Seattle Retail Opportunity For
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2801 S Hanford St, Seattle, WA 98144
Retail property available in Seattle, suitable for owner or investment.
Property Size3,727 SF
Price / SF$347.46
Days on Market160
Property Features for 2801 S Hanford St
General Information
Standard status
Active
Size
3,727 SF
Property subtype
Retail
Zoning
SM-NR-95(M)
Occupancy
100%
Building Details
Year Built
1906
Year Renovated
2006
Buildings
1
Stories
2
Tenancy
Multi
Listing Agency:
Coldwell Banker Danforth Seattle
(425) 478-7546
Listed By:
Heidi Ihde · License #WA 21025621
Source:
Crexi
Added: Mar 5
Changed: Aug 8
Last Checked: Aug 11 at 7:48PM
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 Coldwell Banker Danforth Seattle
Investment Insights
Based on property information with market context.
This commercial real estate offering in Seattle presents an opportunity for either an owner-user or an investor. The property, suitable for storefront or retail use, has a size of 3727 square feet.
Key Highlights
- Owner/user or investment opportunity
- Built in 1906, offering historic charm
- Opportunity for customization/renovation
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
$55,573
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
4.29%
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%
$1,111,460
$1.1M
Cap Rate 7%
$793,900
$793.9K
Cap Rate 9%
$617,478
$617.5K
Market Conditions
NOI Build-Up for 3,727 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
$81.8K $21.96/SF
− Vacancy
−$2.5K −$0.66/SF
EGI
$79.4K $21.30/SF
− OpEx
−$23.8K −$6.39/SF
NOI
$55.6K $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 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%
$1,111,460
Cap Rate 7%
$793,900
Cap Rate 9%
$617,478
Alternative Uses
Best Use
Retail
$793.9K
$694.7K – $926.2K
NOI $55,573 @ 7.0% cap · market cap 4.29%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.12M
$981.1K – $1.31M
NOI $78,490 @ 7.0% cap · market cap 6.06%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
769
Businesses Nearby
68k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 56%
Dining 28%
Shops & Services 16%
QFC
Groceries
38,486 visits/mo
0.4 miles
Wendy's
Dining
18,910 visits/mo
0.4 miles
O'Reilly Auto Parts
Shops & Services
6,849 visits/mo
0.3 miles
U-Haul
Shops & Services
3,941 visits/mo
0.5 miles
Demographics for 98144, WA
32,178
Population
16,381
Households
2
Avg Household Size
38
Median Age
62%
College-Educated
91%
High-School Grad
3.4 sq mi
ZIP Area
9,464
Density / Sq Mi
$94,051
Median Household Income
$65,078
Median Earnings
$1,805
Median Rent
$890,400
Median Home Value
Market
Vacancy Rate% for Retail in Seattle, WA
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Storefront property - Retail property available in Seattle, suitable for owner or investment.
Where is this storefront property located?
The property is located at 2801 S Hanford St Seattle, WA.
What is the asking price?
The asking price for this property is $1,295,000.
What are key features of this property?
This property features: Owner/user or investment opportunity; Built in 1906, offering historic charm; Opportunity for customization/renovation
