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Versatile Leased Mixed-Use Property

2201 15th Ave W, Seattle, WA 98122

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For Sale

Contact for pricing

Fully leased mixed-use property with office, retail, and warehouse spaces.

Type:RETAIL

Property size:

23,507 SF

Lot size:

0.28 Acres

Price / SF:

$244/SF

HighLights

Fully leased, income‑producing property offers immediate return on investment.
Versatile building with three distinct levels: office, retail, and warehouse.
C1‑55 (M) zoning allows for a wide range of uses including retail, supermarkets, and building supply.
Elevator service connects all three levels for seamless access.
Absence of parking requirements maximizes space utilization and efficiency.
Mix of uses ensures stability and long‑term adaptability.

We can help!

Listing Contact

Amanda Hahnemann, CCIM

For Sale

Contact for pricing

Fully leased mixed-use property with office, retail, and warehouse spaces.

Type:RETAIL

Property size:

23,507 SF

Lot size:

0.28 Acres

Price / SF:

$244/SF

Added:: Sep 4, 2024
Days on Market:: 650
Last Refresh:: Apr 5 at 8:15 pm

Property Features for 2201 15th Ave W

General Information

Standard status: Active
Size: 23,507 SF
Lot size: 0.28 Acres
Property subtype: RETAIL

We can help!

Listing Contact

Amanda Hahnemann, CCIM

Listing agent Amanda Hahnemann, CCIM

Listing office Lee & Associates Commercial Real Estate Services

Listing date Sep 4, 2024

Source Moodyscre

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 Lee & Associates Commercial Real Estate Services

HighLights

Fully leased, income‑producing property offers immediate return on investment.
Versatile building with three distinct levels: office, retail, and warehouse.
C1‑55 (M) zoning allows for a wide range of uses including retail, supermarkets, and building supply.
Elevator service connects all three levels for seamless access.
Absence of parking requirements maximizes space utilization and efficiency.
Mix of uses ensures stability and long‑term adaptability.

Overview

This fully leased property presents a rare investment opportunity with a versatile, income-producing asset. The building features three distinct levels: professional office space on the upper floor, highly visible retail space at street level, and efficient warehouse space on the lower level. Elevator service seamlessly connects all three levels. The property is zoned C1-55 (M), which is a flexible designation that permits uses such as supermarkets, building supply, household goods, and specialty retail. The absence of parking requirements for non-residential uses enhances efficiency and maximizes space utilization. The property has a total size of 23507 square feet.

Local Financial Insights For Office B

Simulate Cap Rate and NOI

NOI Build-Up

Component	$	$/SF
Gross rent	$713.7k	$30.36
− Vacancy	−$163.4k	−$6.95
EGI	$550.2k	$23.41
− OpEx	−$137.6k	−$5.85
NOI	$412.7k	$17.56

23,507 SF · lease $30.36/SF/yr · vacancy 22.90% · expense 25.00%

Alternative Uses

Best Use

Office B

$5.90M

$5.16M – $6.88M (±1% cap)

NOI $412,681 @ 7.0% cap · market cap 7.18%

Second Best

Retail

$5.01M

$4.38M – $5.84M (±1% cap)

NOI $350,509 @ 7.0% cap · market cap 6.10%

Theoretical Best

Office A

$7.07M

$6.19M – $8.25M (±1% cap)

NOI $495,051 @ 7.0% cap · market cap 8.61%

Zoning and permitted uses should be independently verified with local authorities.

Property Profile Location Intelligence

Current Use by Public Records

Miyar Adventures Travel Agency Ascent Outdoors (Bike/Boat/Book/etc) Store

Suggested Use

Location Insight

Map
Local Demand

City: Seattle
County: King
State: Washington
Longitude: -122.377
Latitude: 47.6388

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For sale
Mixed-use properties
WA
Seattle
98122
2201 15th Ave W

What type of property is this?

Mixed-use property - Fully leased mixed-use property with office, retail, and warehouse spaces.

Where is this mixed-use property located?

The property is located at 2201 15th Ave W Seattle, WA.

What is the asking price?

The asking price for this property is $5,750,000.

What are key features of this property?

This property features: Fully leased, income‑producing property offers immediate return on investment.; Versatile building with three distinct levels: office, retail, and warehouse.; C1‑55 (M) zoning allows for a wide range of uses including retail, supermarkets, and building supply.

2201 15th Ave W, Seattle, WA 98122

Fully leased mixed-use property with office, retail, and warehouse spaces.

Property Features for 2201 15th Ave W

General Information

We can help!

HighLights

Overview

Local Financial Insights For Office B

Simulate Cap Rate and NOI

Alternative Uses

Current Use by Public Records

Suggested Use

Location Insight

Nearby Similar for Sale

South Park Industrial Flex Property

Perched Triplex with Private Parking

Warehouse/Flex Building in Georgetown

Seattle Industrial Building For Sale

Seattle Industrial Building For Sale

Mixed-Use Building Near Lake Washington

Seattle Retail/Warehouse Opportunity on Arterial

West Seattle Investment Opportunity

Upper Queen Anne Office Building

Ballard Avenue Retail Investment

Updated Property with Detached Warehouse

White Center Redevelopment Opportunity

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