Mixed-Use Building with Retail
For Sale
Contact for pricing
211 1st Avenue South, Seattle, WA 98104
1900-vintage brick building with four fully occupied residential units and approximately 6,000 sq. ft. of street-level and lower-level retail space.
Property Size11,605 SF
Price / SF$236.97
Days on Market103
Property Features for 211 1st Avenue South
General Information
Standard status
Active
Size
11,605 SF
Property subtype
Retail, Multifamily, Mixed Use
Zoning
PSM-100
Investment Type
Stabilized
Site & Location
Neighborhood
Pioneer Square
Additional Details
Multifamily Units
4
Building Details
Year Built
1900
Buildings
1
Units
6
Tenancy
Multi
Construction
brick
Listing Agency:
Colliers - Seattle, Washington
Listed By:
Sam Wayne · License #WA 122177
(206) 219-2366
Source:
Crexi
Added: Jul 20
Changed: Oct 25
Last Checked: Oct 28 at 7:04AM
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 Colliers - Seattle, Washington
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.
211 1st Ave S is a character-rich, 1900-vintage brick mixed-use building featuring four fully occupied residential units. The property also includes approximately 6,000 square feet of street-level and lower-level commercial space, creating a combined residential and retail income profile within a single asset.
Located in the heart of Pioneer Square, the building’s commercial component is positioned along 1st Avenue South, supporting street-facing visibility for its retail uses.
The overall configuration provides consistent in-place residential occupancy alongside dedicated retail space at the ground and lower levels, allowing for streamlined property management under one ownership structure.
Located in the heart of Pioneer Square, the building’s commercial component is positioned along 1st Avenue South, supporting street-facing visibility for its retail uses.
The overall configuration provides consistent in-place residential occupancy alongside dedicated retail space at the ground and lower levels, allowing for streamlined property management under one ownership structure.
Key Highlights
- 1900‑vintage brick mixed‑use building in Pioneer Square
- 4 fully occupied residential units
- Approximately 6,000 sq. ft. of street‑level and lower‑level commercial/retail space
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$209,464
Cap Rate
7.62%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,189,280
$4.2M
Cap Rate 7%
$2,992,343
$3.0M
Cap Rate 9%
$2,327,378
$2.3M
Market Conditions
NOI Build-Up for 11,605 SF
Gross rent
$313.3K $27.00/SF
− Vacancy
−$14.1K −$1.22/SF
EGI
$299.2K $25.79/SF
− OpEx
−$89.8K −$7.74/SF
NOI
$209.5K $18.05/SF
Area
Seattle, WA
Vacancy
4.50%
Lease Rate
$27.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,189,280
Cap Rate 7%
$2,992,343
Cap Rate 9%
$2,327,378
Alternative Uses
Best Use
Multifamily LT 5
$2.99M
$2.62M – $3.49M
NOI $209,464 @ 7.0% cap · market cap 7.62%
Second Best
Apartment 5plus
$2.80M
$2.45M – $3.26M
NOI $195,867 @ 7.0% cap · market cap 7.12%
Theoretical Best
Office A
$3.49M
$3.05M – $4.07M
NOI $244,398 @ 7.0% cap · market cap 8.89%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
12,655
Businesses Nearby
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Mixed-use property - 1900-vintage brick building with four fully occupied residential units and approximately 6,000 sq. ft. of street-level and lower-level retail space.
Where is this mixed-use property located?
The property is located at 211 1st Avenue South Seattle, WA.
What is the asking price?
The asking price for this property is $2,750,000.
What are key features of this property?
This property features: 1900‑vintage brick mixed‑use building in Pioneer Square; 4 fully occupied residential units; Approximately 6,000 sq. ft. of street‑level and lower‑level commercial/retail space
