Lake Union Adjacent Office
3919 Latona Ave NE Seattle, WA 98105
For Sale
Contact for pricing
2405 SF office space near Lake Union, Seattle.
Property Size2,405 SF
Lot Size0.32 Acres
Price / SF$291.06
Days on Market184
Property Features for 3919 Latona Ave NE
General Information
Standard status
Active
Size
2,405 SF
Lot size
0.32 Acres
Property subtype
OFFICE
Listing Agency:
The Andover Company, Inc.
(206) 336-5330
Listed By:
Mike Hemphill
(206) 336-5325
Source:
Moodyscre
Added: Jan 27
Changed: Jul 6
Last Checked: Jul 21 at 6:45AM
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 The Andover Company, Inc.
Investment Insights
Based on property information with market context.
This 2405 square foot office space presents an investment opportunity. The layout includes conference rooms, open work areas, and a reception area, along with two bathrooms and a small kitchen with an eating area. The unit is located in a mixed-use complex with commercial and retail spaces on the main floor and condos above. It includes six reserved parking spaces arranged in three tandem deep configurations within a secure parking garage. The property is currently leased to a nonprofit organization with an expiring lease that has expressed interest in extending their lease. Situated one block from Lake Union, the location offers proximity to dining options and the UW hospital.
Key Highlights
- Excellent investment opportunity with existing tenant interested in extending their lease.
- 2405 sq. ft. office space featuring conference rooms, open work areas, and a reception area.
- Prime location: One block from Lake Union, close to dining, and UW hospital.
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 | $73.0k | $30.36 |
| − Vacancy | −$16.7k | −$6.95 |
| EGI | $56.3k | $23.41 |
| − OpEx | −$14.1k | −$5.85 |
| NOI | $42.2k | $17.56 |
2,405 SF · lease $30.36/SF/yr · vacancy 22.90% · expense 25.00%
Alternative Uses
Best Use
Office B
$603.2K
$527.8K – $703.7K
NOI $42,221 @ 7.0% cap · market cap 6.03%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$723.6K
$633.1K – $844.2K
NOI $50,649 @ 7.0% cap · market cap 7.24%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Office units - 2405 SF office space near Lake Union, Seattle.
Where is this office units located?
The property is located at 3919 Latona Ave NE Seattle, WA.
What is the asking price?
The asking price for this property is $700,000.
What are key features of this property?
This property features: Excellent investment opportunity with existing tenant interested in extending their lease.; 2405 sq. ft. office space featuring conference rooms, open work areas, and a reception area.; Prime location: One block from Lake Union, close to dining, and UW hospital.
