Historic Loft Retail/Office
530-c-526 1st Ave S Seattle, WA 98104
For Sale
$695,000
Street-level commercial condo with expansive windows, high ceilings, and a loft layout in the Florentine Condominium.
Property Size1,280 SF
Price / SF$542.97
Days on Market79
Property Features for 530-c-526 1st Ave S
General Information
Standard status
Active
Size
1,280 SF
Listing Agency:
Westlake Associates, Inc.
(206) 505-9400
Listed By:
David W Petersen · License #109793
(206) 505-9400
Source:
Exprealty
Added: May 13
Changed: Jul 25
Last Checked: Jul 29 at 2:54PM
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 Westlake Associates, Inc.
Investment Insights
Based on property information with market context.
This street-level commercial condo is approximately 1,280 SF and is currently configured as an art gallery within the Florentine Condominium. The unit features a New York-style loft layout, expansive windows, custom lighting, and 16’ ceilings, along with a bathroom and a breakroom. Secured access is available, and the building offers parking for three cars.
Located in historic Pioneer Square between Seattle’s financial core and stadium district, the space is positioned for retail, showroom, office, or gallery use. The property is housed in a historic building renovated in 1991.
Designed for an open, loft-style presentation, the unit combines high-volume volume with natural light from large windows and dedicated interior finishes and amenities for everyday operations.
Located in historic Pioneer Square between Seattle’s financial core and stadium district, the space is positioned for retail, showroom, office, or gallery use. The property is housed in a historic building renovated in 1991.
Designed for an open, loft-style presentation, the unit combines high-volume volume with natural light from large windows and dedicated interior finishes and amenities for everyday operations.
Key Highlights
- Approximately 1,280 SF street‑level commercial condo currently used as an art gallery
- Historic Florentine Condominium renovated in 1991
- Features include 16’ ceilings, expansive windows, custom lighting, and a New York‑style loft layout
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 | $38.9k | $30.36 |
| − Vacancy | −$8.9k | −$6.95 |
| EGI | $30.0k | $23.41 |
| − OpEx | −$7.5k | −$5.85 |
| NOI | $22.5k | $17.56 |
1,280 SF · lease $30.36/SF/yr · vacancy 22.90% · expense 25.00%
Alternative Uses
Best Use
Office B
$321.0K
$280.9K – $374.5K
NOI $22,471 @ 7.0% cap · market cap 3.23%
Second Best
Retail
$272.7K
$238.6K – $318.1K
NOI $19,086 @ 7.0% cap · market cap 2.75%
Theoretical Best
Office A
$385.1K
$337.0K – $449.3K
NOI $26,956 @ 7.0% cap · market cap 3.88%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Location Intelligence
Current Use
Similar Off Market Nearby
- Carpet King Corporation — 412 5th Ave S, Seattle, WA 98104
- Gabrielle Brownlee Carpet Store — Seattle Ferry Terminal #43, Seattle, WA 98104
- LEICHT SEATTLE — 314 Occidental Ave S, Seattle, WA 98104
- Designs By Ferdod — 317 1st Ave S, Seattle, WA 98104
- Abodian — 1762 Airport Wy S unit a, Seattle, WA 98134
Frequently Asked Questions
What type of property is this?
Showroom - Street-level commercial condo with expansive windows, high ceilings, and a loft layout in the Florentine Condominium.
Where is this showroom located?
The property is located at 530-c-526 1st Ave S Seattle, WA.
What is the asking price?
The asking price for this property is $695,000.
What are key features of this property?
This property features: Approximately 1,280 SF street‑level commercial condo currently used as an art gallery; Historic Florentine Condominium renovated in 1991; Features include 16’ ceilings, expansive windows, custom lighting, and a New York‑style loft layout
