400 Ravenna Blvd Seattle, WA 98115
- Retail properties
- 4,104 SF
Current Use by Public Records
- KeyBank / Mortgage Lender / Bank
Property Details for 400 Ravenna Blvd
- Year built
- 2007
- Property size
- 4,104 SF
- Property type
- Retail properties
- Property subtype
- Banks
Description
This exceptional investment opportunity presents a 4,104-square-foot Class A retail bank property located at 400 NE Ravenna Blvd, Seattle, WA 98115, within King County. The property, built in 2007, is a single-tenant net lease (NNN) with KeyBank as the tenant, boasting 100% occupancy. The current lease, expiring September 30, 2027, offers a remaining term of approximately 2.9 years, with four five-year renewal options and 1% annual rent bumps. The asking price is $2,140,000, translating to a price per square foot of $521.44 and a compelling 7.85% cap rate, based on a net operating income (NOI) of $168,273. The property includes twelve dedicated parking spaces, a rare drive-thru ATM, and is situated within the Florera Condo development, a mixed-use building with 59 residential condominiums. Its prime location directly across from Green Lake Park and near Roosevelt light rail station offers exceptional visibility and accessibility. The building holds a LEED Silver Certification. This is a rare opportunity to acquire a well-located, stable, and high-performing retail investment in a desirable Seattle neighborhood.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Seattle
- County
- King
- State
- Washington
- Longitude
- -122.325
- Latitude
- 47.679
