Commercial Office Condo
For Sale
$345,000
B-3408 Ne 65th St, Seattle, WA 98117
Two office condo units with separate entrances and private restrooms, each with dedicated HVAC, utilities, and meters.
Property Size1,758 SF
Price / SF$196.25
Days on Market294
Property Features for B-3408 Ne 65th St
General Information
Standard status
Active
Size
1,758 SF
Additional Details
Road Access
Yes
Office Units
2
Taxes and HOA fees
Annual Taxes
$4,401
Listing Agency:
Windermere Real Estate Midtown
(206) 448-6400
Listed By:
Lauren Hendricks
(206) 682-1044
Source:
Exprealty
Added: Nov 20, 2025
Changed: Aug 20
Last Checked: Sep 9 at 8:57PM
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 Windermere Real Estate Midtown
Investment Insights
Based on property information with market context.
Two commercial condo office units are available for sale separately or together at the boutique Bryant View Condominiums. Units A and B are currently configured as a single unit, but each unit has its own individual entrance, private restroom, HVAC system, water heater, and electric meter. Each unit is 879 square feet, with the combined total at 1,758 square feet.
The property offers 70 feet of frontage on NE 65th St, supporting strong visibility and signage opportunities.
Condo dues are reported as $257 per month and include building insurance, water, and sewer. The space is suitable for a range of professional office uses, including medical/dental, chiropractic, and other professional services.
The property offers 70 feet of frontage on NE 65th St, supporting strong visibility and signage opportunities.
Condo dues are reported as $257 per month and include building insurance, water, and sewer. The space is suitable for a range of professional office uses, including medical/dental, chiropractic, and other professional services.
Key Highlights
- Two commercial condo office units (Units A & B) at Bryant View Condominiums, available for sale separately or together
- Each unit has its own individual entrance, private restroom, dedicated HVAC, water heater, and electric meter
- Each unit is 879 SF; combined size is 1,758 SF
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
$30,863
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
8.95%
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%
$617,260
$617.3K
Cap Rate 7%
$440,900
$440.9K
Cap Rate 9%
$342,922
$342.9K
Market Conditions
NOI Build-Up for 1,758 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
$53.4K $30.36/SF
− Vacancy
−$12.2K −$6.95/SF
EGI
$41.2K $23.41/SF
− OpEx
−$10.3K −$5.85/SF
NOI
$30.9K $17.56/SF
Area
Seattle, WA
Vacancy
22.90%
Lease Rate
$30.36 /SF/Yr
Expense Ratio
25.00%
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%
$617,260
Cap Rate 7%
$440,900
Cap Rate 9%
$342,922
Alternative Uses
Best Use
Office B
$440.9K
$385.8K – $514.4K
NOI $30,863 @ 7.0% cap · market cap 8.95%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$528.9K
$462.8K – $617.1K
NOI $37,023 @ 7.0% cap · market cap 10.73%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Office units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,000
Businesses Nearby
Explore this area
Business Placement
Demographics for 98117, WA
35,608
Population
15,230
Households
2.3
Avg Household Size
39
Median Age
75%
College-Educated
98%
High-School Grad
3.9 sq mi
ZIP Area
9,130
Density / Sq Mi
$182,500
Median Household Income
$95,616
Median Earnings
$2,197
Median Rent
$1,028,100
Median Home Value
Market
Vacancy Rate% for Office in Seattle, WA
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Two office condo units with separate entrances and private restrooms, each with dedicated HVAC, utilities, and meters.
Where is this office units located?
The property is located at B-3408 Ne 65th St Seattle, WA.
What is the asking price?
The asking price for this property is $345,000.
What are key features of this property?
This property features: Two commercial condo office units (Units A & B) at Bryant View Condominiums, available for sale separately or together; Each unit has its own individual entrance, private restroom, dedicated HVAC, water heater, and electric meter; Each unit is 879 SF; combined size is 1,758 SF
