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Crown Hill Retail Redevelopment 8337 15th Ave NW 7,208 SF 100% Leased Retail Building Seattle, WA 98117 $1,536,000 ($213.10/SF) 5% Cap Rate
INVESTMENT HIGHLIGHTS
- Direct Access to Safeway, Met Market, and other major retailers
- Low maintenance asset
- Cash Flow Positive Day 1
- Daily Traffic Counts Exceeding 25,000+
- Crown Hill Average Household Income $128,000+
- Current Tenancy through 2026 with extension opportunities
EXECUTIVE SUMMARY
8,165 SF commercial lot zoned NC3P-75 (M1) is currently built out with a dog groomer, photography studio, and a single-family residence. This offering is a fully leased opportunity to collect cash flow or hold as a covered land play. Built in 1937, the building houses 3 retail suites that have seen consistent tenancy for years (currently leased through 2026). Both commercial users on short term deals to allow for immediate redevelopment potential. The current configuration includes a rear parking lot with a single-family residence, adding additional rental income to the property. Positive cash flow day one, allows a developer flexibility to work on the project without bleeding capital on a property that sits vacant. Please use Steve Cory with Fidelity National Title.
FINANCIAL SUMMARY (ACTUAL - 2024) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
-
|
-
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
-
|
-
|
| Net Operating Income |
$76,816
|
$10.66
|
FINANCIAL SUMMARY (ACTUAL - 2024)
| 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 | $76,816 |
| Annual Per SF | $10.66 |
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Property Subtype
Storefront Retail/Residential
Building Size
7,208 SF
Building Class
C
Year Built
1985
Price
$1,536,000
Price Per SF
$213.10
Cap Rate
5%
NOI
$76,816
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.87
Lot Size
0.19 AC
Zoning
NC3P-75 (M-1) - Neighborhood Commercial-3 with a Pedestrian Designation.
Urban Village Zoned.
Parking
4 Spaces (0.55 Spaces per 1,000 SF Leased)
Frontage
83’ on 15th Ave
AMENITIES
- Bus Line
MAJOR TENANTS
- TENANT
- INDUSTRY
- SF OCCUPIED
- RENT/SF
- LEASE TYPE
- LEASE END
- Color 1 Photo
- Arts, Entertainment, and Recreation
- 2,408 SF
- -
- -
- -
- Olive Dog Grooming
- Services
- 3,000 SF
- -
- Single Net
- -
- Rental House
- Real Estate
- 1,800 SF
- -
- -
- -
| TENANT | INDUSTRY | SF OCCUPIED | RENT/SF | LEASE TYPE | LEASE END | |
| Color 1 Photo | Arts, Entertainment, and Recreation | 2,408 SF | - | - | - | |
| Olive Dog Grooming | Services | 3,000 SF | - | Single Net | - | |
| Rental House | Real Estate | 1,800 SF | - | - | - |
Walk Score®
Very Walkable (87)
Bike Score®
Very Bikeable (76)
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 758870-0285 | Improvements Assessment | $1,000 |
| Land Assessment | $1,918,700 | Total Assessment | $1,919,700 |
PROPERTY TAXES
Parcel Number
758870-0285
Land Assessment
$1,918,700
Improvements Assessment
$1,000
Total Assessment
$1,919,700
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Contact the Sale Advisor
Crown Hill Retail Redevelopment | 8337 15th Ave NW
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