Creative Office
For Sale
$9,500,000
1601 E John St, Seattle, WA 98112
Transit-oriented office property near rail, streetcar, and bus connections.
Property Size18,844 SF
Days on Market197
Property Features for 1601 E John St
General Information
Standard status
Active
Size
18,844 SF
Class
C
Property subtype
Office - General Office
Additional Details
Public Transit
Yes
Building Details
Building Size
18,844 SF
Year Built
1906
Year Renovated
2005
Listing Agency:
NAI Puget Sound Properties
Listed By:
John Werdel · License #14069
(206) 332-1488
Source:
Commercialcafe
Added: Apr 7
Changed: Oct 6
Last Checked: Oct 20 at 5:36PM
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 NAI Puget Sound Properties
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Investment Insights
Based on property information with market context.
This office building at 1601 E John St in Seattle’s Capitol Hill neighborhood dates to 1906 and is positioned near the area’s commercial core. The property is presented as an owner-user opportunity for professional and creative-oriented operations, including architecture, engineering, graphic design, interior design, legal, and private club uses.
Capitol Hill Link Light Rail and Seattle Streetcar stations are approximately a ten-minute walk away, with numerous bus routes nearby. The location also provides access to major employment centers, including Seattle’s Central Business District, South Lake Union, the University of Washington main campus and hospital, and the First Hill medical community.
Capitol Hill Link Light Rail and Seattle Streetcar stations are approximately a ten-minute walk away, with numerous bus routes nearby. The location also provides access to major employment centers, including Seattle’s Central Business District, South Lake Union, the University of Washington main campus and hospital, and the First Hill medical community.
Key Highlights
- Office building constructed in 1906
- Owner‑user opportunity for professional and creative‑oriented operations
- Approximately a ten‑minute walk to Capitol Hill Link Light Rail and Seattle Streetcar stations
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$330,819
Cap Rate
3.48%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$6,616,380
$6.6M
Cap Rate 7%
$4,725,986
$4.7M
Cap Rate 9%
$3,675,767
$3.7M
Market Conditions
NOI Build-Up for 18,844 SF
Gross rent
$572.1K $30.36/SF
− Vacancy
−$131.0K −$6.95/SF
EGI
$441.1K $23.41/SF
− OpEx
−$110.3K −$5.85/SF
NOI
$330.8K $17.56/SF
Area
Seattle, WA
Vacancy
22.90%
Lease Rate
$30.36 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$6,616,380
Cap Rate 7%
$4,725,986
Cap Rate 9%
$3,675,767
Alternative Uses
Best Use
Office B
$4.73M
$4.14M – $5.51M
NOI $330,819 @ 7.0% cap · market cap 3.48%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$5.67M
$4.96M – $6.61M
NOI $396,849 @ 7.0% cap · market cap 4.18%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
5,148
Businesses Nearby
Explore this area
Business Placement
Demographics for 98112, WA
23,152
Population
11,670
Households
2
Avg Household Size
39
Median Age
81%
College-Educated
99%
High-School Grad
3.2 sq mi
ZIP Area
7,235
Density / Sq Mi
$162,073
Median Household Income
$84,919
Median Earnings
$2,062
Median Rent
$1,407,400
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Seattle, WA
Frequently Asked Questions
What type of property is this?
Office building - Transit-oriented office property near rail, streetcar, and bus connections.
Where is this office building located?
The property is located at 1601 E John St Seattle, WA.
What is the asking price?
The asking price for this property is $9,500,000.
What are key features of this property?
This property features: Office building constructed in 1906; Owner‑user opportunity for professional and creative‑oriented operations; Approximately a ten‑minute walk to Capitol Hill Link Light Rail and Seattle Streetcar stations
