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    6717 Roosevelt Way Seattle, WA 98115
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    Property profile & analytics

    6717 Roosevelt Way Seattle, WA 98115

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    • Commercial real estate
    Off-Market
    Property ID
    US90-1389462
    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
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Washer and Dryer Repair Services / Appliance Repair Service / Washer & Dryer Repair Service
    • Seven Starlings Workloft / Coworking & Hybrid Office
    • Progressive Tech / Computer & Electronic Repair
    • Citra Support / IT Consulting Firm / (Bike/Boat/Book/etc) Store
    • Lucille Apartments / Apartment Complex

    Property Details for 6717 Roosevelt Way

    Property type
    Commercial real estate

    Description

    This exceptional 1,627 square foot retail space, located at the base of the 106-unit Lucille on Roosevelt residential building, presents a unique opportunity for a discerning tenant. Ideally suited for a wine bar or small plates restaurant, this street-level space boasts stunning features including expansive operable storefront windows (15' wide x 11' high) and high ceilings (17'2" overall, 8' below and 8'4" at the mezzanine). The polished concrete floors add to the modern aesthetic. The space also includes a 531 square foot mezzanine, providing additional versatility. A significant advantage is the ability to install either a Type 1 or Type 2 hood, catering to various culinary needs. An ADA-compliant restroom is conveniently located within the unit. The space is served by a robust electrical system (one 225A 3-phase). Tenants will also enjoy access to shared amenities, including "The Nook," an outdoor seating area complete with a fireplace. The rental rate is $38 per square foot for the ground floor and $28 per square foot for the mezzanine, resulting in a total monthly rent of $6,391.16 plus NNN charges. A long-term lease is available. This is a truly remarkable opportunity to establish a thriving business in a vibrant, high-traffic location.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Seattle
    County
    King
    State
    Washington
    Longitude
    -122.317723
    Latitude
    47.6778091

    Comparable in this City

    • Contact for pricing

      Seattle Commercial Space For Rent

      Commercial space suitable for professional service businesses in Seattle, WA.
      9634 Roosevelt Way NE, Seattle, WA 98115
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    • $4,249 /Mo
      2,215 SF

      Maple Leaf Retail/Office Space

      Vacant retail/medical/office space in North Seattle's Maple Leaf neighborhood.
      9400 Roosevelt Way NE, Seattle, WA 98115
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    • $3,758 /Mo
      1,670 SF

      Two-Level Commercial Building Available

      Two-level commercial building with basement garage parking for rent.
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      Open Office Space Available

      Open office space with shared waiting area for rent.
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      2,904 SF

      Prime Location Office Space

      Office space near light rail, shops, and restaurants.
      301 100Th St, Seattle, WA 98115
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    • $3,168 /Mo
      905 SF

      Seattle Office Space Available

      Ready-to-occupy office space available for rent in Seattle.
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      Seattle Commercial Space For Rent

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      Two-Level Commercial Building Available

      Two-level commercial building with basement garage parking for rent.
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      Maple Leaf Retail/Office Space

      Vacant retail/medical/office space in North Seattle's Maple Leaf neighborhood.
      9400 Roosevelt Way NE, Seattle, WA 98115
      View Details
    • $14,400 /Mo
      192 SF

      Open Office Space Available

      Open office space with shared waiting area for rent.
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      View Details
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      2,904 SF

      Prime Location Office Space

      Office space near light rail, shops, and restaurants.
      301 100Th St, Seattle, WA 98115
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      Office Space Near Green Lake

      Office space for rent, conveniently located across from Green Lake.
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    Seattle, WA 98115
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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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