Seven-Suite Craftsman Office
For Sale
$1,299,000
5430 California Unit 1CU, Seattle, WA 98136
Renovated professional workspace with shared amenities, basement storage, secured parking, and ADA-compliant access.
Property Size2,269 SF
Price / SF$572.50
Days on Market12
Property Features for 5430 California Unit 1CU
General Information
Standard status
Active
Size
2,269 SF
Total Parking Spaces
3
Property subtype
Commercial
Additional Details
Sprinkler System
Yes
Office Units
7
Amenities
waiting room
break area
kitchen
bathrooms
climate-controlled basement storage
ductless heating and AC system
ADA compliance
Building Details
Year Built
2000
Buildings
1
Building Size
2,269 SF
Construction
Craftsman
Tenancy
Multi
Listing Agency:
John L. Scott Vashon
Listed By:
James Marsh
(206) 363-8509
Source:
Century21northhomes
Added: Sep 5
Changed: Sep 15
Last Checked: Sep 15 at 2:34PM
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 John L. Scott Vashon
Investment Insights
Based on property information with market context.
This renovated Craftsman-style office building provides 2,269 square feet arranged across seven individual office suites. Shared areas include a living-room-style reception and waiting area, kitchen, break area, and two bathrooms, giving the property a practical setup for multiple professional occupants. The building also includes nearly 1,000 square feet of climate-controlled basement storage, along with two storage units.
Three covered and secured parking stalls serve the property. Building systems include a new ductless heating and air-conditioning system, full fire sprinklers, and ADA-compliant features. Located on California Avenue in West Seattle, the property is subject to an HOA that covers water, sewer, garbage, recycling, common-area maintenance, exterior irrigation, earthquake and fire insurance, and reserves.
Three covered and secured parking stalls serve the property. Building systems include a new ductless heating and air-conditioning system, full fire sprinklers, and ADA-compliant features. Located on California Avenue in West Seattle, the property is subject to an HOA that covers water, sewer, garbage, recycling, common-area maintenance, exterior irrigation, earthquake and fire insurance, and reserves.
Key Highlights
- 2,269 SF Craftsman‑style office building with seven individual office suites
- Nearly 1,000 SF of climate‑controlled basement storage
- Three covered and secured parking stalls
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
$39,834
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
3.07%
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%
$796,680
$796.7K
Cap Rate 7%
$569,057
$569.1K
Cap Rate 9%
$442,600
$442.6K
Market Conditions
NOI Build-Up for 2,269 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
$68.9K $30.36/SF
− Vacancy
−$15.8K −$6.95/SF
EGI
$53.1K $23.41/SF
− OpEx
−$13.3K −$5.85/SF
NOI
$39.8K $17.56/SF
Area
Seattle, WA
Vacancy
22.90%
Lease Rate
$30.36 /SF/Yr
Expense Ratio
25.00%
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%
$796,680
Cap Rate 7%
$569,057
Cap Rate 9%
$442,600
Alternative Uses
Best Use
Office B
$569.1K
$497.9K – $663.9K
NOI $39,834 @ 7.0% cap · market cap 3.07%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$682.6K
$597.3K – $796.4K
NOI $47,784 @ 7.0% cap · market cap 3.68%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
7
Office units
Multi-tenant
Tenancy
Yes
Sprinkler system
Location Intelligence
Trade Area within ½ mile
1,388
Businesses Nearby
Explore this area
Business Placement
Demographics for 98136, WA
16,424
Population
8,295
Households
2
Avg Household Size
43
Median Age
67%
College-Educated
97%
High-School Grad
2.3 sq mi
ZIP Area
7,141
Density / Sq Mi
$153,636
Median Household Income
$85,279
Median Earnings
$1,917
Median Rent
$900,000
Median Home Value
Market
Vacancy Rate% for Office in Seattle, WA
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office building - Renovated professional workspace with shared amenities, basement storage, secured parking, and ADA-compliant access.
Where is this office building located?
The property is located at 5430 California Unit 1CU Seattle, WA.
What is the asking price?
The asking price for this property is $1,299,000.
What are key features of this property?
This property features: 2,269 SF Craftsman‑style office building with seven individual office suites; Nearly 1,000 SF of climate‑controlled basement storage; Three covered and secured parking stalls
