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600 40th St Seattle, WA 98107-5027

OFF-MARKET Manufacturing properties Google Maps
16,000 SF 0.83 ac lot Built 1987
Entity Owned ~ Est. High Equity
Estimated value (blended)
$6.47M
Range $5.82M – $7.12M (±10%)
Property ID US90-0177988

Property summary

AI-generated overview

This exceptional Seattle industrial property, known as Emerald Yard, offers 16,129 square feet of versatile flex and warehouse space in a single building. Located at 600 NW 40th Street, just one block from Leary Way, in the vibrant area between Fremont and Ballard, this property boasts a prime location with easy access to major transportation routes. The building features a 16'-24' ceiling height, providing ample vertical space for various uses. Loading and unloading are facilitated by two loading docks and one dock-high door. The property also includes 17 free on-site parking stalls for employees and visitors. The interior offers a blend of open warehouse space and private offices, ideal for a variety of businesses. The electrical service is robust, with 400-amp, 120/208 volt, 3-phase power. The entire 16,129 square feet is currently vacant, presenting a unique opportunity for a single tenant to occupy the entire building. The property sits on a sizable 36,200 square foot lot, zoned MML/U65 in King County, Washington (APN: 744200-0222). This is a rare opportunity to secure a substantial, well-equipped industrial space in a highly desirable Seattle neighborhood. The property's size, features, and location make it an ideal choice for businesses seeking a functional and strategically located space to expand or establish their operations. The ample parking and convenient access further enhance its appeal.

Property profile

Verified
Property type Manufacturing properties
Use group MANUFACTURING (LIGHT)
Year built 1987
Construction STEEL FRAME
Total area 16,000 SF
Lot 0.83 ac (36,200 SF)
Zoning code IG2 U/65
APN 744200-0222
UPID US90-0177988

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Current use

Occupant on record · Public records
  • Factory Production Facility
  • Big Box & Wholesale Store
  • Factory Industrial Manufacturer
  • (Bike/Boat/Book/etc) Store Grocery & Convenience Store
  • Training Center Sports School

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
$6.58M
CAP Approach CAP
by Request
Comparable Approach Comparable
$5.54M
Blend (final) Blend
$6.47M

Owner & transaction history

since 2025
Last sale
$8.5M
4 recorded transactions
2025
$8.5M
2021
$6.5M
2021
Price N/A
1999
$1.5M

Zoning & alternative use

IG2 U/65 · Seattle, WA
Top alternative use upside
Restaurant $8.4M +85.8%
Commercial (general) $8.1M +79.1%
Auto repair, garage $6.6M +45.6%

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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