Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    938 N 127th St Seattle, WA 98133

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Industrial and office building near Aurora Avenue and I-5.

    Type:Office, Industrial
    Added:
    Feb 21, 2022
    Days on Market:
    1519
    Last Refresh:
    Mar 17 at 1:17 pm

    Property Features for 938 N 127th St

    General Information

    Standard status
    Active
    Property subtype
    Office, Industrial

    Building Details

    Year Built
    1982

    Spaces For Lease

    at 938 N 127th St Contact us

    Suite 930 $1.55 /Mo

    Size
    9,305 SF
    Type
    Office, Industrial
    Warehouse with small office, mezzanine, oversize grade-level roll up door, and 16'...
    show more
    Contact us

    Suite 938 $1.55 /Mo

    Size
    6,604 SF
    Type
    Office, Industrial
    Warehouse with small office, oversize grade-level roll up door, and 16’ clear height....
    show more
    Contact us

    We can help!

    Listing Contact
    Brian Stewart

    Listing agent Brian Stewart License #WA 27173

    Listing office Rosen Harbottle Commercial Real Estate

    Listing date Feb 21, 2022

    Source Crexi

    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 Rosen Harbottle Commercial Real Estate

    Overview

    Industrial and Office Building ForRent

    This industrial and office building is situated in close proximity to both Aurora Avenue and I-5, offering convenient access. The location also provides access to nearby retail and restaurant amenities. Please note that NNN (Triple Net) fees do not include janitorial services, water/sewer, or trash disposal.
    Location Intelligence

    Current Use by Public Records

    Flex space

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Grocery & Convenience Store Gym & Fitness Center

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

    Similar Places Nearby

    • Jackiesue’s Catering & Event Planning Services — 14009 Greenwood Ave N, Seattle, WA 98133
    • Kottu — 1310 N 131st St, Seattle, WA 98133
    • Pacific Northwest Catering — 747 N 135th St, Seattle, WA 98133

    Location Insight

    • Map
    • Local Demand
    City
    Seattle
    County
    King
    State
    Washington
    Longitude
    -122.3466693
    Latitude
    47.7216559

    Nearby Similar for Lease

    • $18/mo

      Flex Building on Busy Thoroughfare

      8,000 RSF flex building in desirable Seattle location.
      1414 Elliott Ave West, Seattle, WA 98108
      View Details
    • $18/mo

      Magnolia Village Retail and Office

      Retail and loft-style office spaces in desirable Magnolia Village.
      3410 West McGraw Street, Seattle, WA 98199
      View Details
    • Contact for pricing

      Ballard Retail/Restaurant/Bar Space Available

      Landmark Ballard location suitable for restaurant, retail, or bar.
      8000 15th Ave NW, Seattle, WA 98117
      View Details
    • $1.10/mo

      Office/Warehouse Sublease in Queen Anne

      Office and warehouse space available for sublease in Seattle.
      921 Elliott Ave W, Seattle, WA 98119
      View Details
    • Contact for pricing

      University Heights Office Space Available

      Office space in Seattle's University Heights, available December 2026.
      5339 Roosevelt Way NE, Seattle, WA 98105
      View Details
    • Contact for pricing

      South Lake Union Retail Space

      Corner retail space in the heart of South Lake Union.
      300 8th Ave N, Seattle, WA 98109
      View Details
    • Contact for pricing

      WA, Seattle- 1601 5th Avenue

      1601 5Th Ave, Seattle, WA 98101
      View Details
    • Contact for pricing

      Belltown Retail or Office Space

      Highly visible space with garage in the heart of Belltown.
      2100 3rd Ave, Seattle, WA 98121
      View Details
    • $40/mo

      Medical Office Space Available Now

      7,755 SF medical office space for sublease in Seattle.
      1229 Madison Street, Seattle, WA, 98104
      View Details
    • Contact for pricing

      WA, Seattle - 5th Ave NE

      10202 5Th Ave, Unit 2ND, Seattle, WA 98125
      View Details
    • Contact for pricing

      WA, Seattle - Gem Plaza

      221 1St Ave, Unit 2ND, Seattle, WA 98119
      View Details
    • Contact for pricing

      Retail Space in Expo Building

      Retail space available in vibrant Seattle urban neighborhood.
      118 Republican St, Seattle, WA 98109
      View Details

    FAQs

    What type of property is this?
    Flex space - Industrial and office building near Aurora Avenue and I-5.
    Where is this flex space located?
    The property is located at 938 N 127th St Seattle, WA.
    What are key features of this property?
    This property features: Located near retail and restaurant amenities; Close proximity to Aurora Avenue and I‑5; Industrial and office building
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Brian Stewart
    Real Estate License ID: WA 27173
    Learn More
    Request Owner's contact information
    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.
    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
    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

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!