512 1st Ave S, Seattle, WA 98104
Classic brick condo in vibrant Pioneer Square neighborhood.
- Added:
- Apr 10, 2025
- Days on Market:
- 445
- Last Refresh:
- May 10 at 9:28 pm
Property Features for 512 1st Ave S
General Information
- Standard status
- Active
- Size
- 2,925 SF
- Property subtype
- Commercial
Building Details
- Year Built
- 1909
Listing office WEST COAST COMMERCIAL REALTY, LLC
Listing date Apr 10, 2025
Source Corcoran
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 WEST COAST COMMERCIAL REALTY, LLC
HighLights
- Prime Pioneer Square location: heart of the neighborhood, surrounded by amenities.
- Unique classic brick commercial condominium.
- Soaring ceilings and large window frontage.
- 3 secure parking stalls included.
- Steps from stadiums, parks, light rail, ferry terminal, and new Seattle waterfront.
- Located in The Florentine, a historic building converted to condominiums in 1991.
Overview
Local Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $88.8k | $30.36 |
| − Vacancy | −$20.3k | −$6.95 |
| EGI | $68.5k | $23.41 |
| − OpEx | −$17.1k | −$5.85 |
| NOI | $51.4k | $17.56 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- Seattle
- County
- King
- State
- Washington
- Longitude
- -122.355
- Latitude
- 47.6237
