Charming Retail Office in
158 1st Place NW Issaquah, WA 98027
158 1st Place NW, Issaquah, WA, 98027
$1,200,000
For Sale
$1,200,000
Unique 2,490 SF retail office with historic charm.
Property Size2,490 SF
Price / SF$481.93
Days on Market407
Property Features for 158 1st Place NW
General Information
- Standard status
- Active
- Size
- 2,490 SF
- Property subtype
- Commercial
Building Details
- Year Built
- 1927
Listing Agency
KIDDER MATHEWS
(425) 450-1180
Listed by
STEVE PELLUER · License #23225
Source
Corcoran
Added: Jun 10, 2025 Updated: Jul 6 at 7:41 am Checked: Jul 20 at 3:31 am
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 KIDDER MATHEWS
Investment Insights
Based on property information with market context.
This unique 2,490 SF retail office is located in downtown Issaquah. Constructed in 1927 and renovated over the years, the building maintains its original character. It is situated on a 5,445 SF lot and includes six on-site parking stalls. The property is zoned CBD and is easily accessible from I-90. It is ideal for boutique users or professional services. A quiet, private outdoor area provides a valuable amenity. Located just behind Front Street, the property offers excellent walkability and visibility while remaining set back from heavy traffic. It is well-suited for owner-users looking for a character-rich space.
Key Highlights
- Prime downtown Issaquah location offering excellent walkability and visibility.
- Unique, character‑rich building blends historic charm with modern functionality.
- Six on‑site parking stalls.
Local Financial Insights For Office B
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 | $89.6k | $36.00 |
| − Vacancy | −$19.6k | −$7.88 |
| EGI | $70.0k | $28.12 |
| − OpEx | −$17.5k | −$7.03 |
| NOI | $52.5k | $21.09 |
2,490 SF · lease $36.00/SF/yr · vacancy 21.90% · expense 25.00%
Alternative Uses
Best Use
Office B
$750.1K
$656.3K – $875.1K
NOI $52,507 @ 7.0% cap · market cap 4.38%
Second Best
Retail
$636.3K
$556.8K – $742.4K
NOI $44,543 @ 7.0% cap · market cap 3.71%
Theoretical Best
Office A
$997.3K
$872.7K – $1.16M
NOI $69,812 @ 7.0% cap · market cap 5.82%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Retail space
Similar For Sale Nearby
FAQs
What type of property is this?
Retail space - Unique 2,490 SF retail office with historic charm.
Where is this retail space located?
The property is located at 158 1st Place NW Issaquah, WA.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: Prime downtown Issaquah location offering excellent walkability and visibility.; Unique, character‑rich building blends historic charm with modern functionality.; Six on‑site parking stalls.
