Remodeled Restaurant with
For Sale
$130,000
2357 10th Ave E, Seattle, WA 98102
Remodeled restaurant with commercial kitchen infrastructure and on-site parking near 520.
Property Size1,100 SF
Price / SF$118.18
Days on Market45
Property Features for 2357 10th Ave E
General Information
Standard status
Active
Size
1,100 SF
Total Parking Spaces
20
Property subtype
Business Opportunity
Restaurant
Commercial Hood
Yes
Equipment Included
Yes
Additional Details
Highway Access
Yes
Listing Agency:
RE/MAX Town Center
(425) 922-1343
Listed By:
Amy Wang · License #1110494
Source:
Montgomeryht
Added: Jul 16
Changed: Aug 28
Last Checked: Aug 25 at 5:12AM
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 RE/MAX Town Center
Investment Insights
Based on property information with market context.
This restaurant property at 2357 10th Ave E in Seattle includes approximately 1100 sqft of remodeled interior space. The existing setup features one Type I hood, one Type II hood, and a walk-in refrigerator, providing established commercial kitchen infrastructure for a restaurant operation.
The property includes 20 parking spots and is located near 520. The offering is not a franchise opportunity, allowing the next operator to pursue a fresh concept using the existing restaurant improvements and equipment.
The property includes 20 parking spots and is located near 520. The offering is not a franchise opportunity, allowing the next operator to pursue a fresh concept using the existing restaurant improvements and equipment.
Key Highlights
- 1100 sqft remodeled restaurant property
- One Type I hood and one Type II hood
- Walk‑in refrigerator included
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$9,957
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.66%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$199,140
$199.1K
Cap Rate 7%
$142,243
$142.2K
Cap Rate 9%
$110,633
$110.6K
Market Conditions
NOI Build-Up for 1,100 SF
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.
Gross rent
$15.4K $14.04/SF
− Vacancy
−$1.2K −$1.11/SF
EGI
$14.2K $12.93/SF
− OpEx
−$4.3K −$3.88/SF
NOI
$10.0K $9.05/SF
Area
Seattle, WA
Vacancy
7.90%
Lease Rate
$14.04 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$199,140
Cap Rate 7%
$142,243
Cap Rate 9%
$110,633
Alternative Uses
Best Use
Specialty Retail
$264.8K
$231.7K – $308.9K
NOI $18,533 @ 7.0% cap · market cap 14.26%
Second Best
Industrial
$142.2K
$124.5K – $166.0K
NOI $9,957 @ 7.0% cap · market cap 7.66%
Theoretical Best
Office A
$330.9K
$289.6K – $386.1K
NOI $23,166 @ 7.0% cap · market cap 17.82%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Highway access
Yes
Commercial hood
Location Intelligence
Trade Area within ½ mile
1,538
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 98102, WA
25,066
Population
17,944
Households
1.4
Avg Household Size
34
Median Age
79%
College-Educated
99%
High-School Grad
1.3 sq mi
ZIP Area
19,282
Density / Sq Mi
$114,395
Median Household Income
$80,130
Median Earnings
$1,920
Median Rent
$988,700
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.
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Remodeled restaurant with commercial kitchen infrastructure and on-site parking near 520.
Where is this conventional restaurant located?
The property is located at 2357 10th Ave E Seattle, WA.
What is the asking price?
The asking price for this property is $130,000.
What are key features of this property?
This property features: 1100 sqft remodeled restaurant property; One Type I hood and one Type II hood; Walk‑in refrigerator included
