Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1215 Bailey St Seattle, WA 98108

    • Specialty properties
    • 11,093 SF
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Specialty properties

    Property Details for 1215 Bailey St

    Property size
    11,093 SF
    Property type
    Specialty properties

    Description

    This exceptional 11,093 square foot commercial property, located at 1215 S Bailey St, Seattle, WA 98108, presents a unique investment opportunity. Currently configured as a multi-tenant shop and office space, it offers immediate occupancy of 2,500 square feet of vacant space. The building is served by Seattle City Light and boasts two parking spaces. The property is zoned C 240, providing flexibility for a variety of uses. The total building size is 11,093 square feet. The annual property taxes are $15,699.65. This prime Seattle location offers excellent visibility and accessibility, making it ideal for businesses seeking a high-traffic area. The existing tenant mix provides a stable income stream, while the available space allows for expansion or the addition of new tenants. The property's versatile zoning and ample square footage make it suitable for a wide range of commercial ventures. This is a rare opportunity to acquire a well-located, established commercial property in a thriving Seattle neighborhood. The property's strategic location and flexible layout offer significant potential for growth and return on investment. Serious inquiries are encouraged.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Seattle
    County
    King
    State
    Washington
    Longitude
    -122.317
    Latitude
    47.5476

    Comparable in this City

    • Value Estimation by Request
      0.81 Acres

      Seattle, WA 98108

      ZOO • 0.81 Acres
      Seattle, WA 98108
      View Details
    • Value Estimation by Request
      0.17 Acres

      Seattle, WA 98108

      ZOO • 0.17 Acres
      Seattle, WA 98108
      View Details
    • Value Estimation by Request
      0.17 Acres

      Seattle, WA 98108

      ZOO • 0.17 Acres
      Seattle, WA 98108
      View Details
    • Value Estimation by Request
      4.10 Acres

      Seattle, WA 98108

      ZOO • 4.10 Acres
      Seattle, WA 98108
      View Details
    • Value Estimation by Request
      5.13 Acres

      800 Homer St

      ZOO • 5.13 Acres
      800 Homer St, Seattle, WA 98108
      View Details
    • Value Estimation by Request
      11,069 SF

      1215 Bailey St

      Specialty properties • 11,069 SF
      1215 Bailey St, Seattle, WA 98108
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      South Park Stand-Alone Building

      Stand-alone building in South Park with exclusive parking.
      1417 S Trenton St, Seattle, WA 98108
      View Details
    • Contact for pricing
      9,052 SF

      Seattle Specialty Property For Sale

      9,052 SF specialty property available in Seattle, Washington.
      3801 7Th Ave S, Seattle, WA 98108
      View Details
    • $35,418,900
      128,796 SF

      Seattle Commercial Property for Sale

      Commercial property available for purchase in Seattle, Washington.
      6901 Fox Ave S, Seattle, WA 98108
      View Details
    • Contact for pricing

      Duwamish River Waterfront Marina

      Seattle marina with haul-out, pressure wash, and storage services.
      8500-8604 Dallas Ave S, Seattle, WA 98108
      View Details
    • $10,975,000

      Duwamish River Waterfront Marina

      Seattle marina with haul-out, wash, and storage services.
      8500 Dallas Ave S, Seattle, WA 98108
      View Details
    • Contact for pricing

      Georgetown Flex Space Available

      High-quality, divisible flex space in dynamic Georgetown neighborhood.
      6363 7Th Ave S, Seattle, WA 98108
      View Details

    Similar Nearby for Lease

    • $12,698 /Mo
      7,619 SF

      Seattle Commercial Space Available

      Commercial space available for rent in Seattle, Washington.
      6100 4Th Ave S, Seattle, WA 98108
      View Details
    • Contact for pricing

      King County Hangar for Lease

      5,544 SF private aircraft hangar available for lease.
      8900 East Marginal Way South, Tukwila, WA 98108
      View Details
    • Contact for pricing

      Seattle Warehouse Kitchen and Office

      Flexible kitchen and office space in Seattle warehouse for rent.
      655 S Andover St, Seattle, WA 98108
      View Details
    • Contact for pricing
      6,240 SF

      Industrial Space Available For Lease

      6,240 SF industrial space available for lease July 1, 2025.
      650-670 S Lucile St, Seattle, WA 98108
      View Details
    • Contact for pricing
      6,080 SF

      Industrial Space in Seattle Available

      Industrial property available for rent in Seattle, Washington.
      401-415 S Brandon St, Seattle, WA 98108
      View Details
    • Contact for pricing

      Land Available For Lease

      Land available for lease at 9229 E Marginal Way S, Seattle.
      9229 E Marginal Way S, Seattle, WA 98108
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    1215 Bailey St
    Seattle, WA 98108
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!