Vacant Retail Building with IG2
For Sale
$1,804,915
85 South Lander Street, Seattle, WA 98134
Vacant retail building totaling 8,880 square feet, zoned IG2/85 with an 85-foot height limit.
Property Size8,880 SF
Price / SF$203.26
Days on Market182
Property Features for 85 South Lander Street
General Information
Standard status
Active
Size
8,880 SF
Property subtype
Industrial
Zoning
IG2/85
Listing Agency:
CBRE
Listed By:
Steve Brunette
(206) 292-6007
Source:
Cbre
Added: Apr 11
Changed: Sep 26
Last Checked: Oct 7 at 9:42AM
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 CBRE
Investment Insights
Based on property information with market context.
CBRE is pleased to offer for sale 85 S Lander, a vacant retail building on an 8,880-square-foot industrial site in Seattle’s SoDo area. The property is zoned IG2/85 (General Industrial 2) and supports industrial activity within an 85-foot height limit. The building was formerly utilized as a retail store and restaurant.
The offering is structured on a fee-simple basis with cash at close. Qualified buyers and users interested in the site are encouraged to discuss acquisition approaches that fit within the parameters described, and the owner reserves the right to review and consider offers or refuse any or all offers in its sole discretion.
The offering is structured on a fee-simple basis with cash at close. Qualified buyers and users interested in the site are encouraged to discuss acquisition approaches that fit within the parameters described, and the owner reserves the right to review and consider offers or refuse any or all offers in its sole discretion.
Key Highlights
- Vacant retail building totaling 8,880 SF in Seattle’s SoDo neighborhood
- Parcel zoned IG2/85 (General Industrial 2) allowing a variety of industrial uses
- Zoning includes an 85‑foot height limit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$132,408
Cap Rate
7.34%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,648,160
$2.6M
Cap Rate 7%
$1,891,543
$1.9M
Cap Rate 9%
$1,471,200
$1.5M
Market Conditions
NOI Build-Up for 8,880 SF
Gross rent
$195.0K $21.96/SF
− Vacancy
−$5.9K −$0.66/SF
EGI
$189.2K $21.30/SF
− OpEx
−$56.7K −$6.39/SF
NOI
$132.4K $14.91/SF
Area
Seattle, WA
Vacancy
3.00%
Lease Rate
$21.96 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,648,160
Cap Rate 7%
$1,891,543
Cap Rate 9%
$1,471,200
Alternative Uses
Best Use
Retail
$1.89M
$1.66M – $2.21M
NOI $132,408 @ 7.0% cap · market cap 7.34%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.67M
$2.34M – $3.12M
NOI $187,010 @ 7.0% cap · market cap 10.36%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,390
Businesses Nearby
11k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 100%
Burger King
Dining
10,626 visits/mo
0.5 miles
Demographics for 98134, WA
1,216
Population
241
Households
5
Avg Household Size
38
Median Age
26%
College-Educated
89%
High-School Grad
3.3 sq mi
ZIP Area
368
Density / Sq Mi
$66,119
Median Household Income
$35,472
Median Earnings
$1,551
Median Rent
$385,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Seattle, WA
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Storefront property - Vacant retail building totaling 8,880 square feet, zoned IG2/85 with an 85-foot height limit.
Where is this storefront property located?
The property is located at 85 South Lander Street Seattle, WA.
What is the asking price?
The asking price for this property is $1,804,915.
What are key features of this property?
This property features: Vacant retail building totaling 8,880 SF in Seattle’s SoDo neighborhood; Parcel zoned IG2/85 (General Industrial 2) allowing a variety of industrial uses; Zoning includes an 85‑foot height limit
