Your AI Navigator in Commercial Real Estate
Sign Up Successful!
You now have access to more from Realmo!
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search

    701 1St Ave N, Unit 205 Seattle, WA 98109

    Loading data...
    Loading data...
    Loading data...
    For Lease
    $2,695 /Mo ($35 SF/Yr)

    Apartment in vibrant Lower Queen Anne near shops and restaurants.

    Property size:
    903 SF
    Lot size:
    903 SF

    Property Features for 701 1St Ave N

    General Information

    Size
    903 SF

    Building Details

    Year built
    2000

    We can help!

    Listing Contact
    David Drake
    Source: Kw

    Listing Agent: David Drake

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Lower Queen Anne Apartment Available

    Located in the vibrant Lower Queen Anne neighborhood, this apartment is near shopping, coffee shops, restaurants, and nightlife. The 903 square foot unit features hardwood floors, designer paint, and a three-sided gas fireplace. The kitchen includes an eating bar, slab granite counters, stainless steel appliances, and tile floors. The dining room has French doors that open to a Juliette balcony. Residents can enjoy views of the Space Needle and utilize the building's courtyard for barbecues. One parking space and one storage unit are included. Water, sewer, and garbage services are included. Pets are allowed with a $500 pet deposit. The apartment will be available starting September 2nd.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Suggested Use

    Law Firm Restaurant Realty agency Spa & Massage Dental Office Hair Salon Clothing Store Nail Salon Food Market Grocery Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Seattle
    County
    King
    State
    Washington
    Longitude
    -122.3556302
    Latitude
    47.6256298

    Nearby Similar for Lease

    • $38 SF/Yr
      1,391 SF

      Prime Retail/Office Space Available

      New mixed-use development in vibrant Seattle neighborhood.
      412 NW 65Th St, Seattle, WA 98117
      View Details
    • $25 SF/Yr
      928 SF

      Prime Wallingford Retail Space

      Inviting retail space in Seattle's vibrant Wallingford neighborhood.
      254 NE 45Th St, Seattle, WA 98105
      View Details
    • $30 SF/Yr
      4,463 SF

      Prime Retail Space in Seattle

      4,463 SF retail space in a mixed-use development.
      1505 SW 107Th St, Seattle, WA 98133
      View Details
    • $24 SF/Yr
      1,300 SF

      West Seattle Cafe/Restaurant Space

      Versatile cafe/restaurant space in West Seattle/White Center.
      1416 SW Roxbury St, Seattle, WA 98106
      View Details
    • Contact for pricing
      2,239 SF

      Freestanding Drive-Thru Restaurant Opportunity

      2,239 SF drive-thru ready for coffee or QSR concepts.
      10256 16Th Ave SW, Seattle, WA 98146
      View Details
    • Contact for pricing
      1,250 SF

      Professionally Configured Uptown Office Space

      Ground-floor office space in walkable Uptown neighborhood near Seattle Center.
      200 Roy St, Seattle, WA 98109
      View Details
    • Contact for pricing
      5,000 SF

      Turnkey Restaurant Space in Astra Hotel

      5,000 SF restaurant space for lease in Astra Hotel.
      1000 Thomas St, Seattle, WA 98109
      View Details
    • Contact for pricing
      95,000 SF

      Prime Seattle Commercial Office Space

      30-story office building with modern amenities and convenient transit access.
      1501 4Th Ave, Seattle, WA 98101
      View Details
    • $38 SF/Yr
      9,032 SF

      Retail Space in Grand Street Commons

      Mixed-use retail space available in Seattle's Grand Street Commons.
      1750 22Nd Ave S, Seattle, WA 98112
      View Details
    • $39 SF/Yr
      2,901 SF

      Prime Retail Space in Seattle

      Ground-floor commercial space in a vibrant, growing Seattle neighborhood.
      917 NE 63Rd St, Seattle, WA 98115
      View Details
    • $25 SF/Yr
      2,110 SF

      Belltown Retail/Office Space Available

      Retail or office space in a high-traffic Belltown location.
      2100-2106 3Rd Ave, Seattle, WA 98121
      View Details
    • $5,000 /Mo
      6,941 SF

      Historic Seattle Office Space

      Creative office space in a historic building with ideal location.
      720 Seneca St, Seattle, WA 98101
      View Details

    FAQs

    What type of property is this?
    Apartment building - Apartment in vibrant Lower Queen Anne near shops and restaurants.
    Where is this apartment building located?
    The property is located at 701 1St Ave N, Unit 205 Seattle, WA.
    What is the lease rate?
    The lease rate is $35 SF/Yr.
    What are key features of this property?
    This property features: - Prime location in the heart of vibrant lower Queen Anne, close to shopping, coffee, restaurants, and nightlife.; - Enjoy VIEWS OF THE SPACE NEEDLE.; - UPGRADED KITCHEN with slab granite counters and stainless steel appliances.
    Request Owner's contact information
    701 1St Ave N, Unit 205 Seattle, WA 98109
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    701 1St Ave N, Unit 205
    Seattle, WA 98109
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    701 1St Ave N, Unit 205 Seattle, WA 98109
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    David Drake
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.