Listing Agency: Windermere Real Estate GH LLC e***@windermere.com Show Phone

Listed By: Adam E. Cobb · License #100973 Show Phone

Source: Exprealty

Added: Oct 16 Changed: Oct 19 Last Checked: Oct 19 at 2:13PM

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Investment Insights

Based on property information with market context.

This 1,083-square-foot storefront has a street-level entry and window frontage. Its open main room is complemented by a dedicated reception area, a private office, and a separate meeting room. A kitchenette with a double sink and cabinetry, a restroom, and substantial storage complete the interior. Hardwood-style flooring and large windows are additional features.

The property is on 15th Avenue NE in Seattle’s Pinehurst neighborhood, among residential communities and neighborhood businesses. Northgate, Lake City, shopping, dining, and major transportation corridors are accessible from the location.

Key Highlights

• 1,083‑square‑foot commercial storefront
• Street‑level entrance with storefront windows
• Open main room plus private office and separate meeting area

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$22,061

Cap Rate

5.53%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$441,220 $441.2K

Cap Rate 7%

$315,157 $315.2K

Cap Rate 9%

$245,122 $245.1K

Is this asking price fair?

Market Conditions

NOI Build-Up for 1,083 SF

Gross rent

$32.5K $30.00/SF

− Vacancy

−$975 −$0.90/SF

EGI

$31.5K $29.10/SF

− OpEx

−$9.5K −$8.73/SF

NOI

$22.1K $20.37/SF

Area

ZIP 98125

Vacancy

3.00%

Lease Rate

$30.00 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$441,220

Cap Rate 7%

$315,157

Cap Rate 9%

$245,122

Alternative Uses

Best Use

Retail

$315.2K

$275.8K – $367.7K (±1% cap)

NOI $22,061 @ 7.0% cap · market cap 5.53%

Second Best

—

—

no second resolved use

Theoretical Best

Specialty Retail

$349.4K

$305.7K – $407.6K (±1% cap)

NOI $24,455 @ 7.0% cap · market cap 6.13%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Current Use

Storefront properties

Suggested Use

Top Pick (Bike/Boat/Book/etc) Store Electrical Service HVAC Service Mobile Phone Store Auto Parts Store Butcher

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

5,855

Businesses Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Demographics for 98125, WA

42,965

Population

21,493

Households

2

Avg Household Size

37

Median Age

61%

College-Educated

94%

High-School Grad

5.4 sq mi

ZIP Area

7,956

Density / Sq Mi

$96,725

Median Household Income

$61,552

Median Earnings

$1,856

Median Rent

$844,500

Median Home Value

Market

Vacancy Rate% for Retail in Seattle, WA

4.5% 2019

4.4% 2020

3.9% 2021

3.6% 2022

3.8% 2023

4.7% 2024

5.7% 2025

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Frequently Asked Questions

What type of property is this?

Storefront property - The 1,083-square-foot interior includes a private office, meeting area, kitchenette, reception space, restroom, and storage.

Where is this storefront property located?

The property is located at C2-12056 15th Avenue Ne Seattle, WA.

What is the asking price?

The asking price for this property is $399,000.

What are key features of this property?

This property features: 1,083‑square‑foot commercial storefront; Street‑level entrance with storefront windows; Open main room plus private office and separate meeting area