Two-Story Office
1619 8th Ave N, Seattle, WA 98109
For Sale
Contact for pricing
A first-floor life science occupant is in place through 2029, while the second floor is expected to become available within six months of closing.
Property Size7,000 SF
Price / SF$471.43
Days on Market29
Property Features for 1619 8th Ave N
General Information
Standard status
Size
Property subtype
Site & Location
Neighborhood
Additional Details
Tenant in Place
Property Use
Building Details
Buildings
Stories
Building Size
Listing Agency:
Newmark - Seattle
Listed By:
Levi Bundrant
(425) 409-7405
Source:
Crexi
Added: Oct 13
Changed: Nov 8
Last Checked: Nov 10 at 8:51AM
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 Newmark - Seattle
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 7,000 SF office building has a local life science user on its first floor through 2029. The second floor is expected to be available within six months of closing, offering a separate occupancy timeline within the building.
The property is on the west side of Lake Union, within minutes of South Lake Union, Fremont, Queen Anne, and downtown Seattle.
The property is on the west side of Lake Union, within minutes of South Lake Union, Fremont, Queen Anne, and downtown Seattle.
Key Highlights
- 7,000 SF office building
- Local life science user occupies the first floor through 2029
- Second‑floor occupancy expected within 6 months of closing
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$122,890
Cap Rate
3.72%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,457,800
$2.5M
Cap Rate 7%
$1,755,571
$1.8M
Cap Rate 9%
$1,365,444
$1.4M
Market Conditions
NOI Build-Up for 7,000 SF
Gross rent
$212.5K $30.36/SF
− Vacancy
−$48.7K −$6.95/SF
EGI
$163.9K $23.41/SF
− OpEx
−$41.0K −$5.85/SF
NOI
$122.9K $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%
$2,457,800
Cap Rate 7%
$1,755,571
Cap Rate 9%
$1,365,444
Alternative Uses
Best Use
Office B
$1.76M
$1.54M – $2.05M
NOI $122,890 @ 7.0% cap · market cap 3.72%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.11M
$1.84M – $2.46M
NOI $147,418 @ 7.0% cap · market cap 4.47%
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
2,836
Businesses Nearby
Explore this area
Business Placement
Demographics for 98109, WA
34,551
Population
23,162
Households
1.5
Avg Household Size
32
Median Age
78%
College-Educated
98%
High-School Grad
1.9 sq mi
ZIP Area
18,185
Density / Sq Mi
$130,845
Median Household Income
$104,202
Median Earnings
$2,329
Median Rent
$986,000
Median Home Value
Market
Average Price Trend$/SF for Office buildings in Seattle, WA
Properties on Market for Office buildings in Seattle
Vacancy Rate% for Office in Seattle, WA
Frequently Asked Questions
What type of property is this?
Office building - A first-floor life science occupant is in place through 2029, while the second floor is expected to become available within six months of closing.
Where is this office building located?
The property is located at 1619 8th Ave N Seattle, WA.
What is the asking price?
The asking price for this property is $3,300,000.
What are key features of this property?
This property features: 7,000 SF office building; Local life science user occupies the first floor through 2029; Second‑floor occupancy expected within 6 months of closing
