Turnkey Coffee Shop
For Sale
Contact for pricing
1909-1911 10th Ave W, Seattle, WA 98119
Single-level coffee shop condo built in 2002 with a kitchen/production area and private restroom.
Property Size945 SF
Price / SF$528.04
Days on Market117
Property Features for 1909-1911 10th Ave W
General Information
Standard status
Active
Size
945 SF
Property subtype
RETAIL
Additional Details
Traffic Count
5,000 vehicles/day
Building Details
Year Built
2002
Listing Agency:
Paragon Real Estate Advisors
(206) 623-8880
Listed By:
Mitch Battison
(206) 812-9137
Source:
Moodyscre
Added: May 12
Changed: Aug 10
Last Checked: Jul 22 at 12:26AM
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 Paragon Real Estate Advisors
Investment Insights
Based on property information with market context.
Paragon Real Estate Advisors presents a 945-square-foot commercial condo at 1909–1911 10th Ave W, built in 2002 and currently built out as a coffee shop. The space features a clean, efficient single-level layout designed for customer-facing operations, with a main service area, kitchen/production space, and a private restroom. The storefront is supported by large windows that bring in natural light and provide visibility for branding.
The property is located in Seattle’s Queen Anne neighborhood along 10th Ave W. The site reports traffic counts exceeding 5,000 vehicles per day in a dense, walkable residential area. The condo is leased through 2028, providing immediate income, with NNN reimbursements scheduled to begin in 2026. Seller financing is also available.
Ideal for an owner-user or investor seeking a turnkey, low-maintenance setup with established income and additional reimbursement timing in the later term.
The property is located in Seattle’s Queen Anne neighborhood along 10th Ave W. The site reports traffic counts exceeding 5,000 vehicles per day in a dense, walkable residential area. The condo is leased through 2028, providing immediate income, with NNN reimbursements scheduled to begin in 2026. Seller financing is also available.
Ideal for an owner-user or investor seeking a turnkey, low-maintenance setup with established income and additional reimbursement timing in the later term.
Key Highlights
- 945‑SF commercial condo built in 2002 with a single‑level layout for customer‑facing use
- Currently built out as a coffee shop with main service area, kitchen/production space, and a private restroom
- Leased through 2028, providing immediate income
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$15,921
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.19%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$318,420
$318.4K
Cap Rate 7%
$227,443
$227.4K
Cap Rate 9%
$176,900
$176.9K
Market Conditions
NOI Build-Up for 945 SF
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.
Gross rent
$21.8K $23.04/SF
− Vacancy
−$544 −$0.58/SF
EGI
$21.2K $22.46/SF
− OpEx
−$5.3K −$5.62/SF
NOI
$15.9K $16.85/SF
Area
Seattle, WA
Vacancy
2.50%
Lease Rate
$23.04 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$318,420
Cap Rate 7%
$227,443
Cap Rate 9%
$176,900
Alternative Uses
Best Use
Specialty Retail
$227.4K
$199.0K – $265.4K
NOI $15,921 @ 7.0% cap · market cap 3.19%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$284.3K
$248.8K – $331.7K
NOI $19,901 @ 7.0% cap · market cap 3.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
5,000 VPD
Traffic count
Location Intelligence
Trade Area within ½ mile
996
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 98119, WA
26,238
Population
15,323
Households
1.7
Avg Household Size
35
Median Age
71%
College-Educated
99%
High-School Grad
2.4 sq mi
ZIP Area
10,933
Density / Sq Mi
$125,021
Median Household Income
$74,038
Median Earnings
$1,963
Median Rent
$1,032,500
Median Home Value
Market
Vacancy Rate% for Retail in Seattle, WA
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Coffee shop - Single-level coffee shop condo built in 2002 with a kitchen/production area and private restroom.
Where is this coffee shop located?
The property is located at 1909-1911 10th Ave W Seattle, WA.
What is the asking price?
The asking price for this property is $499,000.
What are key features of this property?
This property features: 945‑SF commercial condo built in 2002 with a single‑level layout for customer‑facing use; Currently built out as a coffee shop with main service area, kitchen/production space, and a private restroom; Leased through 2028, providing immediate income
