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2500 15th Ave W 5,745 SF Retail Building Seattle, WA 98119 $4,400,000 ($765.88/SF) 5.12% Cap Rate
Investment Highlights
- INVESTMENT-GRADE, CORPORATE-GUARANTEED LEASE
- OUTSTANDING URBAN LOCATION
- RECENT 15 YEAR LEASE RENEWAL
- LONG-TERM LEASE COMMITMENT
- FUTURE REDEVELOPMENT OPPORTUNITY
Executive Summary
The offering provides the opportunity to acquire a ±5,745 square foot single-tenant Sherwin-Williams. Sherwin-Williams (SHW) is an investment-grade tenant located in one of the most dynamic and highly sought-after trade areas of Seattle. The asset is located minutes from downtown Seattle and South Lake Union, two blocks from Expedia’s 1.95 million square foot headquarters, and in the heart of the dense, high-income neighborhoods of Queen Anne, Magnolia, and Ballard. In 2025, Sherwin-Williams executed a brand-new 15-year lease extension, securing 17 years of remaining term with scheduled rent escalations and options extending through 2052.
Financial Summary (Actual - 2025) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
-
|
-
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
-
|
-
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2025) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Freestanding
Building Size
5,745 SF
Building Class
C
Year Built
1960
Price
$4,400,000
Price Per SF
$765.88
Cap Rate
5.12%
NOI
$225,280
Tenancy
Single
Building Height
2 Stories
Building FAR
0.55
Lot Size
0.24 AC
Zoning
C1-40
Parking
12 Spaces (2.09 Spaces per 1,000 SF Leased)
Frontage
150’ on 15th
Amenities
- Signage
Walk Score®
Very Walkable (77)
Bike Score®
Very Bikeable (72)
Nearby Major Retailers
Property Taxes
| Parcel Number | 277110-8020 | Improvements Assessment | $583,900 (2024) |
| Land Assessment | $1,732,500 (2024) | Total Assessment | $2,316,400 (2024) |
Property Taxes
Parcel Number
277110-8020
Land Assessment
$1,732,500 (2024)
Improvements Assessment
$583,900 (2024)
Total Assessment
$2,316,400 (2024)
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