For Sale
$775,000
9208 17th Avenue SW, Seattle, WA 98106
Duplexes
Property Size2,580 SF
Price / SF$300.39
Days on Market182
Property Features for 9208 17th Avenue SW
General Information
Standard status
Active
Size
2,580 SF
Property subtype
Multi-Family
Taxes and HOA fees
Annual Taxes
$8,047
Amenities
Hardwood,Laminate,Vinyl
Yes
No
2
Electric
Alley,Curbs,Paved,Value In Land
Public
0.1899
Brick
Poured Concrete
2580
3
Building Details
Building Size
2,580 SF
Year Built
1947
Stories
2
Listing Agency:
Liberty Real Estate, LLC
(503) 516-7241
Listed By:
Gabrielle Maher
(503) 516-7241
Source:
Premierepropertygroup
Added: Mar 1
Changed: Aug 29
Last Checked: Aug 30 at 1:17PM
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 Liberty Real Estate, LLC
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
$46,568
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
6.01%
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%
$931,360
$931.4K
Cap Rate 7%
$665,257
$665.3K
Cap Rate 9%
$517,422
$517.4K
Market Conditions
NOI Build-Up for 2,580 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
$69.7K $27.00/SF
− Vacancy
−$3.1K −$1.22/SF
EGI
$66.5K $25.79/SF
− OpEx
−$20.0K −$7.74/SF
NOI
$46.6K $18.05/SF
Area
Seattle, WA
Vacancy
4.50%
Lease Rate
$27.00 /SF/Yr
Expense Ratio
30.00%
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%
$931,360
Cap Rate 7%
$665,257
Cap Rate 9%
$517,422
Alternative Uses
Best Use
Multifamily LT 5
$665.3K
$582.1K – $776.1K
NOI $46,568 @ 7.0% cap · market cap 6.01%
Second Best
Apartment 5plus
$622.1K
$544.3K – $725.8K
NOI $43,545 @ 7.0% cap · market cap 5.62%
Theoretical Best
Office A
$776.2K
$679.2K – $905.6K
NOI $54,334 @ 7.0% cap · market cap 7.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,181
Businesses Nearby
Explore this area
Business Placement
Demographics for 98106, WA
26,295
Population
12,107
Households
2.2
Avg Household Size
37
Median Age
45%
College-Educated
91%
High-School Grad
5.5 sq mi
ZIP Area
4,781
Density / Sq Mi
$115,529
Median Household Income
$60,223
Median Earnings
$1,824
Median Rent
$666,800
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
Where is this duplex located?
The property is located at 9208 17th Avenue SW Seattle, WA.
What is the asking price?
The asking price for this property is $775,000.
