Versatile Commercial Condo in
2929 1st Ave Seattle, WA 98121
2929 1st Ave, Seattle, WA, 98121
$635,000
For Sale
$635,000
1,509 SF vacant condo in high-traffic Seattle location.
Property Size1,509 SF
Price / SF$420.81
Days on Market98
Property Features for 2929 1st Ave
General Information
- Standard status
- Active
- Size
- 1,509 SF
- Property subtype
- Commercial
Building Details
- Year Built
- 1999
Listing agency
EWING & CLARK COMM'L BROKERAGE
(206) 612-7877
Listed by
PETER ARGERES
Source
Corcoran
Added: Apr 16 Updated: Jul 10 at 3:55PM Checked: Jul 21 at 5:26AM
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 EWING & CLARK COMM'L BROKERAGE
Investment Insights
Based on property information with market context.
This 1,509 SF vacant commercial condo is located in the Concord Condominium. The versatile unit offers a clean slate for a variety of business concepts. Full electrical and plumbing infrastructure are already in place. The layout features three private rooms, suitable for offices, treatment rooms, or changing areas. Situated in a high-traffic corridor between Pike Place Market, Lower Queen Anne, and Climate Pledge Arena, the unit offers visibility and street presence. The property includes one deeded parking space with monthly dues of $1,566.38. This turn-key shell is ready for a retail boutique, a professional spa, or a modern office.
Key Highlights
- Prime location in a high‑traffic corridor between Pike Place Market, Lower Queen Anne, and Climate Pledge Arena, offering great visibility.
- 1,509 SF vacant commercial condo providing a versatile space for various business concepts.
- Turn‑key shell with full electrical and plumbing infrastructure already in place.
Local Financial Insights For Office B
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 | $45.8k | $30.36 |
| − Vacancy | −$10.5k | −$6.95 |
| EGI | $35.3k | $23.41 |
| − OpEx | −$8.8k | −$5.85 |
| NOI | $26.5k | $17.56 |
1,509 SF · lease $30.36/SF/yr · vacancy 22.90% · expense 25.00%
Alternative Uses
Best Use
Office B
$378.5K
$331.2K – $441.5K
NOI $26,492 @ 7.0% cap · market cap 4.17%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$454.0K
$397.2K – $529.7K
NOI $31,779 @ 7.0% cap · market cap 5.00%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Retina Institute of WA ...
Medical Clinic
Pinch/Zoom
Marketing & Advertising
Kendall Hunt Publishing ...
Publishing House
Concord Condominiums
Condominium Complex
Robert Wade Photography
Photography Service
Similar For Sale Nearby
FAQs
What type of property is this?
Office units - 1,509 SF vacant condo in high-traffic Seattle location.
Where is this office units located?
The property is located at 2929 1st Ave Seattle, WA.
What is the asking price?
The asking price for this property is $635,000.
What are key features of this property?
This property features: Prime location in a high‑traffic corridor between Pike Place Market, Lower Queen Anne, and Climate Pledge Arena, offering great visibility.; 1,509 SF vacant commercial condo providing a versatile space for various business concepts.; Turn‑key shell with full electrical and plumbing infrastructure already in place.
