Remodeled Two-Level Office
For Sale
Contact for pricing
75-85 S Main St, Seattle, WA 98104
Fully remodeled space combines private offices with live/work functionality.
Property Size2,114 SF
Price / SF$473.04
Days on Market54
Property Features for 75-85 S Main St
General Information
Standard status
Active
Size
2,114 SF
Property subtype
OFFICE
Additional Details
Public Transit
Yes
Building Details
Construction
brick & beam
Listing Agency:
Newmark
(206) 453-1463
Listed By:
Brody O'Keefe
(206) 453-1463
Source:
Moodyscre
Added: Jul 9
Changed: Aug 29
Last Checked: Aug 29 at 9:10PM
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 Newmark
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.
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 = 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
$37,113
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
3.71%
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%
$742,260
$742.3K
Cap Rate 7%
$530,186
$530.2K
Cap Rate 9%
$412,367
$412.4K
Market Conditions
NOI Build-Up for 2,114 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
$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 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%
$742,260
Cap Rate 7%
$530,186
Cap Rate 9%
$412,367
Alternative Uses
Best Use
Office B
$530.2K
$463.9K – $618.6K
NOI $37,113 @ 7.0% cap · market cap 3.71%
Second Best
Mixed Use
$398.6K
$348.8K – $465.1K
NOI $27,905 @ 7.0% cap · market cap 2.79%
Theoretical Best
Office A
$636.0K
$556.5K – $742.0K
NOI $44,520 @ 7.0% cap · market cap 4.45%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
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
Questions? Ask Rey
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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 $1,000,000.
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
