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2007 NE Ravenna Blvd 819 SF 2% Leased Retail Building Seattle, WA 98105 $1,825,000 ($2,228.33/SF) 6.12% Cap Rate
INVESTMENT HIGHLIGHTS
- Prime location on arterial
- Standalone home with 2 units and a Retail Cafe
- Successful, well established business included in sale price
EXECUTIVE SUMMARY
Unique property in Ravenna location, close to UVillage, UW and Stadiums. Mixed use with duplex and small cafe/retail store. Cafe/Retail business included in sale, grosses over $400k annually. Potential income on duplex up to $4,500 monthly or go Air BnB and gross up to $7k monthly. Sale of property includes successful cafe & retail store and a standalone house with 2 units.
FINANCIAL SUMMARY (PRO FORMA - 2022) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$129,000
|
$157.51
|
| Other Income |
$14,061
|
$17.17
|
| Vacancy Loss |
$10,320
|
$12.60
|
| Effective Gross Income |
$132,741
|
$162.08
|
| Taxes |
$6,661
|
$8.13
|
| Operating Expenses |
$14,307
|
$17.47
|
| Total Expenses |
$20,968
|
$25.60
|
| Net Operating Income |
$111,773
|
$136.47
|
FINANCIAL SUMMARY (PRO FORMA - 2022)
| Gross Rental Income | |
|---|---|
| Annual | $129,000 |
| Annual Per SF | $157.51 |
| Other Income | |
|---|---|
| Annual | $14,061 |
| Annual Per SF | $17.17 |
| Vacancy Loss | |
|---|---|
| Annual | $10,320 |
| Annual Per SF | $12.60 |
| Effective Gross Income | |
|---|---|
| Annual | $132,741 |
| Annual Per SF | $162.08 |
| Taxes | |
|---|---|
| Annual | $6,661 |
| Annual Per SF | $8.13 |
| Operating Expenses | |
|---|---|
| Annual | $14,307 |
| Annual Per SF | $17.47 |
| Total Expenses | |
|---|---|
| Annual | $20,968 |
| Annual Per SF | $25.60 |
| Net Operating Income | |
|---|---|
| Annual | $111,773 |
| Annual Per SF | $136.47 |
PROPERTY FACTS
Sale Type
Investment or Owner User
Property Type
Retail
Property Subtype
Building Size
819 SF
Building Class
C
Year Built/Renovated
1916/1990
Price
$1,825,000
Price Per SF
$2,228.33
Cap Rate
6.12%
NOI
$111,690
Percent Leased
2%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.24
Lot Size
0.08 AC
Zoning
SF 5000
AMENITIES
- Corner Lot
MAJOR TENANTS
- TENANT
- INDUSTRY
- SF OCCUPIED
- RENT/SF
- LEASE END
- Seven Coffee Roasters
- Accommodation and Food Services
- -
- -
- -
| TENANT | INDUSTRY | SF OCCUPIED | RENT/SF | LEASE END | ||
| Seven Coffee Roasters | Accommodation and Food Services | - | - | - |
Walk Score®
Very Walkable (89)
Transit Score®
Excellent Transit (71)
Bike Score®
Very Bikeable (74)
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 221800-0060 | Total Assessment | $779,500 (2024) |
| Land Assessment | $440,600 (2024) | Annual Taxes | $6,661 ($8.13/SF) |
| Improvements Assessment | $338,900 (2024) | Tax Year | 2022 |
PROPERTY TAXES
Parcel Number
221800-0060
Land Assessment
$440,600 (2024)
Improvements Assessment
$338,900 (2024)
Total Assessment
$779,500 (2024)
Annual Taxes
$6,661 ($8.13/SF)
Tax Year
2022
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2007 NE Ravenna Blvd
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