Manufacturing Building with Two
5416 Shilshole Ave NW Seattle, WA 98107
For Sale
Contact for pricing
6,604 sf manufacturing building in Seattle with two stabilized tenants and lease terms extending through 2029.
Property Size6,604 SF
Price / SF$286.95
Days on Market116
Property Features for 5416 Shilshole Ave NW
General Information
Standard status
Active
Size
6,604 SF
Property subtype
Industrial
Listing Agency:
Listed By:
Ben Davidson · License #23026809
Source:
Crexi
Added: Apr 6
Changed: Jul 23
Last Checked: Jul 29 at 3:29PM
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 Ben Davidson
Investment Insights
Based on property information with market context.
Neil Walter Company is pleased to present 5416 Shilshole Ave NW in Seattle, Washington. The property is a 6,604 square foot manufacturing building that is fully stabilized with two tenants.
The current leases extend through 2029, when both leases are scheduled to turn over. The businesses occupying the space are described in the offering remarks as well invested into the building and intended for long-term occupancy.
The location is positioned close to the Ballard Farmers Market and the area’s primary walking retail district, supporting an established demand pattern for nearby commercial space.
The current leases extend through 2029, when both leases are scheduled to turn over. The businesses occupying the space are described in the offering remarks as well invested into the building and intended for long-term occupancy.
The location is positioned close to the Ballard Farmers Market and the area’s primary walking retail district, supporting an established demand pattern for nearby commercial space.
Key Highlights
- 6,604 SF manufacturing building in Seattle, WA
- Fully stabilized with 2 tenants
- Lease terms extend through 2029, when both leases turn over
Financial Insights For Industrial
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 | $92.7k | $14.04 |
| − Vacancy | −$7.3k | −$1.11 |
| EGI | $85.4k | $12.93 |
| − OpEx | −$25.6k | −$3.88 |
| NOI | $59.8k | $9.05 |
6,604 SF · lease $14.04/SF/yr · vacancy 7.90% · expense 30.00%
Alternative Uses
Best Use
Industrial
$854.0K
$747.2K – $996.3K
NOI $59,777 @ 7.0% cap · market cap 3.15%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.99M
$1.74M – $2.32M
NOI $139,078 @ 7.0% cap · market cap 7.34%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Manufacturing property - 6,604 sf manufacturing building in Seattle with two stabilized tenants and lease terms extending through 2029.
Where is this manufacturing property located?
The property is located at 5416 Shilshole Ave NW Seattle, WA.
What is the asking price?
The asking price for this property is $1,895,000.
What are key features of this property?
This property features: 6,604 SF manufacturing building in Seattle, WA; Fully stabilized with 2 tenants; Lease terms extend through 2029, when both leases turn over
