4000 Airport Way S, Seattle, WA 98108

Listing Agency: Westlake Associates, Inc. Show Phone

Listed By: Matthew Little, CCIM Show Phone

Source: Moodyscre

Added: May 21 Changed: Oct 25 Last Checked: Nov 10 at 11:11AM

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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 Westlake Associates, Inc.

Ask AI about this property

Review the available facts, identify missing information and prepare questions for the agent.

What should I ask the agent before proceeding? What information is missing from this listing?

Investment Insights

Based on property information with market context.

This property is described as a retail corner with an additional man cave featuring 1,700 square feet of air-conditioned office space. The listing also notes the property’s suitability for many types of uses, while maintaining the existing office buildout as part of the overall configuration.

The asset is located at 4000 Airport Way S in Seattle, WA. The remarks further describe three restaurants on the other property corners along Airport Way S, which may contribute to an active surrounding retail environment.

Based on the provided information, the key functional components are the retail corner and the included air-conditioned office space.

Key Highlights

• 1,700 SF of air‑conditioned office space on a retail corner
• Man cave is included as part of the indoor office/retail corner space
• Retail corner at 4000 Airport Way South, Seattle with many potential uses

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$90,868

Cap Rate

5.36%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,817,360 $1.8M

Cap Rate 7%

$1,298,114 $1.3M

Cap Rate 9%

$1,009,644 $1.0M

Is this asking price fair?

Market Conditions

NOI Build-Up for 5,176 SF

Gross rent

$157.1K $30.36/SF

− Vacancy

−$36.0K −$6.95/SF

EGI

$121.2K $23.41/SF

− OpEx

−$30.3K −$5.85/SF

NOI

$90.9K $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%

$1,817,360

Cap Rate 7%

$1,298,114

Cap Rate 9%

$1,009,644

Alternative Uses

Best Use

Office B

$1.30M

$1.14M – $1.51M (±1% cap)

NOI $90,868 @ 7.0% cap · market cap 5.36%

Second Best

Retail

$1.10M

$964.7K – $1.29M (±1% cap)

NOI $77,179 @ 7.0% cap · market cap 4.55%

Theoretical Best

Office A

$1.56M

$1.36M – $1.82M (±1% cap)

NOI $109,005 @ 7.0% cap · market cap 6.43%

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

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Mj Directions, Llc Medical Supply Store United Building Services Construction Company

Suggested Use

Top Pick Grocery & Convenience Store Veterinary Clinic (Bike/Boat/Book/etc) Store Tanning Salon Pet Store Pet Store & Service

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

1,175

Businesses Nearby

Balanced

Demand for This Use

Explore this area Business Placement

Demographics for 98108, WA

25,009

Population

9,096

Households

2.7

Avg Household Size

37

Median Age

37%

College-Educated

83%

High-School Grad

7.4 sq mi

ZIP Area

3,380

Density / Sq Mi

$90,806

Median Household Income

$48,703

Median Earnings

$1,463

Median Rent

$693,500

Median Home Value

Market

Average Price Trend$/SF for Storefront properties in Seattle, WA

$368 Jul

$331 Aug

$364 Sep

$419 Oct

Properties on Market for Storefront properties in Seattle

Jul

Aug

Sep

Oct

Vacancy Rate% for Office in Seattle, WA

8.5% 2019

13.4% 2020

17.6% 2021

19.5% 2022

24.3% 2023

30% 2024

32.3% 2025

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Frequently Asked Questions

What type of property is this?

Storefront property - Retail corner offering 1,700 SF of air-conditioned office space and access to a multi-corner restaurant setting nearby.

Where is this storefront property located?

The property is located at 4000 Airport Way S Seattle, WA.

What is the asking price?

The asking price for this property is $1,695,000.

What are key features of this property?

This property features: 1,700 SF of air‑conditioned office space on a retail corner; Man cave is included as part of the indoor office/retail corner space; Retail corner at 4000 Airport Way South, Seattle with many potential uses