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Seattle Mixed-Use Owner/User or Investment 2801 S Hanford St 3,800 SF 100% Leased Retail Building Seattle, WA 98144 $1,295,000 ($340.79/SF) 4.11% Cap Rate
Investment Highlights
- Street-level retail with basement plus upper-level residential unit creating diversified income
- Upper unit leased through July 2026, offering consistent in-place revenue
- Retail tenant currently on month-to-month agreement, providing opportunity for an owner to occupy or reposition the space
Executive Summary
Owner/User or Investment Opportunity in a high-growth Seattle location near Light Rail, positioned between MLK Jr. Way S and Rainier Ave S. Mixed-use buildings with flexible tenancy in this transit-oriented corridor rarely come to market.
The property includes a street-level retail space with basement currently occupied by a bakery/coffee shop on a month-to-month agreement, creating flexibility for an owner-user or future lease repositioning. The upper-level residential unit is leased through July 2026, providing stable income.
The layout supports a variety of uses including professional office, boutique retail, café concepts, or small business headquarters, and the space has previously operated as office.
Existing income provides a solid foundation with upside through rent adjustments, expense recovery, and lease restructuring. Additional income potential may exist through future laundry revenue and possible parking income.
Strong neighborhood growth driven by Light Rail expansion and ongoing redevelopment supports long-term value.
The property includes a street-level retail space with basement currently occupied by a bakery/coffee shop on a month-to-month agreement, creating flexibility for an owner-user or future lease repositioning. The upper-level residential unit is leased through July 2026, providing stable income.
The layout supports a variety of uses including professional office, boutique retail, café concepts, or small business headquarters, and the space has previously operated as office.
Existing income provides a solid foundation with upside through rent adjustments, expense recovery, and lease restructuring. Additional income potential may exist through future laundry revenue and possible parking income.
Strong neighborhood growth driven by Light Rail expansion and ongoing redevelopment supports long-term value.
Property Facts
Sale Type
Investment or Owner User
Property Type
Retail
Property Subtype
Freestanding
Building Size
3,800 SF
Building Class
B
Year Built
1906
Price
$1,295,000
Price Per SF
$340.79
Cap Rate
4.11%
NOI
$53,225
Percent Leased
100%
Tenancy
Multiple
Building Height
3 Stories
Building FAR
1.06
Lot Size
0.08 AC
Zoning
SM-NR-95(M)
Frontage
Walk Score®
Very Walkable (81)
Transit Score®
Excellent Transit (70)
Nearby Major Retailers
Property Taxes
| Parcel Number | 128230-0445 | Improvements Assessment | $460,300 |
| Land Assessment | $504,000 | Total Assessment | $964,300 |
Property Taxes
Parcel Number
128230-0445
Land Assessment
$504,000
Improvements Assessment
$460,300
Total Assessment
$964,300
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Seattle Mixed-Use Owner/User or Investment | 2801 S Hanford St