Two-Level Storefront
For Sale
Contact for pricing
2521 1st Ave, Seattle, WA 98121
Street-facing commercial space with a private restroom and flexible lower-level areas for retail or service-oriented operations.
Property Size1,042 SF
Price / SF$2.54
Days on Market76
Property Features for 2521 1st Ave
General Information
Standard status
Active
Size
1,042 SF
Site & Location
Neighborhood
Belltown
Amenities
private restroom
Building Details
Year Built
1980
Stories
2
Listing Agency:
Keller Williams Downtown Sea
Listed By:
Nicholas T. Vilvandre · License #107068
(206) 612-7883
Source:
Theinspiregroup
Added: Aug 14
Changed: Oct 25
Last Checked: Oct 28 at 9:15AM
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 Keller Williams Downtown Sea
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Investment Insights
Based on property information with market context.
This two-level storefront property provides 1,042 SF of commercial space with a street-level customer-facing area and a full lower level. The lower floor adds room for workspace, treatment areas, offices, or storage and includes a private restroom. The layout can accommodate a range of retail and service concepts, including specialty retail, personal care, massage, tattoo, coffee, or grab-and-go operations, subject to permitted-use requirements and approvals.
The property is positioned at 1st & Vine in Belltown, steps from The Crocodile and near restaurants, entertainment venues, hotels, and residential buildings. Sidewalk café seating may be possible with the required approvals. Built in 1980, the space offers a visible storefront configuration in an established mixed-use commercial setting.
The property is positioned at 1st & Vine in Belltown, steps from The Crocodile and near restaurants, entertainment venues, hotels, and residential buildings. Sidewalk café seating may be possible with the required approvals. Built in 1980, the space offers a visible storefront configuration in an established mixed-use commercial setting.
Key Highlights
- 1,042 SF two‑level commercial space
- Street‑level storefront at 1st & Vine in Belltown
- Full lower level for workspace, office, treatment, or storage use
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$15,537
Suggested Prices Based on Cap Rates
Cap Rate 5%
$310,740
$310.7K
Cap Rate 7%
$221,957
$222.0K
Cap Rate 9%
$172,633
$172.6K
Market Conditions
NOI Build-Up for 1,042 SF
Gross rent
$22.9K $21.96/SF
− Vacancy
−$686 −$0.66/SF
EGI
$22.2K $21.30/SF
− OpEx
−$6.7K −$6.39/SF
NOI
$15.5K $14.91/SF
Area
Seattle, WA
Vacancy
3.00%
Lease Rate
$21.96 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$310,740
Cap Rate 7%
$221,957
Cap Rate 9%
$172,633
Alternative Uses
Best Use
Retail
$222.0K
$194.2K – $259.0K
NOI $15,537 @ 7.0% cap · market cap 586.30%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$313.5K
$274.3K – $365.7K
NOI $21,944 @ 7.0% cap · market cap 828.08%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
7,538
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 98121, WA
21,411
Population
15,781
Households
1.4
Avg Household Size
35
Median Age
78%
College-Educated
98%
High-School Grad
0.4 sq mi
ZIP Area
53,528
Density / Sq Mi
$148,974
Median Household Income
$118,893
Median Earnings
$2,329
Median Rent
$796,600
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in Seattle, WA
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Frequently Asked Questions
What type of property is this?
Storefront property - Street-facing commercial space with a private restroom and flexible lower-level areas for retail or service-oriented operations.
Where is this storefront property located?
The property is located at 2521 1st Ave Seattle, WA.
What are key features of this property?
This property features: 1,042 SF two‑level commercial space; Street‑level storefront at 1st & Vine in Belltown; Full lower level for workspace, office, treatment, or storage use
