Auto-Repair Property with
For Sale
Contact for pricing
4607-4613 37th Ave SW, Seattle, WA 98126
Auto-repair building offered for sale for the first time in over 40 years, covering two parcels totaling 11,500 SF.
Property Size4,500 SF
Lot Size0.26 Acres
Price / SF$488.89
Days on Market103
Property Features for 4607-4613 37th Ave SW
General Information
Standard status
Active
Size
4,500 SF
Lot size
0.26 Acres
Property subtype
RETAIL
Zoning
NC3-75 (M)
Listing Agency:
Lee & Associates Commercial Real Estate Services
(425) 454-4242
Listed By:
McCallum Mead
(425) 818-2656
Source:
Moodyscre
Added: May 26
Changed: Aug 8
Last Checked: Sep 5 at 5:33AM
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 Lee & Associates Commercial Real Estate Services
Investment Insights
Based on property information with market context.
This for-sale auto-repair property includes a 4,500 SF building on two parcels totaling 11,500 SF. The offering presents long-term flexibility under NC3-75 (M) zoning, supporting a range of investor and owner-user use cases.
The property is located at the entrance of the West Seattle Junction in Seattle, identified in the remarks as one of the city’s long-term growth markets. The site is being presented as a rare ownership opportunity, with the property noted as being offered for sale for the first time in more than 40 years.
Interested parties can review the two-parcel configuration and NC3-75 (M) zoning to assess fit for current operations and potential future redevelopment planning, consistent with the flexibility highlighted in the offering materials.
The property is located at the entrance of the West Seattle Junction in Seattle, identified in the remarks as one of the city’s long-term growth markets. The site is being presented as a rare ownership opportunity, with the property noted as being offered for sale for the first time in more than 40 years.
Interested parties can review the two-parcel configuration and NC3-75 (M) zoning to assess fit for current operations and potential future redevelopment planning, consistent with the flexibility highlighted in the offering materials.
Key Highlights
- 4,500 SF auto‑repair property offered for sale for the first time in over 40 years
- Two parcels total 11,500 land SF
- Zoned NC3‑75 (M) for long‑term flexibility for investors, owner‑users, and developers
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
$67,099
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
3.05%
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%
$1,341,980
$1.3M
Cap Rate 7%
$958,557
$958.6K
Cap Rate 9%
$745,544
$745.5K
Market Conditions
NOI Build-Up for 4,500 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
$98.8K $21.96/SF
− Vacancy
−$3.0K −$0.66/SF
EGI
$95.9K $21.30/SF
− OpEx
−$28.8K −$6.39/SF
NOI
$67.1K $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 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%
$1,341,980
Cap Rate 7%
$958,557
Cap Rate 9%
$745,544
Alternative Uses
Best Use
Retail
$958.6K
$838.7K – $1.12M
NOI $67,099 @ 7.0% cap · market cap 3.05%
Second Best
Industrial
$581.9K
$509.2K – $678.9K
NOI $40,732 @ 7.0% cap · market cap 1.85%
Theoretical Best
Office A
$1.35M
$1.18M – $1.58M
NOI $94,769 @ 7.0% cap · market cap 4.31%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
2,102
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 98126, WA
23,727
Population
10,824
Households
2.2
Avg Household Size
38
Median Age
60%
College-Educated
97%
High-School Grad
3.1 sq mi
ZIP Area
7,654
Density / Sq Mi
$114,030
Median Household Income
$73,642
Median Earnings
$1,708
Median Rent
$751,900
Median Home Value
Market
Vacancy Rate% for Retail in Seattle, WA
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Young's Home Services — 5401 Fauntleroy Wy SW, Seattle, WA 98136
- Courtesy Tire — 4820 California Ave SW, Seattle, WA 98116
- Johnston Auto Glass — 4742 42nd ave sw, seattle, wa 98116
- Sunshine Towing — 4815 Fauntleroy Wy SW, Seattle, WA 98116
- Jiffy Lube — 4000 SW Alaska St, Seattle, WA 98116
Frequently Asked Questions
What type of property is this?
Auto shop - Auto-repair building offered for sale for the first time in over 40 years, covering two parcels totaling 11,500 SF.
Where is this auto shop located?
The property is located at 4607-4613 37th Ave SW Seattle, WA.
What is the asking price?
The asking price for this property is $2,200,000.
What are key features of this property?
This property features: 4,500 SF auto‑repair property offered for sale for the first time in over 40 years; Two parcels total 11,500 land SF; Zoned NC3‑75 (M) for long‑term flexibility for investors, owner‑users, and developers
