NNN Retail Storefront
For Sale
Contact for pricing
207-211 2nd Ave S, Seattle, WA 98104
NNN retail property with proforma rent based on vacant space at market-rate base rent.
Property Size11,838 SF
Price / SF$168.95
Days on Market401
Property Features for 207-211 2nd Ave S
General Information
Standard status
Active
Size
11,838 SF
Property subtype
RETAIL
Lease Type
NNN
Listing Agency:
CFRE | Commercial Real Estate
(425) 541-8880
Listed By:
Gary Hunter, CCIM
(425) 541-8880
Source:
Moodyscre
Added: Jun 25, 2025
Changed: Jul 26
Last Checked: Jul 29 at 3:01PM
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 CFRE | Commercial Real Estate
Investment Insights
Based on property information with market context.
This NNN retail storefront property is listed for sale and includes 11,838 square feet of space. Public remarks indicate proforma rent is calculated using the vacant space at market-rate base rent.
The property is located at 207-211 2nd Ave S in Seattle’s Stadium District. Public remarks also describe the area’s sports, entertainment, and tourism activity throughout the year, and note that NNN expenses are described as running less than market rate in the Pioneer Square market.
The property is located at 207-211 2nd Ave S in Seattle’s Stadium District. Public remarks also describe the area’s sports, entertainment, and tourism activity throughout the year, and note that NNN expenses are described as running less than market rate in the Pioneer Square market.
Key Highlights
- NNN retail property
- Proforma rent based on vacant space using market‑rate base rent
- NNN expenses are below market‑rate NNN in the Pioneer Square market
Financial Insights For 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 | $260.0k | $21.96 |
| − Vacancy | −$7.8k | −$0.66 |
| EGI | $252.2k | $21.30 |
| − OpEx | −$75.6k | −$6.39 |
| NOI | $176.5k | $14.91 |
11,838 SF · lease $21.96/SF/yr · vacancy 3.00% · expense 30.00%
Alternative Uses
Best Use
Retail
$2.52M
$2.21M – $2.94M
NOI $176,515 @ 7.0% cap · market cap 8.83%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.56M
$3.12M – $4.16M
NOI $249,305 @ 7.0% cap · market cap 12.47%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
13,411
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 98104, WA
16,157
Population
10,803
Households
1.5
Avg Household Size
38
Median Age
45%
College-Educated
83%
High-School Grad
0.9 sq mi
ZIP Area
17,952
Density / Sq Mi
$61,866
Median Household Income
$57,791
Median Earnings
$1,511
Median Rent
$663,000
Median Home Value
Market
Vacancy Rate% for Retail in Seattle, WA
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Storefront property - NNN retail property with proforma rent based on vacant space at market-rate base rent.
Where is this storefront property located?
The property is located at 207-211 2nd Ave S Seattle, WA.
What is the asking price?
The asking price for this property is $2,000,000.
What are key features of this property?
This property features: NNN retail property; Proforma rent based on vacant space using market‑rate base rent; NNN expenses are below market‑rate NNN in the Pioneer Square market
