11552 15th Ave NE
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11552 15th Ave NE
5,656 SF Retail Building Seattle, WA 98125 $2,975,000 ($526/SF) 2.65% Cap Rate
Investment Highlights
- Great exposure on 15th ave NE. Nearby hockey sports areans, movie theraters, Malls, light-rail stations, parks and more!
Executive Summary
Introducing Northgate's newest development opportunity on busy 15th ave NE in Seattle. Great entry price point for almost any type of entrepreneur or investor/developer. Perfect location for builders to build now or investors to buy and hold. Property cash flows from (2) retail tenants. Great location with building sitting on about half the lot and the other half for parking. On the NW corner of 16,259 sq ft lot is a long standing food truck tenant with over 10 years in successful operation. The building is exceptional with half-barrel roof style which allows the building to experience a wide open floor plan. The 900 sq foot, 2nd floor is an added bonus, including back-to-back restrooms offers many options. This large 5,656 Sq ft building has back-to-back ADA rest rooms and utility closet on the first floor. This utility floor plan leaves plenty of options for flexible usage. Property is is zoned NC2-55 (M) and flat terrain ready for your mid rise production. Collect rents during entitlement stage and be part of vital NE Seattle, where malls, theaters, sports arenas and everyday coffee shop thrive and work.
Financial Summary (Actual - 2023) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2023) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
Sale Type
Investment or Owner User
Sale Conditions
Property Type
Retail
Property Subtype
Auto Repair
Building Size
5,656 SF
Building Class
C
Year Built
1945
Price
$2,975,000
Price Per SF
$526
Cap Rate
2.65%
NOI
$78,838
Tenancy
Single
Building Height
1 Story
Building FAR
0.35
Land Acres
0.37 AC
Zoning
NC240 - neighborhood commercial 5 & 6 story height potential. Buyer to verify all local codes.
Parking
24 Spaces (4.08 Spaces per 1,000 SF Leased)
Frontage
Walk Score ®
Very Walkable (87)
Bike Score ®
Very Bikeable (77)
Nearby Major Retailers
PROPERTY TAXES
| Parcel Number | 679810-0765 | Total Assessment | $1,626,900 |
| Land Assessment | $1,625,900 | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $1,000 | Tax Year | 2023 |
PROPERTY TAXES
Parcel Number
679810-0765
Land Assessment
$1,625,900
Improvements Assessment
$1,000
Total Assessment
$1,626,900
Annual Taxes
($1) ($0.00/SF)
Tax Year
2023
-
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11552 15th Ave NE
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