Mixed-Use Property with
For Sale
$1,650,000
305 65TH, Seattle, WA 98115
Combines an operating retail business with three housing units in Seattle’s Green Lake neighborhood.
Property Size3,250 SF
Lot Size0.12 Acres
Price / SF$507.69
Days on Market238
Property Features for 305 65TH
General Information
Standard status
Active
Size
3,250 SF
Lot size
0.12 Acres
Property subtype
Multi-family
Site & Location
Neighborhood
Roosevelt
Building Details
Year Built
1907
Buildings
1
Tenancy
Multi
Listing Agency:
Windermere Real Estate/M2,LLC
Listed By:
Nickolas Nicoloudakis
(425) 319-3125
Source:
Skylineproperties
Added: Mar 5
Changed: Oct 28
Last Checked: Oct 28 at 8:43AM
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 Windermere Real Estate/M2,LLC
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Investment Insights
Based on property information with market context.
This mixed-use building contains 3,250 square feet on a 5,400-square-foot lot and currently accommodates one retail business alongside three housing units. Built in 1907, the property combines commercial and residential components within one building.
Located in Seattle’s Green Lake neighborhood at 305 65TH, the property is subject to recent rezoning that allows construction up to 40 feet in height. The existing mixed-use configuration and updated height allowance define the property’s current physical and land-use profile.
Located in Seattle’s Green Lake neighborhood at 305 65TH, the property is subject to recent rezoning that allows construction up to 40 feet in height. The existing mixed-use configuration and updated height allowance define the property’s current physical and land-use profile.
Key Highlights
- 3,250‑square‑foot mixed‑use building on a 5,400‑square‑foot lot
- Currently includes 1 retail business and 3 housing units
- Recent rezoning allows building up to 40 feet in height
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$69,910
Cap Rate
4.24%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,398,200
$1.4M
Cap Rate 7%
$998,714
$998.7K
Cap Rate 9%
$776,778
$776.8K
Market Conditions
NOI Build-Up for 3,250 SF
Gross rent
$103.0K $31.68/SF
− Vacancy
−$3.1K −$0.95/SF
EGI
$99.9K $30.73/SF
− OpEx
−$30.0K −$9.22/SF
NOI
$69.9K $21.51/SF
Area
ZIP 98115
Vacancy
3.00%
Lease Rate
$31.68 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,398,200
Cap Rate 7%
$998,714
Cap Rate 9%
$776,778
Alternative Uses
Best Use
Retail
$998.7K
$873.9K – $1.17M
NOI $69,910 @ 7.0% cap · market cap 4.24%
Second Best
Mixed Use
$828.8K
$725.2K – $966.9K
NOI $58,013 @ 7.0% cap · market cap 3.52%
Theoretical Best
Office A
$1.30M
$1.14M – $1.52M
NOI $91,120 @ 7.0% cap · market cap 5.52%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,976
Businesses Nearby
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Business Placement
Demographics for 98115, WA
54,322
Population
24,966
Households
2.2
Avg Household Size
36
Median Age
78%
College-Educated
99%
High-School Grad
6.6 sq mi
ZIP Area
8,231
Density / Sq Mi
$148,190
Median Household Income
$82,332
Median Earnings
$2,118
Median Rent
$1,041,500
Median Home Value
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Combines an operating retail business with three housing units in Seattle’s Green Lake neighborhood.
Where is this mixed-use property located?
The property is located at 305 65TH Seattle, WA.
What is the asking price?
The asking price for this property is $1,650,000.
What are key features of this property?
This property features: 3,250‑square‑foot mixed‑use building on a 5,400‑square‑foot lot; Currently includes 1 retail business and 3 housing units; Recent rezoning allows building up to 40 feet in height
