SODO Full Block Industrial
For Sale
Contact for pricing
Pending
4000 7th Ave S, Seattle, WA 98119
28,800 SF lot in SODO with redevelopment potential.
Property Size11,340 SF
Lot Size0.66 Acres
Days on Market384
Property Features for 4000 7th Ave S
General Information
Standard status
Pending
Size
11,340 SF
Lot size
0.66 Acres
Property subtype
INDUSTRIAL
Listing Agency:
NAI Puget Sound Properties
(425) 586-5631
Listed By:
Nick Bierly · License #126435
(425) 586-5631
Source:
Moodyscre
Added: Aug 5, 2025
Changed: Aug 9
Last Checked: Aug 22 at 1:50PM
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 NAI Puget Sound Properties
Investment Insights
Based on property information with market context.
This vacant property presents an opportunity for either an owner-user seeking a long-term presence in the SODO area or an investor looking to capitalize on the strong demand and limited supply within the urban industrial sector. The property features an 11,340 SF industrial building equipped with one dock-high door, one ramp door, and heavy power, accommodating a wide range of industrial uses. The site encompasses a full city block in the core of SODO, offering site control, functionality, and redevelopment potential. The lot is fenced and gated, providing security, outside storage, and vehicle maneuverability. Located in the MML U/85 zone, the property allows for a variety of light industrial and commercial uses. The location provides proximity to I-5, SR-99, the Port of Seattle, and Downtown, making it suitable for logistics, warehouse, and industrial operations. Attractive seller financing options are available.
Key Highlights
- Rare Full Block Site: 28,800 SF lot in the core of SODO offering excellent site control and redevelopment potential.
- Centrally Located in SODO: Outstanding location with proximity to I‑5, SR‑99, the Port of Seattle, and Downtown.
- Secured Yard Space: Fenced and gated lot providing security, outside storage, and vehicle maneuverability.
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
$124,640
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
4.53%
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%
$2,492,800
$2.5M
Cap Rate 7%
$1,780,571
$1.8M
Cap Rate 9%
$1,384,889
$1.4M
Market Conditions
NOI Build-Up for 11,340 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
$159.2K $14.04/SF
− Vacancy
−$12.6K −$1.11/SF
EGI
$146.6K $12.93/SF
− OpEx
−$22.0K −$1.94/SF
NOI
$124.6K $10.99/SF
Area
Seattle, WA
Vacancy
7.90%
Lease Rate
$14.04 /SF/Yr
Expense Ratio
15.00%
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%
$2,492,800
Cap Rate 7%
$1,780,571
Cap Rate 9%
$1,384,889
Alternative Uses
Best Use
Warehouse
$1.78M
$1.56M – $2.08M
NOI $124,640 @ 7.0% cap · market cap 4.53%
Second Best
Industrial
$1.47M
$1.28M – $1.71M
NOI $102,645 @ 7.0% cap · market cap 3.73%
Theoretical Best
Office A
$3.41M
$2.99M – $3.98M
NOI $238,817 @ 7.0% cap · market cap 8.68%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,175
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 98119, WA
26,238
Population
15,323
Households
1.7
Avg Household Size
35
Median Age
71%
College-Educated
99%
High-School Grad
2.4 sq mi
ZIP Area
10,933
Density / Sq Mi
$125,021
Median Household Income
$74,038
Median Earnings
$1,963
Median Rent
$1,032,500
Median Home Value
Market
Vacancy Rate% for Industrial in Seattle, WA
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Urban Storage @ Rainier Brewery - Annex — 3250 Airport Wy S, Seattle, WA 98134
- Portable Storage Rental Pros Seattle — 4617 Ohio Ave S, Seattle, WA 98134
- Urban Self Storage — 918 S Horton St Ste 1000, Seattle, WA 98134
- South Seattle Distribution Center — Seattle, WA 98134
- Seattle Sodo Storage — 3201 1st Ave S, Seattle, WA 98134
Frequently Asked Questions
What type of property is this?
Warehouse - 28,800 SF lot in SODO with redevelopment potential.
Where is this warehouse located?
The property is located at 4000 7th Ave S Seattle, WA.
What is the asking price?
The asking price for this property is $2,750,000.
What are key features of this property?
This property features: Rare Full Block Site: **28,800 SF lot** in the core of SODO offering excellent site control and redevelopment potential.; Centrally Located in SODO: Outstanding location with proximity to I‑5, SR‑99, the Port of Seattle, and Downtown.; Secured Yard Space: Fenced and gated lot providing security, outside storage, and vehicle maneuverability.
