University District Retail Investment
4339-4341 University Way NE, Seattle, WA
For Sale
Contact for pricing
Fully leased retail asset on high-traffic urban corridor.
Property Size7,978 SF
Lot Size0.09 Acres
Price / SF$501.38
Days on Market352
Property Features for 4339-4341 University Way NE
General Information
Standard status
Size
Lot size
Property subtype
Lease Type
Site & Location
Neighborhood
Properties For Sale
at 4339-4341 University Way NE
2nd Floor Office/Retail
AVAILABLE
Size
3,447 SF
Type
OFFICE
Lease Type
NNN
2nd floor, stair accessed, office/retail space right on University Way. Formerly Enkore Karaoke.
*Broker to verify commission with Listing Agent when submitting an offer.
Contact us
Listing Agency:
First Western Properties, Inc.
(425) 822-5522
Listed By:
Kyle Nordby · License WA #115601
(425) 250-3287
Source:
Moodyscre
Added: Nov 24, 2025
Changed: Nov 8
Last Checked: Nov 10 at 9:06AM
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 First Western Properties, Inc.
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This offering presents the opportunity to acquire a 100% leased, three-tenant retail asset located on "The Ave" in Seattle’s University District, a dynamic and high-traffic urban corridor. The property is positioned in a core location serving dense residential neighborhoods and the University of Washington community. All tenants are on NNN leases, providing a stable income stream with minimal landlord management. The site is zoned NC3P-65, potentially allowing for up to 6 stories of future development upside. The property size is 7978 square feet.
Key Highlights
- 100% leased retail asset, providing a stable income stream.
- Located in a high‑traffic, dynamic urban corridor (“The Ave”) in Seattle’s University District.
- Irreplaceable core location serving dense residential neighborhoods and the University of Washington community.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$118,959
Cap Rate
2.97%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,379,180
$2.4M
Cap Rate 7%
$1,699,414
$1.7M
Cap Rate 9%
$1,321,767
$1.3M
Market Conditions
NOI Build-Up for 7,978 SF
Gross rent
$175.2K $21.96/SF
− Vacancy
−$5.3K −$0.66/SF
EGI
$169.9K $21.30/SF
− OpEx
−$51.0K −$6.39/SF
NOI
$119.0K $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%
$2,379,180
Cap Rate 7%
$1,699,414
Cap Rate 9%
$1,321,767
Alternative Uses
Best Use
Retail
$1.70M
$1.49M – $1.98M
NOI $118,959 @ 7.0% cap · market cap 2.97%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.40M
$2.10M – $2.80M
NOI $168,014 @ 7.0% cap · market cap 4.20%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
3,567
Businesses Nearby
Explore this area
Business Placement
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Average Price Trend$/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 - Fully leased retail asset on high-traffic urban corridor.
Where is this retail space located?
The property is located at 4339-4341 University Way NE Seattle, WA.
What is the asking price?
The asking price for this property is $4,000,000.
What are key features of this property?
This property features: 100% leased retail asset, providing a stable income stream.; Located in a high‑traffic, dynamic urban corridor (“The Ave”) in Seattle’s University District.; Irreplaceable core location serving dense residential neighborhoods and the University of Washington community.
