Mixed-Use Property with
15310 1st Avenue S, Burien, WA 98148
For Sale
$2,200,000
Two buildings combine an operating restaurant and lounge with vacant lower-level space and mixed-use zoning.
Property Size6,775 SF
Lot Size0.72 Acres
Price / SF$324.72
Days on Market325
Property Features for 15310 1st Avenue S
General Information
Standard status
Size
Lot size
Property subtype
Additional Details
Frontage
Building Details
Year Built
Buildings
Listing Agency:
Keller Williams Eastside
Listed By:
Thuy A. Nguyen
(425) 979-6080
Source:
Seattleafloat
Added: Dec 19, 2025
Changed: Nov 8
Last Checked: Nov 8 at 2:14PM
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 Keller Williams Eastside
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
The property comprises two buildings across three tax parcels totaling 31,212 SF. The 6,775 SF main building has an established restaurant and lounge upstairs, with a vacant lower level. A separate 357 SF building is also on site. Built in 1966, the property has mixed-use zoning that supports commercial and residential redevelopment under the stated zoning designation.
At 15310 1st Avenue S in Burien, the site has 150 feet of frontage on 1st Avenue S and exposure to Hwy 509.
At 15310 1st Avenue S in Burien, the site has 150 feet of frontage on 1st Avenue S and exposure to Hwy 509.
Key Highlights
- Two buildings across three tax parcels totaling 31,212 SF
- 6,775 SF main building with restaurant and lounge on the upper level
- Vacant lower level in the main building
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$144,816
Cap Rate
6.58%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,896,320
$2.9M
Cap Rate 7%
$2,068,800
$2.1M
Cap Rate 9%
$1,609,067
$1.6M
Market Conditions
NOI Build-Up for 6,775 SF
Gross rent
$203.3K $30.00/SF
− Vacancy
−$10.2K −$1.50/SF
EGI
$193.1K $28.50/SF
− OpEx
−$48.3K −$7.13/SF
NOI
$144.8K $21.38/SF
Area
King County, WA
Vacancy
5.00%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,896,320
Cap Rate 7%
$2,068,800
Cap Rate 9%
$1,609,067
Alternative Uses
Best Use
Specialty Retail
$2.07M
$1.81M – $2.41M
NOI $144,816 @ 7.0% cap · market cap 6.58%
Second Best
Mixed Use
$1.62M
$1.41M – $1.89M
NOI $113,180 @ 7.0% cap · market cap 5.14%
Theoretical Best
Office A
$2.71M
$2.37M – $3.17M
NOI $189,949 @ 7.0% cap · market cap 8.63%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
265
Businesses Nearby
Explore this area
Business Placement
Demographics for 98148, WA
11,092
Population
4,382
Households
2.5
Avg Household Size
37
Median Age
28%
College-Educated
85%
High-School Grad
2.7 sq mi
ZIP Area
4,108
Density / Sq Mi
$86,994
Median Household Income
$45,101
Median Earnings
$1,837
Median Rent
$576,400
Median Home Value
Market
Average Price Trend$/SF for Mixed-use properties in King County, WA
Properties on Market for Mixed-use properties in King County
Vacancy Rate% for Retail in West region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Two buildings combine an operating restaurant and lounge with vacant lower-level space and mixed-use zoning.
Where is this mixed-use property located?
The property is located at 15310 1st Avenue S Burien, WA.
What is the asking price?
The asking price for this property is $2,200,000.
What are key features of this property?
This property features: Two buildings across three tax parcels totaling 31,212 SF; 6,775 SF main building with restaurant and lounge on the upper level; Vacant lower level in the main building
