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Classic Collison 13036 Lake City Way NE 8,586 SF Retail Building Seattle, WA 98125 $3,250,000 ($378.52/SF) 5.01% Cap Rate
Executive Summary
Seattle NNN Investment | 5.01% Cap | Long-Term Tenant | Rent Growth
Seattle NNN investment offering stable, predictable income from a long-term, recession-resistant tenant. Leased to Classic Collision through September 2031 with (3) five-year extension options, providing durability and long-term income security. Current base rent of $162,000 increases annually by 3%, growing the cap rate from 5.01% to approximately 5.81% over the initial lease term, with continued upside through the option periods. Functional multi-building auto facility positioned on high-traffic Lake City Way NE with strong visibility and excellent access to I-5, Northgate, and the University District. Zoned NC3-55 (M), allowing mixed-use redevelopment up to 55’, creating future flexibility and land value upside. Ideal for investors seeking reliable cash flow, low management, and long-term appreciation in a supply-constrained Seattle market.
Seattle NNN investment offering stable, predictable income from a long-term, recession-resistant tenant. Leased to Classic Collision through September 2031 with (3) five-year extension options, providing durability and long-term income security. Current base rent of $162,000 increases annually by 3%, growing the cap rate from 5.01% to approximately 5.81% over the initial lease term, with continued upside through the option periods. Functional multi-building auto facility positioned on high-traffic Lake City Way NE with strong visibility and excellent access to I-5, Northgate, and the University District. Zoned NC3-55 (M), allowing mixed-use redevelopment up to 55’, creating future flexibility and land value upside. Ideal for investors seeking reliable cash flow, low management, and long-term appreciation in a supply-constrained Seattle market.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Building Size
8,586 SF
Building Class
C
Year Built
1961
Price
$3,250,000
Price Per SF
$378.52
Cap Rate
5.01%
NOI
$162,825
Tenancy
Single
Building Height
1 Story
Building FAR
0.37
Lot Size
0.54 AC
Zoning
NC3-55(M) - Mixed Use Development up to 55'.
Parking
45 Spaces (5.24 Spaces per 1,000 SF Leased)
Frontage
101’ on Lake City
Amenities
- Bus Line
Moderately walkable
60/100
Exceptionally drivable
90/100
Good public transit
60/100
Fairly bikeable
50/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 145360-1780 | Improvements Assessment | $1,000 |
| Land Assessment | $2,759,200 | Total Assessment | $2,760,200 |
Property Taxes
Parcel Number
145360-1780
Land Assessment
$2,759,200
Improvements Assessment
$1,000
Total Assessment
$2,760,200
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Classic Collison | 13036 Lake City Way NE