Building Details

Construction brick & beam

Listing Agency: Newmark Show Phone

Listed By: Brody O'Keefe Show Phone

Source: Moodyscre

Added: Jul 9 Changed: Oct 12 Last Checked: Oct 14 at 10:53PM

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Investment Insights

Based on property information with market context.

This 2,114-square-foot office unit occupies two levels within a brick-and-beam building in Seattle’s Pioneer Square. The fully remodeled interior features high ceilings, marble flooring, and upgraded finishes, with a reception area, private offices, and a large conference room. A lofted apartment component includes a full kitchen and full bathroom, adding live/work capability to the professional layout.

The property is situated in Seattle’s Historic District, approximately half a block from the Waterfront. The surrounding area includes the King County Superior Court, ferry terminal, and Seahawks and Mariners stadiums within walking distance. The location carries a Walk Score of 96 and a Transit Score of 100.

Key Highlights

• 2,114 SF office unit arranged across two levels
• Fully remodeled interior with high ceilings and marble floors
• Private offices, reception area, and spacious conference room

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$37,113

Cap Rate

4.37%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$742,260 $742.3K

Cap Rate 7%

$530,186 $530.2K

Cap Rate 9%

$412,367 $412.4K

Is this asking price fair?

Market Conditions

NOI Build-Up for 2,114 SF

Gross rent

$64.2K $30.36/SF

− Vacancy

−$14.7K −$6.95/SF

EGI

$49.5K $23.41/SF

− OpEx

−$12.4K −$5.85/SF

NOI

$37.1K $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 Rate 5%

$742,260

Cap Rate 7%

$530,186

Cap Rate 9%

$412,367

Alternative Uses

Best Use

Office B

$530.2K

$463.9K – $618.6K (±1% cap)

NOI $37,113 @ 7.0% cap · market cap 4.37%

Second Best

Mixed Use

$398.6K

$348.8K – $465.1K (±1% cap)

NOI $27,905 @ 7.0% cap · market cap 3.28%

Theoretical Best

Office A

$636.0K

$556.5K – $742.0K (±1% cap)

NOI $44,520 @ 7.0% cap · market cap 5.24%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Current Use

Independent Radio Alliance Association Or Organization

Suggested Use

Top Pick (Bike/Boat/Book/etc) Store Pet Grooming Service Tanning Salon Veterinary Clinic Butcher Pet Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

10,232

Businesses Nearby

Explore this area Business Placement

Demographics for 98104, WA

16,157

Population

10,803

Households

1.5

Avg Household Size

38

Median Age

45%

College-Educated

83%

High-School Grad

0.9 sq mi

ZIP Area

17,952

Density / Sq Mi

$61,866

Median Household Income

$57,791

Median Earnings

$1,511

Median Rent

$663,000

Median Home Value

Market

Vacancy Rate% for Office in Seattle, WA

8.5% 2019

13.4% 2020

17.6% 2021

19.5% 2022

24.3% 2023

30% 2024

32.3% 2025

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Frequently Asked Questions

What type of property is this?

Office units - Fully remodeled space combines private offices with live/work functionality.

Where is this office units located?

The property is located at 75-85 S Main St Seattle, WA.

What is the asking price?

The asking price for this property is $850,000.

What are key features of this property?

This property features: 2,114 SF office unit arranged across two levels; Fully remodeled interior with high ceilings and marble floors; Private offices, reception area, and spacious conference room