Free-Standing Flex Retail
For Sale
Contact for pricing
5811 6th Ave S, Seattle, WA 98108
One-level flex building with glass storefronts, broad 6th Ave S exposure, and an approximately 11,500 SF vacancy.
Property Size25,500 SF
Price / SF$384.31
Days on Market160
Property Features for 5811 6th Ave S
General Information
Standard status
Active
Size
25,500 SF
Total Parking Spaces
35
Property subtype
Retail, Office, Industrial
Zoning
MML U/85
Investment Type
Owner/User
Building Details
Year Built
1967
Year Renovated
2020
Stories
1
Tenancy
Multi
Listing Agency:
Kidder Mathews South Seattle
Listed By:
Spencer Clapp · License #WA
(206) 248-7427
Source:
Crexi
Added: Mar 31
Changed: Aug 22
Last Checked: Sep 1 at 4:53PM
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 Kidder Mathews South Seattle
Investment Insights
Based on property information with market context.
Free-standing one-level retail or office/flex building totaling approximately 25,500 SF. Glass storefronts with awnings define the architectural centerpiece and support street-level merchandising. The single-story design accommodates retail, showroom, office, and roll-up door flex uses, with a vertical service core and on-site parking intended to support daily operations.
The property is located in Seattle’s Design District core on 6th Ave S, providing broad storefront exposure at street level. There is currently an approximately 11,500 SF vacancy, offering an owner-user opportunity to occupy space while maintaining control of building presence.
The offering also includes net rent from three tenants of approximately $30,000 per month, and the owner-user buyer may benefit from an assumable loan in place through 2030.
The property is located in Seattle’s Design District core on 6th Ave S, providing broad storefront exposure at street level. There is currently an approximately 11,500 SF vacancy, offering an owner-user opportunity to occupy space while maintaining control of building presence.
The offering also includes net rent from three tenants of approximately $30,000 per month, and the owner-user buyer may benefit from an assumable loan in place through 2030.
Key Highlights
- Single‑story retail/office/flex building built in 1967 with approximately 25,500 SF on one level
- Broad street‑level storefront exposure along 6th Ave S in Seattle’s Design District core
- Glass storefronts with awnings and a vertical service core for office/showroom and flex uses
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
$447,670
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
4.57%
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%
$8,953,400
$9.0M
Cap Rate 7%
$6,395,286
$6.4M
Cap Rate 9%
$4,974,111
$5.0M
Market Conditions
NOI Build-Up for 25,500 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
$774.2K $30.36/SF
− Vacancy
−$177.3K −$6.95/SF
EGI
$596.9K $23.41/SF
− OpEx
−$149.2K −$5.85/SF
NOI
$447.7K $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%
$8,953,400
Cap Rate 7%
$6,395,286
Cap Rate 9%
$4,974,111
Alternative Uses
Best Use
Office B
$6.40M
$5.60M – $7.46M
NOI $447,670 @ 7.0% cap · market cap 4.57%
Second Best
Retail
$5.43M
$4.75M – $6.34M
NOI $380,226 @ 7.0% cap · market cap 3.88%
Theoretical Best
Office A
$7.67M
$6.71M – $8.95M
NOI $537,023 @ 7.0% cap · market cap 5.48%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,714
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 98108, WA
25,009
Population
9,096
Households
2.7
Avg Household Size
37
Median Age
37%
College-Educated
83%
High-School Grad
7.4 sq mi
ZIP Area
3,380
Density / Sq Mi
$90,806
Median Household Income
$48,703
Median Earnings
$1,463
Median Rent
$693,500
Median Home Value
Market
Vacancy Rate% for Office in Seattle, WA
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Frequently Asked Questions
What type of property is this?
Flex space - One-level flex building with glass storefronts, broad 6th Ave S exposure, and an approximately 11,500 SF vacancy.
Where is this flex space located?
The property is located at 5811 6th Ave S Seattle, WA.
What is the asking price?
The asking price for this property is $9,800,000.
What are key features of this property?
This property features: Single‑story retail/office/flex building built in 1967 with approximately 25,500 SF on one level; Broad street‑level storefront exposure along 6th Ave S in Seattle’s Design District core; Glass storefronts with awnings and a vertical service core for office/showroom and flex uses
