Historic Mixed-Use Building with
213 1ST Seattle, WA 98104
213 1ST, Seattle, WA, 98104
$4,900,000
For Sale
$4,900,000
Four-story mixed-use building with leased ground-floor retail and 13 residential units.
Property Size16,974 SF
Price / SF$288.68
Days on Market622
Property Features for 213 1ST
General Information
- Standard status
- Active
- Size
- 16,974 SF
- Property subtype
- Multi-family
Building Details
- Year Built
- 1900
Listing agency
COMPASS
Listed by
Ben Kaufman
(206) 363-8509
Source
Century21northhomes
Added: Nov 6, 2024 Updated: Jul 10 at 1:48PM Checked: Jul 21 at 6:42AM
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 COMPASS
Investment Insights
Based on property information with market context.
Built in 1900, this well-maintained four-story mixed-use property includes 13 residential units and two retail spaces on the ground level. The residences feature open layouts, hardwood flooring, and contemporary finishes, with on-site laundry and an elevator serving the building. Unit mix includes four penthouses with rooftop decks, four lofts, four micro lofts, and one studio.
Located in Seattle’s Pioneer Square, the building sits on 1st St with street parking available, and it is described as having a Walk Score of 96. The two ground-level retail spaces are fully leased.
For an owner, this structure offers a straightforward live-work blend with multiple unit types for residential tenants and existing leasing in the retail component. The presence of on-site laundry and an elevator supports day-to-day convenience for occupants across the property, while the variety of layouts can help accommodate different household needs within a single building. The fully leased retail spaces add an established use on the ground floor alongside the residential program.
Located in Seattle’s Pioneer Square, the building sits on 1st St with street parking available, and it is described as having a Walk Score of 96. The two ground-level retail spaces are fully leased.
For an owner, this structure offers a straightforward live-work blend with multiple unit types for residential tenants and existing leasing in the retail component. The presence of on-site laundry and an elevator supports day-to-day convenience for occupants across the property, while the variety of layouts can help accommodate different household needs within a single building. The fully leased retail spaces add an established use on the ground floor alongside the residential program.
Key Highlights
- Built in 1900, 4‑story mixed‑use building in Pioneer Square with on‑site elevator
- Ground‑floor includes 2 retail spaces that are fully leased
- Residential units total 13: 4 penthouses with rooftop decks, 4 lofts, 4 micro lofts, and 1 studio
Local Financial Insights For Apartment 5plus
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 | $539.8k | $31.80 |
| − Vacancy | −$18.9k | −$1.11 |
| EGI | $520.9k | $30.69 |
| − OpEx | −$234.4k | −$13.81 |
| NOI | $286.5k | $16.88 |
16,974 SF · lease $31.80/SF/yr · vacancy 3.50% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$4.09M
$3.58M – $4.77M
NOI $286,485 @ 7.0% cap · market cap 5.85%
Second Best
Retail
$3.62M
$3.16M – $4.22M
NOI $253,097 @ 7.0% cap · market cap 5.17%
Theoretical Best
Office A
$5.11M
$4.47M – $5.96M
NOI $357,468 @ 7.0% cap · market cap 7.30%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Apartment building - Four-story mixed-use building with leased ground-floor retail and 13 residential units.
Where is this apartment building located?
The property is located at 213 1ST Seattle, WA.
What is the asking price?
The asking price for this property is $4,900,000.
What are key features of this property?
This property features: Built in 1900, 4‑story mixed‑use building in Pioneer Square with on‑site elevator; Ground‑floor includes 2 retail spaces that are fully leased; Residential units total 13: 4 penthouses with rooftop decks, 4 lofts, 4 micro lofts, and 1 studio
