Two-Building Mixed-Use
15310 1ST Burien, WA 98148
15310 1ST, Burien, WA, 98148
$2,200,000
For Sale
$2,200,000
Mixed-use-zoned property with two buildings and frontage along 1st Ave S, including an upper-level restaurant and vacant lower space.
Property Size7,132 SF
Lot Size0.72 Acres
Price / SF$308.47
Days on Market262
Property Features for 15310 1ST
General Information
- Standard status
- Active
- Size
- 7,132 SF
- Lot size
- 0.72 Acres
- Property subtype
- Commercial
Building Details
- Year Built
- 1966
Listing Agency
Keller Williams Eastside
Listed by
Thuy A. Nguyen
(206) 363-8509
Source
Century21northhomes
Added: Nov 2, 2025 Updated: Jul 20 at 5:04 pm Checked: Jul 20 at 5:04 pm
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
Investment Insights
Based on property information with market context.
This mixed-use-zoned property offers two buildings on three separate tax parcels totaling 31,212 SF. The main 6,775 SF building features an established restaurant and lounge on the upper level, with a vacant lower level that can support additional income or redevelopment. A freestanding 357 SF building provides supplemental revenue.
The site includes 150 feet of frontage along 1st Ave S and strong exposure to Hwy 509. The seller indicates the property can be held as-is or repositioned, with redevelopment possibilities under the new mixed-use zoning. Buyer to verify all information.
The site includes 150 feet of frontage along 1st Ave S and strong exposure to Hwy 509. The seller indicates the property can be held as-is or repositioned, with redevelopment possibilities under the new mixed-use zoning. Buyer to verify all information.
Key Highlights
- Commercial mixed‑use‑zoned property with two buildings on three separate tax parcels totaling 31,212 SF
- 6,775 SF main building with established restaurant and lounge on the upper level, plus a vacant lower level
- Freestanding 357 SF building provides supplemental rental revenue
Local Financial Insights For Specialty Retail
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 | $214.0k | $30.00 |
| − Vacancy | −$10.7k | −$1.50 |
| EGI | $203.3k | $28.50 |
| − OpEx | −$50.8k | −$7.13 |
| NOI | $152.4k | $21.38 |
7,132 SF · lease $30.00/SF/yr · vacancy 5.00% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$2.18M
$1.91M – $2.54M
NOI $152,447 @ 7.0% cap · market cap 6.93%
Second Best
Mixed Use
$1.70M
$1.49M – $1.99M
NOI $119,143 @ 7.0% cap · market cap 5.42%
Theoretical Best
Office A
$2.86M
$2.50M – $3.33M
NOI $199,958 @ 7.0% cap · market cap 9.09%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Conventional restaurants
Similar For Sale Nearby
FAQs
What type of property is this?
Conventional restaurant - Mixed-use-zoned property with two buildings and frontage along 1st Ave S, including an upper-level restaurant and vacant lower space.
Where is this conventional restaurant located?
The property is located at 15310 1ST 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: Commercial mixed‑use‑zoned property with two buildings on three separate tax parcels totaling 31,212 SF; 6,775 SF main building with established restaurant and lounge on the upper level, plus a vacant lower level; Freestanding 357 SF building provides supplemental rental revenue
