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1502-1508 NW 52nd St 1,290 SF 52% Leased Office Building Seattle, WA 98107 $789,500 ($612.02/SF) 6.07% Cap Rate
Executive Summary
Live/Work Townhome Just North of the Ballard Bridge
MLS #2499995
Discover a rare commercial-zoned live/work opportunity in the heart of Ballard—complete with dedicated parking and incredible flexibility.
Built in 2006, this thoughtfully designed property features a street-level commercial space paired with a bright, one-bedroom residence spanning the upper two floors. The spaces are connected for convenience, yet each offers its own private entrance, allowing for a variety of uses—from fully commercial to mixed-use living.
Natural light fills every level, creating an inviting and versatile environment perfect for both business and home.
Property Highlights:
Commercial zoning (C1-75)
1,290 sq ft total
Full kitchen with bamboo floors & stainless steel appliances
1 full bath upstairs + ¾ bath on ground floor
Washer/dryer hookup
Built-in alarm system
Two dedicated parking spaces
Layout Overview:
The ground floor features a light-filled commercial space with soaring 12’8” ceilings—ideal for a small business, studio, or creative workspace. Currently used as an income-generating rental, this flexible space could also serve as a spacious second bedroom or bonus area.
Upstairs, the second floor offers an open living area and modern kitchen, while the top floor includes a comfortable bedroom, full bath, in-unit laundry, and access to a private deck.
Endless Possibilities:
Live upstairs and run your business below
Generate income by leasing the commercial space or using it as a short-term rental
Convert to a spacious 2-bedroom, 1.75-bath townhome
Utilize the entire property as a commercial space
Lease the full building for investment potential
This is a unique opportunity to own a versatile property in one of Seattle’s most vibrant neighborhoods.
MLS #2499995
Discover a rare commercial-zoned live/work opportunity in the heart of Ballard—complete with dedicated parking and incredible flexibility.
Built in 2006, this thoughtfully designed property features a street-level commercial space paired with a bright, one-bedroom residence spanning the upper two floors. The spaces are connected for convenience, yet each offers its own private entrance, allowing for a variety of uses—from fully commercial to mixed-use living.
Natural light fills every level, creating an inviting and versatile environment perfect for both business and home.
Property Highlights:
Commercial zoning (C1-75)
1,290 sq ft total
Full kitchen with bamboo floors & stainless steel appliances
1 full bath upstairs + ¾ bath on ground floor
Washer/dryer hookup
Built-in alarm system
Two dedicated parking spaces
Layout Overview:
The ground floor features a light-filled commercial space with soaring 12’8” ceilings—ideal for a small business, studio, or creative workspace. Currently used as an income-generating rental, this flexible space could also serve as a spacious second bedroom or bonus area.
Upstairs, the second floor offers an open living area and modern kitchen, while the top floor includes a comfortable bedroom, full bath, in-unit laundry, and access to a private deck.
Endless Possibilities:
Live upstairs and run your business below
Generate income by leasing the commercial space or using it as a short-term rental
Convert to a spacious 2-bedroom, 1.75-bath townhome
Utilize the entire property as a commercial space
Lease the full building for investment potential
This is a unique opportunity to own a versatile property in one of Seattle’s most vibrant neighborhoods.
Financial Summary (Pro Forma - 2025) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$52,800
|
$21.31
|
| Other Income |
-
|
-
|
| Vacancy Loss |
$12,000
|
$4.84
|
| Effective Gross Income |
$40,800
|
$16.46
|
| Taxes |
$6,102
|
$2.46
|
| Operating Expenses |
$3,600
|
$1.45
|
| Total Expenses |
$9,702
|
$3.92
|
| Net Operating Income |
$31,098
|
$12.55
|
Financial Summary (Pro Forma - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $52,800 |
| Annual Per SF | $21.31 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | $12,000 |
| Annual Per SF | $4.84 |
| Effective Gross Income | |
|---|---|
| Annual | $40,800 |
| Annual Per SF | $16.46 |
| Taxes | |
|---|---|
| Annual | $6,102 |
| Annual Per SF | $2.46 |
| Operating Expenses | |
|---|---|
| Annual | $3,600 |
| Annual Per SF | $1.45 |
| Total Expenses | |
|---|---|
| Annual | $9,702 |
| Annual Per SF | $3.92 |
| Net Operating Income | |
|---|---|
| Annual | $31,098 |
| Annual Per SF | $12.55 |
Property Facts
Sale Type
Investment or Owner User
Property Type
Office
Property Subtype
Building Size
1,290 SF
Building Class
B
Year Built
2006
Price
$789,500
Price Per SF
$612.02
Cap Rate
6.07%
NOI
$47,923
Percent Leased
52%
Tenancy
Multiple
Building Height
3 Stories
Typical Floor Size
464 SF
Slab To Slab
10’
Building FAR
0.67
Lot Size
0.04 AC
Zoning
C1-65 - Commercial / residential mixed use
Parking
2 Spaces (1.55 Spaces per 1,000 SF Leased)
Amenities
- 24 Hour Access
- Security System
- Signage
- Skylights
- Smoke Detector
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Exceptionally walkable
90/100
Fairly drivable
40/100
Some public transit
50/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 276770-1525 | Total Assessment | $636,000 (2024) |
| Land Assessment | $241,000 (2024) | Annual Taxes | $6,102 ($4.73/SF) |
| Improvements Assessment | $395,000 (2024) | Tax Year | 2025 Payable 2025 |
Property Taxes
Parcel Number
276770-1525
Land Assessment
$241,000 (2024)
Improvements Assessment
$395,000 (2024)
Total Assessment
$636,000 (2024)
Annual Taxes
$6,102 ($4.73/SF)
Tax Year
2025 Payable 2025
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Contact the Sale Advisor
1502-1508 NW 52nd St