning with a 75-foot height limit. The property has access to public transportation and is near restaurants, grocery stores, and other North Seattle services. Its two-building layout allows an owner-user to occupy one structure while retaining a separately leased building for income.
Key Highlights
- Two freestanding industrial buildings totaling 8,000 square feet
- 4,000 square feet in each building with 18‑foot clear heights
- 17,850‑square‑foot lot zoned C1‑75 with a 75‑foot height limit
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
$112,730
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
5.64%
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%
$2,254,600
$2.3M
Cap Rate 7%
$1,610,429
$1.6M
Cap Rate 9%
$1,252,556
$1.3M
Market Conditions
NOI Build-Up for 8,000 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
$144.0K $18.00/SF
− Vacancy
−$11.4K −$1.42/SF
EGI
$132.6K $16.58/SF
− OpEx
−$19.9K −$2.49/SF
NOI
$112.7K $14.09/SF
Area
ZIP 98133
Vacancy
7.90%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
15.00%
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%
$2,254,600
Cap Rate 7%
$1,610,429
Cap Rate 9%
$1,252,556
Alternative Uses
Best Use
Warehouse
$1.61M
$1.41M – $1.88M
NOI $112,730 @ 7.0% cap · market cap 5.64%
Second Best
Industrial
$1.33M
$1.16M – $1.55M
NOI $92,837 @ 7.0% cap · market cap 4.64%
Theoretical Best
Office A
$2.28M
$1.99M – $2.66M
NOI $159,440 @ 7.0% cap · market cap 7.97%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
895
Businesses Nearby
Balanced
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.
Similar Off Market Nearby
- Dispatch Storage — 12645 Stone Ave N, Seattle, WA 98133
- Highlands Self Storage — 14419 Greenwood Ave N A, Seattle, WA 98133
- Adam's Moving Service — 903 N 128th St, Seattle, WA 98133
- 145th Aurora Storage — 14540 Aurora Ave N, Shoreline, WA 98133
- Extra Space Storage — 1430 N 130th St, Seattle, WA 98133
Frequently Asked Questions
What type of property is this?
Warehouse - Separate net leases and gated access support an owner-user arrangement with income from the second building.
Where is this warehouse located?
The property is located at 14045 Midvale Ave N Seattle, WA.
What is the asking price?
The asking price for this property is $2,000,000.
What are key features of this property?
This property features: Two freestanding industrial buildings totaling 8,000 square feet; 4,000 square feet in each building with 18‑foot clear heights; 17,850‑square‑foot lot zoned C1‑75 with a 75‑foot height limit
