2117 2nd Ave, Seattle, WA 98121
Two-story, 10,380 SF mixed-use building in the heart of Belltown.
- Added:
- Nov 14, 2024
- Days on Market:
- 601
- Last Refresh:
- Jul 5 at 3:19 pm
Property Features for 2117 2nd Ave
General Information
- Standard status
- Active
- Size
- 10,380 SF
- Property subtype
- Mixed Use, Office, Retail
Building Details
- Year Built
- 1923
Listing office CenturyPacific, LLLP
Listing date Nov 14, 2024
Source Crexi
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 CenturyPacific, LLLP
HighLights
- Prime Belltown location, close to Seattle Waterfront, Pike Place Market, Seattle Center & Space Needle.
- Versatile two‑story building with 10,380 SF of space.
- Large, open ground‑floor concept with 17' ceilings.
- Includes a 3,900 SF mezzanine with kitchenette.
- Features a 6,480 SF sprinkled, secured garage level.
- Strong potential for redevelopment.
Overview
Local Financial Insights For Office B
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 | $315.1k | $30.36 |
| − Vacancy | −$72.2k | −$6.95 |
| EGI | $243.0k | $23.41 |
| − OpEx | −$60.7k | −$5.85 |
| NOI | $182.2k | $17.56 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- Seattle
- County
- King
- State
- Washington
- Longitude
- -122.3438789
- Latitude
- 47.6126481
