Retail Storefront with High Street
For Sale
Contact for pricing
9409 Delridge Way SW, Seattle, WA 98106
Retail storefront for sale on Delridge Way with 13,000+ vehicles per day and NC2P55 (M) zoning allowing mixed-use options.
Property Size6,360 SF
Price / SF$250
Days on Market136
Property Features for 9409 Delridge Way SW
General Information
Standard status
Active
Size
6,360 SF
Property subtype
RETAIL
Zoning
NC2P55 (M)4G-LLC-Power or Otherwise (M) indicate mixed-use zoning with height and density limits. The exact code is NC2P55 (M) which is a Seattle zoning code. So we output that string. Also note: the text says
Additional Details
Business Included
No
Traffic Count
13,000 vehicles/day
Listing Agency:
Kidder Mathews
(206) 946-9425
Listed By:
Kevin Verger · License #26206
(206) 946-9425
Source:
Moodyscre
Added: Apr 7
Changed: Jul 28
Last Checked: Jul 28 at 10:09PM
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 Kidder Mathews
Investment Insights
Based on property information with market context.
This retail storefront for sale offers a flexible setup for an owner-operator and supports future redevelopment considerations. The property totals 6,360 square feet and is situated in a growing commercial corridor with strong street visibility along Delridge Way.
The site benefits from exceptional street exposure, with 13,000+ vehicles per day reported on Delridge Way. It is also positioned just minutes from the West Seattle Bridge and major arterials, with nearby transit stops for additional access.
Zoned NC2P55 (M), the property allows commercial, multi-family, or mixed-use development. The remarks also note no parking requirement, which may support broader density or height considerations for redevelopment planning.
The site benefits from exceptional street exposure, with 13,000+ vehicles per day reported on Delridge Way. It is also positioned just minutes from the West Seattle Bridge and major arterials, with nearby transit stops for additional access.
Zoned NC2P55 (M), the property allows commercial, multi-family, or mixed-use development. The remarks also note no parking requirement, which may support broader density or height considerations for redevelopment planning.
Key Highlights
- Retail storefront on Delridge Way with 13,000+ vehicles per day for strong street exposure.
- Zoned NC2P55 (M), allowing commercial, multi‑family, or mixed‑use development.
- No parking requirement under NC2P55 (M).
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
$94,833
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
5.96%
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%
$1,896,660
$1.9M
Cap Rate 7%
$1,354,757
$1.4M
Cap Rate 9%
$1,053,700
$1.1M
Market Conditions
NOI Build-Up for 6,360 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
$139.7K $21.96/SF
− Vacancy
−$4.2K −$0.66/SF
EGI
$135.5K $21.30/SF
− OpEx
−$40.6K −$6.39/SF
NOI
$94.8K $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 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%
$1,896,660
Cap Rate 7%
$1,354,757
Cap Rate 9%
$1,053,700
Alternative Uses
Best Use
Retail
$1.35M
$1.19M – $1.58M
NOI $94,833 @ 7.0% cap · market cap 5.96%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.91M
$1.67M – $2.23M
NOI $133,940 @ 7.0% cap · market cap 8.42%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
13,000 VPD
Traffic count
Location Intelligence
Trade Area within ½ mile
1,224
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 Retail in Seattle, WA
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Retail storefront for sale on Delridge Way with 13,000+ vehicles per day and NC2P55 (M) zoning allowing mixed-use options.
Where is this retail space located?
The property is located at 9409 Delridge Way SW Seattle, WA.
What is the asking price?
The asking price for this property is $1,590,000.
What are key features of this property?
This property features: Retail storefront on Delridge Way with 13,000+ vehicles per day for strong street exposure.; Zoned NC2P55 (M), allowing commercial, multi‑family, or mixed‑use development.; No parking requirement under NC2P55 (M).
