Ballard Industrial Portfolio For
For Sale
$24,500,000
4818 14th Ave NW 1148 Leary Way NW and 1141 NW 50th St, Seattle, WA 98107
Three industrial buildings in Ballard with convenient access to Seattle.
Property Size124,848 SF
Days on Market319
Property Features for 4818 14th Ave NW 1148 Leary Way NW and 1141 NW 50th St
General Information
Standard status
Active
Size
124,848 SF
Property subtype
Industrial
Building Details
Building Size
124,848 SF
Listing Agency:
NAI Puget Sound Properties
Listed By:
Tamir Ohayon · License #45683
(425) 586-5627
Source:
Naiglobal
Added: Nov 21, 2025
Changed: Sep 8
Last Checked: Oct 5 at 4:14PM
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 portfolio comprises three buildings centrally located in the Ballard neighborhood, with convenient access to downtown Ballard, Fremont, and downtown Seattle. The properties are situated off Leary Way. The total building size is 89,498 square feet, situated on a total land size of 153,000 square feet. The zoning is Industry & Innovation Zone (II).
Key Highlights
- Prime location in the heart of Ballard, offering convenient access to downtown Ballard, Fremont, and downtown Seattle.
- Substantial total land size of 153,000 SF.
- Significant total building size of 89,498 SF.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$1,372,231
Cap Rate
5.60%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$27,444,620
$27.4M
Cap Rate 7%
$19,603,300
$19.6M
Cap Rate 9%
$15,247,011
$15.2M
Market Conditions
NOI Build-Up for 124,848 SF
Gross rent
$1.75M $14.04/SF
− Vacancy
−$138.5K −$1.11/SF
EGI
$1.61M $12.93/SF
− OpEx
−$242.2K −$1.94/SF
NOI
$1.37M $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 Rate 5%
$27,444,620
Cap Rate 7%
$19,603,300
Cap Rate 9%
$15,247,011
Alternative Uses
Best Use
Warehouse
$19.60M
$17.15M – $22.87M
NOI $1,372,231 @ 7.0% cap · market cap 5.60%
Second Best
Industrial
$16.14M
$14.13M – $18.83M
NOI $1,130,073 @ 7.0% cap · market cap 4.61%
Theoretical Best
Office A
$37.56M
$32.87M – $43.82M
NOI $2,629,263 @ 7.0% cap · market cap 10.73%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,738
Businesses Nearby
Explore this area
Business Placement
Demographics for 98107, WA
28,557
Population
16,538
Households
1.7
Avg Household Size
35
Median Age
76%
College-Educated
99%
High-School Grad
2.2 sq mi
ZIP Area
12,980
Density / Sq Mi
$137,748
Median Household Income
$82,884
Median Earnings
$2,194
Median Rent
$924,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Industrial in Seattle, WA
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Frequently Asked Questions
What type of property is this?
Industrial property - Three industrial buildings in Ballard with convenient access to Seattle.
Where is this industrial property located?
The property is located at 4818 14th Ave NW 1148 Leary Way NW and 1141 NW 50th St Seattle, WA.
What is the asking price?
The asking price for this property is $24,500,000.
What are key features of this property?
This property features: Prime location in the heart of Ballard, offering convenient access to downtown Ballard, Fremont, and downtown Seattle.; Substantial total land size of 153,000 SF.; Significant total building size of 89,498 SF.
