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407 W Galer St - Retail Building 407 W Galer St 2,086 SF Retail Building Seattle, WA 98109 $1,325,000 ($635.19/SF) 5.16% Cap Rate
Investment Highlights
- Freestanding 2,086 SF retail building leased to a single tenant on a NNN lease
- Coveted location just steps from cafes, shops, restaurants, services, parks & transit
- Both floors have tons of storage, kitchenette/breakrooms, W/D & private restrooms
- Studs-out remodel in 2007 with modernized interior and updated electrical, plumbing, HVAC & ADA ramp
- Built out as a salon & spa with the 1st floor featuring an open floor and the 2nd floor featuring 5 private spa rooms & waiting area
- Incredible opportunity to purchase a freestanding commercial building with flexible zoning allowing retail, office, multi-family, medical/dental, etc.
Executive Summary
Rare opportunity to purchase a freestanding commercial retail building in a coveted top of Queen Anne location. Studs out remodel in 2007 including all new electrical, plumbing, HVAC & ADA ramp. The 2,086 SF building is currently configured as a Salon & Spa but the open floor plan makes it ideal for many different uses. The first floor is flooded by natural light from the floor-to-ceiling windows fronting West Galer St. and features a large reception/waiting area, 4 salon stations, hair washing space, kitchenette, W/D, storage & restroom. The 2nd floor has a quaint waiting nook, 5 private spa rooms, kitchenette, shower, W/D & restroom. Flexible NC2P-55 zoning allows for a variety of uses including retail, office, residential, etc. Leased to a single tenant on a NNN lease until 12/15/28. No option to extend the lease, but long-term tenant indicates they'd like to stay. Available for an owner-user to occupy upon lease termination, or continue collecting rent and the realizing the benefits of owning a hands-off investment property in an unbeatable location. Please don't disturb tenant.
Financial Summary (Actual - 2026) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2026) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
Sale Type
Investment or Owner User
Property Type
Retail
Property Subtype
Freestanding
Building Size
2,086 SF
Building Class
C
Year Built/Renovated
1914/2007
Price
$1,325,000
Price Per SF
$635.19
Cap Rate
5.16%
NOI
$68,400
Tenancy
Single
Building Height
2 Stories
Building FAR
1.16
Lot Size
0.04 AC
Zoning
NC2P-55 (M1) - NC2 zoning is a moderately-sized pedestrian-oriented shopping area providing a full range of retail sales & services to the surrounding neighborhood.
Frontage
30’ on West Galer St
Amenities
- 24 Hour Access
- Security System
- Signage
- Skylights
- Wheelchair Accessible
- Storage Space
- Air Conditioning
- Smoke Detector
Major Tenants Click Here to Access
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease Type
- Lease End
-
- Services
-
99,999 SF
-
$9.99
-
Lorem Ipsum
-
Jan 0000
For more than 15 years, Intermezzo Salon & Spa has been a Seattle leader in hair design, spa treatments, massage therapy and other personal care services. Your experience is their top priority, whether you are here for one treatment or are indulging in an entire spa day.
| Tenant | Industry | SF Occupied | Rent/SF | Lease Type | Lease End | |
|
|
Services | 99,999 SF | $9.99 | Lorem Ipsum | Jan 0000 |
Walk Score®
Very Walkable (88)
Nearby Major Retailers
Property Taxes
| Parcel Number | 173280-1420 | Total Assessment | $1,095,100 (2024) |
| Land Assessment | $446,400 (2024) | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $648,700 (2024) | Tax Year | 2026 Payable 2026 |
Property Taxes
Parcel Number
173280-1420
Land Assessment
$446,400 (2024)
Improvements Assessment
$648,700 (2024)
Total Assessment
$1,095,100 (2024)
Annual Taxes
($1) ($0.00/SF)
Tax Year
2026 Payable 2026
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Contact the Sale Advisor
407 W Galer St - Retail Building | 407 W Galer St