Lake Union Adjacent Office
For Sale
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3919 Latona Ave NE, Seattle, WA 98105
2405 SF office space near Lake Union, Seattle.
Property Size2,405 SF
Lot Size0.32 Acres
Price / SF$291.06
Days on Market284
Property Features for 3919 Latona Ave NE
General Information
Standard status
Active
Size
2,405 SF
Lot size
0.32 Acres
Property subtype
OFFICE
Site & Location
Neighborhood
Latona
Listing Agency:
The Andover Company, Inc.
(206) 244-0770
Listed By:
Ben Hemphill · License #24028177
(206) 336-5330
Source:
Moodyscre
Added: Jan 27
Changed: Oct 26
Last Checked: Nov 6 at 6:06AM
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.
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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
Estimated NOI and Cap Rate
NOI / Yr
$42,221
Cap Rate
6.03%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$844,420
$844.4K
Cap Rate 7%
$603,157
$603.2K
Cap Rate 9%
$469,122
$469.1K
Market Conditions
NOI Build-Up for 2,405 SF
Gross rent
$73.0K $30.36/SF
− Vacancy
−$16.7K −$6.95/SF
EGI
$56.3K $23.41/SF
− OpEx
−$14.1K −$5.85/SF
NOI
$42.2K $17.56/SF
Area
Seattle, WA
Vacancy
22.90%
Lease Rate
$30.36 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$844,420
Cap Rate 7%
$603,157
Cap Rate 9%
$469,122
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.
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Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
2,839
Businesses Nearby
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Business Placement
Demographics for 98105, WA
49,151
Population
20,582
Households
2.4
Avg Household Size
27
Median Age
77%
College-Educated
99%
High-School Grad
3.8 sq mi
ZIP Area
12,934
Density / Sq Mi
$78,691
Median Household Income
$34,947
Median Earnings
$1,803
Median Rent
$1,261,100
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Office Units in Seattle, WA
Properties on Market for Office Units in Seattle
Vacancy Rate% for Office in Seattle, WA
Frequently Asked Questions
What type of property is this?
Office unit - 2405 SF office space near Lake Union, Seattle.
Where is this office unit 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.
