Sign Up Successful!
You now have access to more from Realmo!
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

    415 1St Ave N Seattle, WA 98109

    • Office buildings
    • 127,735 SF
    • 0.66 lot acres
    For Lease
    View listing
    $30 SF/Yr
    Last Sale
    May 26, 2020
    Value Estimations
    $485,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US90-1274595
    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

    • Queen Anne Post Office / Post Office
    • RIW / Doctor
    • Shelly Appleton / Occupational Therapist
    • Linda Trafton / Physical Therapist / Practitioner Service Location
    • Sarah Christensen / Physical Therapist

    Property Details for 415 1St Ave N

    Year built
    1964
    Construction
    CONCRETE
    Lot size
    0.66 lot acres
    Property size
    127,735 SF
    Zone code
    SM-UP 85 (M)
    Property type
    Office buildings
    APN
    198820-0060
    APU
    1988200060

    Description

    Queen Anne Station, located at 415 1st Ave N in Seattle, WA 98109, offers a fantastic retail opportunity in King County. This property boasts a total of 8,188 square feet of retail space, currently entirely vacant and ready for immediate occupancy. The building is zoned for retail use and features a convenient 182-space parking lot for customers and employees. Multiple tenancy options are available, with spaces ranging from a minimum divisible size of 4,859 square feet down to a maximum contiguous space of 3,229 square feet. This presents a unique opportunity for businesses seeking flexible space to suit their specific needs. The property's prime location in the vibrant Queen Anne neighborhood offers excellent visibility and accessibility, ensuring high foot traffic and potential for strong sales. This is an exceptional chance to establish a thriving business in a sought-after Seattle location. The property's size and layout provide ample space for a variety of retail concepts, making it an ideal investment for both established businesses and new ventures. Contact us today to learn more about this exciting opportunity.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $485,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Seattle
    County
    King
    State
    Washington
    Longitude
    -122.356
    Latitude
    47.6229
    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
    $164,176
    $14,400,000
    $5,151,400
    $19,551,400
    -
    $14,400,000
    $5,151,400
    $19,551,400

    Comparable in this City

    • Value Estimation
      $395,000
      0.18 Acres

      345 Boren N Ave

      OFFICE BUILDING • 0.18 Acres
      345 Boren N Ave, Seattle, WA 98109-5306
      View Details
    • Value Estimation
      $285,000
      0.05 Acres

      8th N Ave

      OFFICE BUILDING • 0.05 Acres
      8th N Ave, Seattle, WA 98109
      View Details
    • Value Estimation
      $485,000
      17,820 SF

      500 Aurora N Ave

      OFFICE BUILDING • 17,820 SF
      500 Aurora N Ave, Seattle, WA 98109-4648
      View Details
    • Value Estimation
      $745,000
      430,191 SF

      500 5th N Ave

      OFFICE BUILDING • 430,191 SF
      500 5th N Ave, Seattle, WA 98109-4636
      View Details
    • Value Estimation
      $720,000
      213,834 SF

      100 4th N Ave

      OFFICE BUILDING • 213,834 SF
      100 4th N Ave, Seattle, WA 98109-4905
      View Details
    • Value Estimation
      $465,000
      8,400 SF

      Seattle, WA 98109

      OFFICE BUILDING • 8,400 SF
      Seattle, WA 98109
      View Details

    Similar Nearby for Sale

    • $2,750,000

      Queen Anne Commercial District Opportunity

      Four-story Class A office and music production studio for sale.
      2214 Queen Anne Ave N, Seattle, WA 98109
      View Details
    • $8,450,000
      41,191 SF

      Class A Office in Seattle

      Six-story, 41,191 SF office building in South Lake Union.
      760 Aloha St, Seattle, WA 98109
      View Details
    • Contact for pricing
      69 SF

      South Lake Union Plug & Play

      Office space in the heart of South Lake Union.
      425 Pontius Ave N | Seattle, Seattle, WA 98109
      View Details
    • $2,500,000

      Lake Union Office/Flex Opportunity

      Standalone office/flex space with gym, storage, and secure parking.
      921 Aurora Ave N, Seattle, WA 98109
      View Details
    • $3,800,000

      Belltown Multifamily/Hotel Redevelopment Opportunity

      Value-add investment near Pike Place Market with high-rise redevelopment potential.
      2200-2204 1St Ave, Seattle, WA 98109
      View Details
    • $3,650,000

      Queen Anne Apartments with Views

      Well-maintained 11-unit building with views of Seattle landmarks.
      501 Highland Dr, Seattle, WA 98109
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      10,402 SF

      Fremont Cut Waterfront Office Campus

      Three-building campus with renovated amenities and canal views.
      4 W Nickerson St, Seattle, WA 98109
      View Details
    • Contact for pricing
      3,895 SF

      Office and Lab Space Available

      Office and lab space available for rent in Seattle.
      219 Terry Ave N, Seattle, WA 98109
      View Details
    • $32 SF/Yr
      33,978 SF

      Lake Union Creative Office Tower

      Stunning Seattle office space with lake views.
      766 Garfield St, Seattle, WA 98109
      View Details
    • $25 SF/Yr
      294,000 SF

      Komo Plaza Executive Office Space

      Seattle Office Space: 3,037 sq ft Available
      100 4Th Ave, Seattle, WA 98109
      View Details
    • $45 SF/Yr
      503 SF

      Small Office Space For Rent

      Small office space available for rent.
      1463 E Republican St, Seattle, WA 98109
      View Details
    • Contact for pricing
      14,400 SF

      Seattle Office Space Available

      14,400 SF office space for rent in Seattle.
      401 Queen Anne Ave N, Seattle, WA 98109
      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.
    415 1St Ave N
    Seattle, WA 98109
    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.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.