White Center Redevelopment
9625 16th Avenue SW Seattle, WA 98106
For Sale
$2,500,000
17,380 SF vacant building in White Center.
Property Size17,380 SF
Lot Size0.17 Acres
Price / SF$143.84
Days on Market145
Property Features for 9625 16th Avenue SW
General Information
Standard status
Active
Size
17,380 SF
Lot size
0.17 Acres
Property subtype
Commercial
Building Details
Year Built
1925
Listing Agency:
PROVIDENCIA
(425) 998-9887
Listed By:
CHARLES HOLMES · License #20363DB
Source:
Corcoran
Added: Mar 5
Changed: Jul 6
Last Checked: Jul 27 at 7:15AM
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 PROVIDENCIA
Investment Insights
Based on property information with market context.
Located in the White Center commercial district, this 17,380 square foot building presents a redevelopment opportunity. The vacant and gutted building contains some intact electrical and plumbing. The flexible zoning allows for various uses, including low-income housing. The upper level previously housed 9 studios and 2 offices. The main floor was formerly a nightclub. The 5,000+ square foot basement could accommodate at least 50 storage spaces or a large game room. The property is located 15 minutes from downtown Seattle and 15 minutes from SeaTac airport.
Key Highlights
- Large 17,380 sq ft building offering a substantial development opportunity.
- Flexible zoning allows for a wide range of potential uses.
- Prime location in White Center Commercial district, 15 minutes from downtown Seattle and SeaTac airport.
Financial Insights For Mixed Use
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $417.1k | $24.00 |
| − Vacancy | −$50.1k | −$2.88 |
| EGI | $367.1k | $21.12 |
| − OpEx | −$137.6k | −$7.92 |
| NOI | $229.4k | $13.20 |
17,380 SF · lease $24.00/SF/yr · vacancy 12.00% · expense 37.50%
Alternative Uses
Best Use
Office B
$4.36M
$3.81M – $5.09M
NOI $305,118 @ 7.0% cap · market cap 12.20%
Second Best
Specialty Retail
$4.18M
$3.66M – $4.88M
NOI $292,818 @ 7.0% cap · market cap 11.71%
Theoretical Best
Office A
$5.23M
$4.58M – $6.10M
NOI $366,018 @ 7.0% cap · market cap 14.64%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Mixed-use property - 17,380 SF vacant building in White Center.
Where is this mixed-use property located?
The property is located at 9625 16th Avenue SW Seattle, WA.
What is the asking price?
The asking price for this property is $2,500,000.
What are key features of this property?
This property features: Large 17,380 sq ft building offering a substantial development opportunity.; Flexible zoning allows for a wide range of potential uses.; Prime location in White Center Commercial district, 15 minutes from downtown Seattle and SeaTac airport.
