Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    207 1St Ave S Seattle, WA 98104
    Back to Search
    Property profile & analytics

    207 1St Ave S, Seattle, WA 98104

    View on Map
    • Office buildings
    • 13,370 SF
    • 0.08 lot acres
    For Lease
    $28 SF/Yr
    View Listing →
    Office Space with High Ceilings For Lease
    $28 SF/Yr

    Office Space with High Ceilings

    Office space for lease featuring high ceilings and brick walls.

    207 1st Ave S, Seattle, WA 98104
    View Listing
    Property ID
    US90-0154615
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    $2,800,000
    Cap Rate Potential
    9%
    Office buildings
    Location Intelligence

    Current Use by Public Records

    • ATM / Atm
    • Reva Solutions / (Bike/Boat/Book/etc) Store / Corporate Office
    • Central Saloon / Restaurant

    Property Details for 207 1St Ave S

    Year built
    1900
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.08 lot acres
    Zone code
    PSM-100
    Property type
    Office buildings
    APN
    524780-0120
    APU
    5247800120

    Description

    This exceptional Seattle commercial property, the Skagit Building, offers a unique blend of historic charm and modern functionality. Located at 207 1st Ave S, in the vibrant 98104 zip code, this three-story building boasts 13,370 total square feet and is classified as a Class B property. Originally constructed in 1900 and renovated in 1975, the building retains its character with high ceilings and exposed brick walls, creating a desirable creative office environment. The property is currently configured for multiple tenants and offers flexible lease options. Two spaces are immediately available, with a minimum leasable area of 1,201 square feet and a maximum of 2,875 square feet. The building's prime location in Seattle, Washington, provides excellent access to transportation and amenities. The property's classification as both Executive and Creative Office space makes it ideal for a variety of businesses seeking a unique and inspiring workspace. Currently, 1,201 square feet of space is vacant and ready for immediate occupancy. This is a rare opportunity to secure office space in a historic Seattle building with significant character and modern conveniences. Inquire today to learn more about leasing options and explore the possibilities this property offers.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $2,780,000
      ML approach
      $2,720,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $4,175,000
      6.5%
      $3,850,000
      7%
      $3,575,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $2,747,000
      Market price range: $2.75M - $7.74M

    • Alternative Use

      Use
      Estimation
      MEDICAL BUILDING
      $4,595,000
      WAREHOUSE, STORAGE
      $3,950,000

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Seattle
    County
    King
    State
    Washington
    Longitude
    -122.335
    Latitude
    47.6006
    CBSA code
    42660
    CBSA name
    SEATTLE-TACOMA-BELLEVUE, WA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2022
    $14,235
    $1,381,900
    $291,900
    $1,673,800
    -
    $1,381,900
    $291,900
    $1,673,800

    Comparable in this City

    • Value Estimation
      $6,860,000
      36,330 SF

      104 1st S Ave

      OFFICE BUILDING
      104 1st S Ave, Seattle, WA 98104-2502
      View Details
    • Value Estimation
      $13,855,000
      93,240 SF

      400 Occidental S Ave

      OFFICE BUILDING
      400 Occidental S Ave, Seattle, WA 98104-2836
      View Details
    • Value Estimation
      $3,880,000
      26,334 SF

      Seattle, WA 98104

      OFFICE BUILDING
      Seattle, WA 98104
      View Details
    • Value Estimation
      $3,490,000
      293,576 SF

      1015 3rd Ave

      OFFICE BUILDING
      1015 3rd Ave, Seattle, WA 98104-1184
      View Details
    • Value Estimation
      $2,005,000
      8,202 SF

      999 3rd Ave

      OFFICE BUILDING
      999 3rd Ave, Seattle, WA 98104-4019
      View Details
    • Value Estimation
      $6,170,000
      46,620 SF

      83 Columbia St

      OFFICE BUILDING
      83 Columbia St, Seattle, WA 98104-1432
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      6,619 SF

      Belltown Office Building For Sale

      Corner lot office building in the heart of Belltown.
      2420 2Nd Avenue Ext, Seattle, WA 98104
      View Details
    • $695,000
      1,281 SF

      Pioneer Square Commercial Condo

      Commercial condo in historic Pioneer Square, ideal for various uses.
      512 1St Ave S, Seattle, WA 98104
      View Details
    • $925,000
      2,925 SF

      Pioneer Square Commercial Condo

      Classic brick condo in vibrant Pioneer Square neighborhood.
      512 1St Ave S, Seattle, WA 98104
      View Details
    • Contact for pricing
      776 SF

      Retail/Office Condo For Sale

      Retail/Office condo available for sale, move-in ready.
      3104 Western Ave, Seattle, WA 98104
      View Details
    • Contact for pricing
      2,352 SF

      Medical Condo in Seattle's District

      Move-in ready medical condo with downtown views and parking.
      1229 Madison St, Seattle, WA 98104
      View Details
    • Contact for pricing

      South Lake Union Development Opportunity

      Prime location with strong income and future development potential.
      232 7Th Ave N, Seattle, WA 98104
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Pioneer Square Creative Office Space

      Creative office spaces in Seattle's iconic Pioneer Square.
      308-316 Occidental Ave South, Seattle, WA 98104
      View Details
    • Contact for pricing
      10,639 SF

      Pioneer Square Office Space Available

      Office spaces available in the historic Delmar Building.
      108 S Washington St, Seattle, WA 98104
      View Details
    • Contact for pricing
      65,000 SF

      Creative Office Space Available

      Class A creative office space with large floorplates.
      83 South King St, Seattle, WA 98104
      View Details
    • Contact for pricing
      13,196 SF

      Historic Office Building in Seattle

      Prestigious office space in Seattle's financial district.
      705 2Nd Ave, Seattle, WA 98104
      View Details
    • Contact for pricing
      63,043 SF

      Seattle Office Space Available

      63,043 SF office space for rent in Seattle.
      419 Occidental Ave South, Seattle, WA 98104
      View Details
    View Listing
    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.
    207 1St Ave S
    Seattle, WA 98104
    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

    Thank You for Inquiry
    207 1St Ave S, Seattle, WA, 98104
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!