Building Details

Year Built 1905

Listing Agency: Real Broker LLC

Listed By: Chris Schniegenberg Show Phone

Source: Theinspiregroup

Added: Aug 22 Changed: Oct 5 Last Checked: Oct 13 at 12:27AM

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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 Real Broker LLC

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$31,045

Cap Rate

2.82%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$620,900 $620.9K

Cap Rate 7%

$443,500 $443.5K

Cap Rate 9%

$344,944 $344.9K

Market Conditions

NOI Build-Up for 1,720 SF

Gross rent

$46.4K $27.00/SF

− Vacancy

−$2.1K −$1.22/SF

EGI

$44.4K $25.79/SF

− OpEx

−$13.3K −$7.74/SF

NOI

$31.0K $18.05/SF

Area

Seattle, WA

Vacancy

4.50%

Lease Rate

$27.00 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$620,900

Cap Rate 7%

$443,500

Cap Rate 9%

$344,944

Alternative Uses

Best Use

Multifamily LT 5

$443.5K

$388.1K – $517.4K (±1% cap)

NOI $31,045 @ 7.0% cap · market cap 2.82%

Second Best

Apartment 5plus

$414.7K

$362.9K – $483.8K (±1% cap)

NOI $29,030 @ 7.0% cap · market cap 2.64%

Theoretical Best

Office A

$517.5K

$452.8K – $603.7K (±1% cap)

NOI $36,223 @ 7.0% cap · market cap 3.29%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Duplexes

Suggested Use

Top Pick Grocery & Convenience Store Barber Shop (Bike/Boat/Book/etc) Store Food Market Butcher Mobile Phone Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

2,290

Businesses Nearby

Explore this area Business Placement

Demographics for 98109, WA

34,551

Population

23,162

Households

1.5

Avg Household Size

32

Median Age

78%

College-Educated

98%

High-School Grad

1.9 sq mi

ZIP Area

18,185

Density / Sq Mi

$130,845

Median Household Income

$104,202

Median Earnings

$2,329

Median Rent

$986,000

Median Home Value

Market

Vacancy Rate% for Multifamily in West region

7% 2022

7.8% 2023

8.6% 2024

8.6% 2025

Questions? Ask Rey

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Frequently Asked Questions

Where is this duplex located?

The property is located at 3115 Queen Anne Ave N Seattle, WA.

What is the asking price?

The asking price for this property is $1,100,000.