Greenlake Retail/Office End-Cap
405 Northeast 71st Street, Seattle, WA
For Sale
Contact for pricing
Highly visible retail or office space in desirable Greenlake neighborhood.
Property Size2,232 SF
Lot Size0.70 Acres
Price / SF$492.83
Days on Market484
Property Features for 405 Northeast 71st Street
General Information
Standard status
Size
Lot size
Property subtype
Site & Location
Neighborhood
Listing Agency:
TS Property Management, Inc.
(253) 512-1000
Listed By:
Brian Seung Shin
(253) 249-8011
Source:
Moodyscre
Added: Jul 15, 2025
Changed: Nov 7
Last Checked: Nov 10 at 11:07AM
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 TS Property Management, Inc.
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Located in the heart of Greenlake, this highly visible end-cap unit offers 2,232 square feet of space suitable for retail or professional office use. The property includes two reserved parking spaces in a secure garage right next to the unit. Currently built out as a dry cleaner, the existing equipment can be removed within two weeks. This presents an excellent opportunity for an owner-user in one of Seattle’s most desirable neighborhoods.
Key Highlights
- Prime Greenlake location, highly visible end‑cap unit.
- Two reserved parking spaces in a secure garage.
- Suitable for retail or professional office use.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$33,281
Cap Rate
3.03%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$665,620
$665.6K
Cap Rate 7%
$475,443
$475.4K
Cap Rate 9%
$369,789
$369.8K
Market Conditions
NOI Build-Up for 2,232 SF
Gross rent
$49.0K $21.96/SF
− Vacancy
−$1.5K −$0.66/SF
EGI
$47.5K $21.30/SF
− OpEx
−$14.3K −$6.39/SF
NOI
$33.3K $14.91/SF
Area
Seattle, WA
Vacancy
3.00%
Lease Rate
$21.96 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$665,620
Cap Rate 7%
$475,443
Cap Rate 9%
$369,789
Alternative Uses
Best Use
Retail
$475.4K
$416.0K – $554.7K
NOI $33,281 @ 7.0% cap · market cap 3.03%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$671.5K
$587.6K – $783.4K
NOI $47,005 @ 7.0% cap · market cap 4.27%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,742
Businesses Nearby
Explore this area
Business Placement
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Retail space in Seattle, WA
Properties on Market for Retail space in Seattle
Vacancy Rate% for Retail in Seattle, WA
Frequently Asked Questions
What type of property is this?
Retail space - Highly visible retail or office space in desirable Greenlake neighborhood.
Where is this retail space located?
The property is located at 405 Northeast 71st Street Seattle, WA.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: Prime Greenlake location, **highly visible end‑cap unit.**; Two reserved parking spaces in a secure garage.; Suitable for retail or professional office use.
