Just Poke Restaurant With
For Sale
$350,000
334 NE Northgate Way, Seattle, WA 98125
Recognizable franchise restaurant with an efficient layout, customer parking, and exposure along Northgate Way.
Property Size1,315 SF
Price / SF$266.16
Days on Market16
Property Features for 334 NE Northgate Way
General Information
Standard status
Active
Size
1,315 SF
Property subtype
Business Opportunity
Financials
Asking Price
$350,000
Business Included
Yes
Additional Details
Seating Capacity
15
Listing Agency:
Realty ONE Group Orca Gold
(425) 646-8557
Listed By:
Jina Fiveash
Source:
Montgomeryht
Added: Aug 14
Changed: Aug 28
Last Checked: Aug 29 at 12:13PM
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 Realty ONE Group Orca Gold
Investment Insights
Based on property information with market context.
Just Poke Northgate is a 1,315-square-foot conventional restaurant with a 15-seat dining area and an efficient interior arrangement. The premises are described as clean and easy to maintain, with parking serving both customers and staff.
The restaurant is located at 334 NE Northgate Way in Seattle, surrounded by neighboring businesses. Its position along Northgate Way provides street exposure and convenient access for visitors. The established franchise format and existing restaurant setup support continued operation from the current premises.
The restaurant is located at 334 NE Northgate Way in Seattle, surrounded by neighboring businesses. Its position along Northgate Way provides street exposure and convenient access for visitors. The established franchise format and existing restaurant setup support continued operation from the current premises.
Key Highlights
- Just Poke Northgate franchise restaurant at 334 NE Northgate Way, Seattle, WA 98125
- 1,315‑square‑foot restaurant with 15 seats
- Efficient layout with a clean, easy‑to‑maintain interior
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
$29,694
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
8.48%
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%
$593,880
$593.9K
Cap Rate 7%
$424,200
$424.2K
Cap Rate 9%
$329,933
$329.9K
Market Conditions
NOI Build-Up for 1,315 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
$41.0K $31.20/SF
− Vacancy
−$1.4K −$1.09/SF
EGI
$39.6K $30.11/SF
− OpEx
−$9.9K −$7.53/SF
NOI
$29.7K $22.58/SF
Area
ZIP 98125
Vacancy
3.50%
Lease Rate
$31.20 /SF/Yr
Expense Ratio
25.00%
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%
$593,880
Cap Rate 7%
$424,200
Cap Rate 9%
$329,933
Alternative Uses
Best Use
Specialty Retail
$424.2K
$371.2K – $494.9K
NOI $29,694 @ 7.0% cap · market cap 8.48%
Second Best
—
—
no second resolved use
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
2,762
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 98125, WA
42,965
Population
21,493
Households
2
Avg Household Size
37
Median Age
61%
College-Educated
94%
High-School Grad
5.4 sq mi
ZIP Area
7,956
Density / Sq Mi
$96,725
Median Household Income
$61,552
Median Earnings
$1,856
Median Rent
$844,500
Median Home Value
Market
Vacancy Rate% for Retail in Seattle, WA
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Recognizable franchise restaurant with an efficient layout, customer parking, and exposure along Northgate Way.
Where is this conventional restaurant located?
The property is located at 334 NE Northgate Way Seattle, WA.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: Just Poke Northgate franchise restaurant at 334 NE Northgate Way, Seattle, WA 98125; 1,315‑square‑foot restaurant with 15 seats; Efficient layout with a clean, easy‑to‑maintain interior
