Mixed-Use Property with Existing
For Sale
$1,950,000
7301 Aurora Avenue N, Seattle, WA 98103
Mixed-use property featuring a pub and multifamily residence.
Property Size4,610 SF
Lot Size0.11 Acres
Days on Market373
Property Features for 7301 Aurora Avenue N
General Information
Standard status
Active
Size
4,610 SF
Lot size
0.11 Acres
Property subtype
Mixed-Use
Building Details
Building Size
4,610 SF
Listing Agency:
Lee & Associates Commercial Real Estate Services
Listed By:
Chris Aberg
(206) 310-3831
Source:
Lee-associates
Added: Sep 1, 2025
Changed: Sep 7
Last Checked: Sep 7 at 6:54AM
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 Lee & Associates Commercial Real Estate Services
Investment Insights
Based on property information with market context.
The property includes 4,930 square feet of land improved with a two-story, three-unit multifamily residence on the western portion and the Olde '99 Pub, which occupies the retail frontage along Aurora Avenue North and wraps around the corner on North 73rd to the west. Both buildings are currently occupied.
Key Highlights
- Multifamily residence and pub on the same property
- Retail frontage on Aurora Avenue North
- Two‑story, 3‑unit multifamily residence
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
$113,268
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
5.81%
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%
$2,265,360
$2.3M
Cap Rate 7%
$1,618,114
$1.6M
Cap Rate 9%
$1,258,533
$1.3M
Market Conditions
NOI Build-Up for 4,610 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
$154.9K $33.60/SF
− Vacancy
−$3.9K −$0.84/SF
EGI
$151.0K $32.76/SF
− OpEx
−$37.8K −$8.19/SF
NOI
$113.3K $24.57/SF
Area
ZIP 98103
Vacancy
2.50%
Lease Rate
$33.60 /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%
$2,265,360
Cap Rate 7%
$1,618,114
Cap Rate 9%
$1,258,533
Alternative Uses
Best Use
Specialty Retail
$1.62M
$1.42M – $1.89M
NOI $113,268 @ 7.0% cap · market cap 5.81%
Second Best
Mixed Use
$1.10M
$964.6K – $1.29M
NOI $77,171 @ 7.0% cap · market cap 3.96%
Theoretical Best
Office A
$1.86M
$1.63M – $2.17M
NOI $130,445 @ 7.0% cap · market cap 6.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,222
Businesses Nearby
Explore this area
Business Placement
Demographics for 98103, WA
53,056
Population
27,857
Households
1.9
Avg Household Size
35
Median Age
77%
College-Educated
98%
High-School Grad
4.6 sq mi
ZIP Area
11,534
Density / Sq Mi
$127,372
Median Household Income
$80,508
Median Earnings
$2,006
Median Rent
$1,012,900
Median Home Value
Market
Vacancy Rate% for Retail in Seattle, WA
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Mixed-use property featuring a pub and multifamily residence.
Where is this mixed-use property located?
The property is located at 7301 Aurora Avenue N Seattle, WA.
What is the asking price?
The asking price for this property is $1,950,000.
What are key features of this property?
This property features: Multifamily residence and pub on the same property; Retail frontage on Aurora Avenue North; Two‑story, 3‑unit multifamily residence
