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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    2801 Western Ave Seattle, WA 98104

    • Commercial real estate
    • 5,828 SF
    For Lease
    View listing
    $25 SF/Yr
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US90-1271774
    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.

    Current Use by Public Records

    • Olympus Apartments / Apartment Building / Apartment Complex
    • New Town Market / Grocery & Convenience Store / Food Market
    • ATM / Atm
    • Fcti / Atm
    • Seattle Pizza and Bar / Restaurant

    Property Details for 2801 Western Ave

    Property size
    5,828 SF
    Property type
    Commercial real estate

    Description

    This exceptional King County commercial property, located at 2801 Western Avenue in Seattle, WA 98121, offers 5,828 square feet of versatile space currently available for lease. The building is classified as Class B and features multiple tenancies, ideal for businesses seeking flexible office solutions. Three individual suites are immediately available, ranging in size from a minimum of 1,325 square feet to a maximum contiguous space of 2,400 square feet. The entire 5,828 square foot building is currently vacant, presenting a unique opportunity for a single tenant to occupy the entire space or for multiple tenants to lease individual suites. The property's "Retail, Office" designation reflects its adaptability to a variety of business needs. Its convenient Seattle location in King County offers excellent access to transportation and amenities. This is a prime opportunity for businesses seeking high-quality office space in a desirable urban setting. The property is categorized as Executive Office space, suggesting a sophisticated and professional environment. Interested parties should inquire about lease terms and conditions.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Seattle
    County
    King
    State
    Washington
    Longitude
    -122.3532296
    Latitude
    47.6157789

    Comparable in this City

    • $34 SF/Yr
      2,712 SF

      Belltown Office/Retail Space

      Seattle prime location, 2712 sq ft.
      2211 3Rd Ave, Seattle, WA 98121
      View Details
    • $25 SF/Yr
      2,110 SF

      Belltown Retail/Office Space Available

      Retail or office space in a high-traffic Belltown location.
      2100-2106 3Rd Ave, Seattle, WA 98121
      View Details
    • $24 SF/Yr
      18,228 SF

      Skye Belltown Retail Space

      Belltown retail, multiple spaces available. Prime Seattle location.
      500 Wall St, Seattle, WA 98121
      View Details
    • $35 SF/Yr
      2,110 SF

      Belltown Retail/Office Space

      Prime Seattle location, 2,110 sq ft, high visibility.
      2106 3Rd Ave, Seattle, WA 98121
      View Details
    • $25 SF/Yr
      662 SF

      Open Office Space with Light

      Second-floor office space featuring natural light and shared amenities.
      2124 3Rd Ave, Seattle, WA 98121
      View Details
    • $15 SF/Yr
      5,020 SF

      Office and Lab Space Available

      Office and former lab space in central Seattle location.
      2505-2523 3Rd Ave, Seattle, WA 98121
      View Details

    Similar Nearby for Sale

    • $860,000
      1,515 SF

      Belltown Office/Retail Space

      Seattle prime location, 1515 sq ft.
      2207 3Rd Ave, Seattle, WA 98121
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    • $1,550,000
      2,712 SF

      Belltown Office/Retail Space

      Prime Belltown location, 2712 sq ft.
      2211 3Rd Ave, Seattle, WA 98121
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    • $6,750,000
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      Belltown Office Building with Parking

      Six-story office building with parking in Seattle's Belltown neighborhood.
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    • Contact for pricing
      2 SF

      Belltown Retail or Office Space

      Retail or office space for lease or sale in Belltown.
      2211 Seattle St, Seattle, WA 98121
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    • Contact for pricing
      1,515 SF

      Belltown Retail or Office Space

      Prime corner retail or office space in downtown Seattle.
      2207 3Rd Ave, Seattle, WA 98121
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    • Contact for pricing
      10,380 SF

      Seattle Belltown Mixed-Use Building

      10,380 SF, Owner-User Opportunity
      2117 2Nd Ave, Seattle, WA 98121
      View Details

    Similar Nearby for Lease

    • $34 SF/Yr
      2,712 SF

      Belltown Office/Retail Space

      Seattle prime location, 2712 sq ft.
      2211 3Rd Ave, Seattle, WA 98121
      View Details
    • $25 SF/Yr
      2,110 SF

      Belltown Retail/Office Space Available

      Retail or office space in a high-traffic Belltown location.
      2100-2106 3Rd Ave, Seattle, WA 98121
      View Details
    • $24 SF/Yr
      18,228 SF

      Skye Belltown Retail Space

      Belltown retail, multiple spaces available. Prime Seattle location.
      500 Wall St, Seattle, WA 98121
      View Details
    • $35 SF/Yr
      2,110 SF

      Belltown Retail/Office Space

      Prime Seattle location, 2,110 sq ft, high visibility.
      2106 3Rd Ave, Seattle, WA 98121
      View Details
    • $25 SF/Yr
      662 SF

      Open Office Space with Light

      Second-floor office space featuring natural light and shared amenities.
      2124 3Rd Ave, Seattle, WA 98121
      View Details
    • $15 SF/Yr
      5,020 SF

      Office and Lab Space Available

      Office and former lab space in central Seattle location.
      2505-2523 3Rd Ave, Seattle, WA 98121
      View Details
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    2801 Western Ave
    Seattle, WA 98104
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    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
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