Coffee Shop Condo with Deeded
2929 1st Ave, Seattle, WA 98121
For Sale
Contact for pricing
Vacant coffee shop condo built out as a cafe in turn-key condition with equipment and a wide row of windows.
Property Size1,734 SF
Price / SF$470.01
Days on Market211
Property Features for 2929 1st Ave
General Information
Standard status
Size
Total Parking Spaces
Property subtype
Site & Location
Neighborhood
Listing Agency:
Ewing & Clark Comm'l Brokerage
(206) 695-4823
Listed By:
Peter Argeres
(206) 612-7877
Source:
Moodyscre
Added: Apr 14
Changed: Oct 26
Last Checked: Nov 10 at 11:08AM
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
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Investment Insights
Based on property information with market context.
Unit B is a vacant coffee shop condo built out as a cafe in turn-key condition, including some equipment. At 1,734 SF, the layout includes a wide row of windows designed for strong street presence.
The unit is positioned for walk-by exposure in a high-traffic corridor between Pike Place Market, Lower Queen Anne, and Climate Pledge Arena. Unit B also includes two deeded parking spaces, supporting convenient customer access.
Monthly condo dues are in place for the unit. Overall, the combination of a cafe build-out, prominent storefront glazing, and deeded parking makes Unit B well suited for an operator looking for an established in-place configuration.
The unit is positioned for walk-by exposure in a high-traffic corridor between Pike Place Market, Lower Queen Anne, and Climate Pledge Arena. Unit B also includes two deeded parking spaces, supporting convenient customer access.
Monthly condo dues are in place for the unit. Overall, the combination of a cafe build-out, prominent storefront glazing, and deeded parking makes Unit B well suited for an operator looking for an established in-place configuration.
Key Highlights
- Vacant Unit B coffee shop condo built out as a cafe in turn‑key condition with some equipment
- 1,734 SF unit with a wide row of windows for street presence
- Two deeded parking spaces included
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$29,214
Cap Rate
3.58%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$584,280
$584.3K
Cap Rate 7%
$417,343
$417.3K
Cap Rate 9%
$324,600
$324.6K
Market Conditions
NOI Build-Up for 1,734 SF
Gross rent
$40.0K $23.04/SF
− Vacancy
−$999 −$0.58/SF
EGI
$39.0K $22.46/SF
− OpEx
−$9.7K −$5.62/SF
NOI
$29.2K $16.85/SF
Area
Seattle, WA
Vacancy
2.50%
Lease Rate
$23.04 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$584,280
Cap Rate 7%
$417,343
Cap Rate 9%
$324,600
Alternative Uses
Best Use
Specialty Retail
$417.3K
$365.2K – $486.9K
NOI $29,214 @ 7.0% cap · market cap 3.58%
Second Best
Retail
$369.4K
$323.2K – $430.9K
NOI $25,855 @ 7.0% cap · market cap 3.17%
Theoretical Best
Office A
$521.7K
$456.5K – $608.6K
NOI $36,518 @ 7.0% cap · market cap 4.48%
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
2,884
Businesses Nearby
Well-served
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
Properties on Market for Coffee shops in King County
Vacancy Rate% for Retail in Seattle, WA
Similar Off Market Nearby
- Coffeemind Queen Anne — 1907 10th Ave W, Seattle, WA 98119
- Emerald City Smoothie Queen Anne — 1835 Queen Anne Ave N, Seattle, WA 98119
- Queen Anne Coffee co. — 1811 Queen Anne Ave N, Seattle, WA 98109
- Starbucks — 2135 Queen Anne Ave N, Seattle, WA 98109
- Café Hagen Modern Scandinavian Cafe — 2128 Queen Anne Ave N, Seattle, WA 98109
Frequently Asked Questions
What type of property is this?
Coffee shop - Vacant coffee shop condo built out as a cafe in turn-key condition with equipment and a wide row of windows.
Where is this coffee shop located?
The property is located at 2929 1st Ave Seattle, WA.
What is the asking price?
The asking price for this property is $815,000.
What are key features of this property?
This property features: Vacant Unit B coffee shop condo built out as a cafe in turn‑key condition with some equipment; 1,734 SF unit with a wide row of windows for street presence; Two deeded parking spaces included
