West Seattle Investment
6323 35th Ave SW Seattle, WA 98126
6323 35th Ave SW, Seattle, WA, 98126
$3,100,000
For Sale
$3,100,000
Well-maintained 9,112 SF building with long-term tenants.
Property Size9,112 SF
Lot Size0.69 Acres
Price / SF$340.21
Days on Market188
Property Features for 6323 35th Ave SW
General Information
- Standard status
- Active
- Size
- 9,112 SF
- Lot size
- 0.69 Acres
- Property subtype
- Commercial
Building Details
- Year Built
- 1987
Listing agency
EWING & CLARK COMM'L BROKERAGE
(206) 612-7877
Listed by
PETER ARGERES
Source
Corcoran
Added: Jan 14 Updated: Jul 10 at 3:47PM Checked: Jul 21 at 5:57AM
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 EWING & CLARK COMM'L BROKERAGE
Investment Insights
Based on property information with market context.
This well-maintained 9,112 square foot building in West Seattle presents a solid investment or development opportunity. The property, situated on a 29,945 square foot lot, is zoned NC2P-55 (M) and features new exterior paint from 2021 and a new roof installed in 2022. The building also benefits from the installation of four new HVAC units within the last four years. Currently, the site accommodates three long-term tenants, two of whom operate under NNN leases, while the third has a modified gross lease. All three leases are set to expire in July 2028, with no options for renewal. The property includes over 60 parking spaces and two curb cuts on each end of the building. It is located next to U Haul on 35th Ave SW and SW Morgan St.
Key Highlights
- Solid investment property with three long‑term tenants.
- NNN and modified gross leases in place, expiring July 2028 with no options.
- Large 29,945 SF lot zoned NC2P‑55 (M) offering potential development opportunities.
Local Financial Insights For Retail
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 | $200.1k | $21.96 |
| − Vacancy | −$6.0k | −$0.66 |
| EGI | $194.1k | $21.30 |
| − OpEx | −$58.2k | −$6.39 |
| NOI | $135.9k | $14.91 |
9,112 SF · lease $21.96/SF/yr · vacancy 3.00% · expense 30.00%
Alternative Uses
Best Use
Retail
$1.94M
$1.70M – $2.26M
NOI $135,868 @ 7.0% cap · market cap 4.38%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.74M
$2.40M – $3.20M
NOI $191,896 @ 7.0% cap · market cap 6.19%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
HIIT Lab
Gym & Fitness Center
Similar For Sale Nearby
FAQs
What type of property is this?
Shopping center - Well-maintained 9,112 SF building with long-term tenants.
Where is this shopping center located?
The property is located at 6323 35th Ave SW Seattle, WA.
What is the asking price?
The asking price for this property is $3,100,000.
What are key features of this property?
This property features: Solid investment property with three long‑term tenants.; NNN and modified gross leases in place, expiring July 2028 with no options.; Large 29,945 SF lot zoned NC2P‑55 (M) offering potential development opportunities.
