Property profile

550 NE Northgate Way Seattle, WA 98125

FOR LEASE
Retail space
Saved · see the list in your Dashboard
Property ID
US90-1602515
7,152 SF 0.62 ac Built 1984
Last sale Jul 2022
Entity Owned Owner of record is a legal entity (LLC / corporation). 1-yr Hold Held for 1 years. Free & Clear No active or open recorded mortgage detected.
Market Trends Soon

Property summary

AI-generated overview

The property is a retail space located at the corner of NE Northgate Way and 8th Ave NE, with a total area of approximately 7,200 square feet. It includes ample surface parking and is within walking distance of the Northgate Light Rail Station, providing transit accessibility. The space was previously used as a jewelry store and is configured as a retail tenancy with provisions in the prior lease for tenant changes, including a termination clause after three years.

Ownership intelligence

Who controls the opportunity?

Owner of record from public deeds, plus portfolio, hold profile and investor signals where the data supports them. Included with a plan.

Owner contacts

Can we reach the decision maker?

Skip-traced phones and e-mails of the owner. Included with a plan.

Debts

What is owed, to whom, and when it comes due

Recorded lenders, amounts and estimated maturities of the owner's loan book — included with a plan.

Property tax · 2022

What does the county charge?
$36k
Tax billed · 2022
Assessed value$3.77M
Assessed land$3.77M
Assessed improvement$1k
Effective rate0.95%

Value estimate

· Nov 2026
$2.24M
$2.01M – $2.46M
CAP approach$2.24M
Submarket $/SF estimate$1.40M
NOI build-up
Gross scheduled income$158k
Vacancy & credit loss−$5k
Operating expenses−$46k
NOI$107k

Realmo valuation models over county records and 5 qualifying comparable sales.

Recently sold

What actually traded nearby?
$401/SF
Submarket average, outlier-cleaned · 270 recorded sales of this use type
Observed band · Q1–Q3$189 – $689
Qualifying comparables5

Cap rate analysis

How does the asset earn?
$107k estimated NOI · market benchmarks for this use type

Price anchors at 6 / 6.5 / 7% — in the full report.

Zoning insight

What can be built here?
NC3-75 (M)
The intent of this district is to promote neighborhood commercial activities to support or encourage a pedestrian-oriented shopping distr...
General categoryCOMMERCIAL
JurisdictionKING

Location intelligence

Which uses thrive at this corner?
Best fit: HVAC Service
Demand heat for this use is drawn on the map · LocInt grid
Demand index
HVAC Service11.9
Wholesale Shop10.2
Grocery Store9.7

Location

550 NE Northgate Way Seattle, WA 98125
County assessor Recorded deeds · 6 transfers 5 qualifying comp sales Zoning catalog

Every figure names its source: public record, benchmark, or modeled. Coverage varies by property — thin data is stated as missing, never invented.

Comparables

6 recorded sales · 15 properties nearby
Recent sales nearby
6 recorded sales in this ZIP, last 8 years
Address Sale price Sold Size
12524 Lk City NE, Seattle, WA 98125-4425 $3,150,000 Feb 2024 9,920 SF
12742 Lk City NE, Seattle, WA 98125-4427 $1,400,000 Mar 2023 4,988 SF
551 Northgate, Seattle, WA 98125-6106 $2,571,199 Jan 2022 9,970 SF
12337 Lk City NE, Seattle, WA 98125-5401 $1,425,000 Jan 2022 7,620 SF
11306 Lk City NE, Seattle, WA 98125-5306 $2,150,000 Nov 2021 9,433 SF
3121 133rd, Seattle, WA 98125-4422 $1,861,000 Oct 2020 6,281 SF
Sale prices and dates as our records hold them, one row per building. A deed can cover more of a building than the size shown, so read the price against the size rather than dividing one by the other.
Comparable nearby
6 properties of the same type nearby
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Rey answers here. ChatGPT, Grok and Claude get the same data packet.

Includes: Price & PSF · Cap rate · Location · Zoning

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