Standalone Warehouse and
For Sale
Contact for pricing
6349 6th Ave. S, Seattle, WA 98108
Vacant warehouse and office building with dock-high loading, 12-foot clear height, fenced outdoor storage, and heavy power.
Property Size3,847 SF
Price / SF$409.41
Days on Market303
Property Features for 6349 6th Ave. S
General Information
Standard status
Active
Size
3,847 SF
Property subtype
INDUSTRIAL
Site & Location
Fenced Yard
Yes
Outdoor Storage
Yes
Warehouse & Industrial
Clear Height
12 ft
Dock-High Doors
2
Heavy Power
Yes
Listing Agency:
NAI Puget Sound Properties
(425) 586-5600
Listed By:
Nick Bierly · License #131133
(425) 586-5631
Source:
Moodyscre
Added: Nov 17, 2025
Changed: Sep 8
Last Checked: Sep 15 at 8:45AM
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 NAI Puget Sound Properties
Investment Insights
Based on property information with market context.
Standalone warehouse and office building delivered vacant, offering an owner-user opportunity in a close-in Seattle setting. The total leasable area is 3,847 SF, including 2,496 SF of warehouse space and 1,392 SF of office/reception. The property also includes 1,065 SF of fenced outdoor storage, two dock-high loading doors, 12 ft clear height, and heavy 3-phase power, supported by ample parking.
Located in the Georgetown industrial market at 6349 6th Ave. S, the site is positioned for an industrial operation that needs both functional warehouse space and dedicated office/reception area within the same building.
Located in the Georgetown industrial market at 6349 6th Ave. S, the site is positioned for an industrial operation that needs both functional warehouse space and dedicated office/reception area within the same building.
Key Highlights
- Vacant standalone warehouse and office building in Seattle’s Georgetown industrial market
- 3,847 SF total leasable area: 2,496 SF warehouse plus 1,392 SF office/reception
- 1,065 SF fenced outdoor storage area
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
$67,537
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
4.29%
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%
$1,350,740
$1.4M
Cap Rate 7%
$964,814
$964.8K
Cap Rate 9%
$750,411
$750.4K
Market Conditions
NOI Build-Up for 3,847 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
$116.8K $30.36/SF
− Vacancy
−$26.7K −$6.95/SF
EGI
$90.0K $23.41/SF
− OpEx
−$22.5K −$5.85/SF
NOI
$67.5K $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%
$1,350,740
Cap Rate 7%
$964,814
Cap Rate 9%
$750,411
Alternative Uses
Best Use
Office B
$964.8K
$844.2K – $1.13M
NOI $67,537 @ 7.0% cap · market cap 4.29%
Second Best
Warehouse
$604.0K
$528.5K – $704.7K
NOI $42,283 @ 7.0% cap · market cap 2.68%
Theoretical Best
Office A
$1.16M
$1.01M – $1.35M
NOI $81,017 @ 7.0% cap · market cap 5.14%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
12 ft
Clear height
2
Dock-high doors
Yes
Heavy power
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
1,421
Businesses Nearby
Well-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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in Seattle, WA
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Vacant warehouse and office building with dock-high loading, 12-foot clear height, fenced outdoor storage, and heavy power.
Where is this flex space located?
The property is located at 6349 6th Ave. S Seattle, WA.
What is the asking price?
The asking price for this property is $1,575,000.
What are key features of this property?
This property features: Vacant standalone warehouse and office building in Seattle’s Georgetown industrial market; 3,847 SF total leasable area: 2,496 SF warehouse plus 1,392 SF office/reception; 1,065 SF fenced outdoor storage area
