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1502 NW 52nd St 1,290 SF 7% Leased Office Building Seattle, WA 98107 $1,074,123 CAD ($832.65 CAD/SF) 6.07% Cap Rate
Executive Summary
Live/Work Townhome Just North of the Ballard Bridge
MLS #2499995
Discover a rare commercial-zoned live/work opportunity in the heart of Ballard—complete with dedicated parking and incredible flexibility.
Built in 2006, this thoughtfully designed property features a street-level commercial space paired with a bright, one-bedroom residence spanning the upper two floors. The spaces are connected for convenience, yet each offers its own private entrance, allowing for a variety of uses—from fully commercial to mixed-use living.
Natural light fills every level, creating an inviting and versatile environment perfect for both business and home.
Property Highlights:
Commercial zoning (C1-75)
1,290 sq ft total
Full kitchen with bamboo floors & stainless steel appliances
1 full bath upstairs + ¾ bath on ground floor
Washer/dryer hookup
Built-in alarm system
Two dedicated parking spaces
Layout Overview:
The ground floor features a light-filled commercial space with soaring 12’8” ceilings—ideal for a small business, studio, or creative workspace. Currently used as an income-generating rental, this flexible space could also serve as a spacious second bedroom or bonus area.
Upstairs, the second floor offers an open living area and modern kitchen, while the top floor includes a comfortable bedroom, full bath, in-unit laundry, and access to a private deck.
Endless Possibilities:
Live upstairs and run your business below
Generate income by leasing the commercial space or using it as a short-term rental
Convert to a spacious 2-bedroom, 1.75-bath townhome
Utilize the entire property as a commercial space
Lease the full building for investment potential
This is a unique opportunity to own a versatile property in one of Seattle’s most vibrant neighborhoods.
MLS #2499995
Discover a rare commercial-zoned live/work opportunity in the heart of Ballard—complete with dedicated parking and incredible flexibility.
Built in 2006, this thoughtfully designed property features a street-level commercial space paired with a bright, one-bedroom residence spanning the upper two floors. The spaces are connected for convenience, yet each offers its own private entrance, allowing for a variety of uses—from fully commercial to mixed-use living.
Natural light fills every level, creating an inviting and versatile environment perfect for both business and home.
Property Highlights:
Commercial zoning (C1-75)
1,290 sq ft total
Full kitchen with bamboo floors & stainless steel appliances
1 full bath upstairs + ¾ bath on ground floor
Washer/dryer hookup
Built-in alarm system
Two dedicated parking spaces
Layout Overview:
The ground floor features a light-filled commercial space with soaring 12’8” ceilings—ideal for a small business, studio, or creative workspace. Currently used as an income-generating rental, this flexible space could also serve as a spacious second bedroom or bonus area.
Upstairs, the second floor offers an open living area and modern kitchen, while the top floor includes a comfortable bedroom, full bath, in-unit laundry, and access to a private deck.
Endless Possibilities:
Live upstairs and run your business below
Generate income by leasing the commercial space or using it as a short-term rental
Convert to a spacious 2-bedroom, 1.75-bath townhome
Utilize the entire property as a commercial space
Lease the full building for investment potential
This is a unique opportunity to own a versatile property in one of Seattle’s most vibrant neighborhoods.
Financial Summary (Pro Forma - 2025) |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$71,835
|
$55.69
|
| Other Income |
-
|
-
|
| Vacancy Loss |
$16,326
|
$12.66
|
| Effective Gross Income |
$55,509
|
$43.03
|
| Taxes |
$8,302
|
$6.44
|
| Operating Expenses |
$4,898
|
$3.80
|
| Total Expenses |
$13,200
|
$10.23
|
| Net Operating Income |
$42,309
|
$32.80
|
Financial Summary (Pro Forma - 2025)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $71,835 |
| Annual Per SF | $55.69 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $16,326 |
| Annual Per SF | $12.66 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $55,509 |
| Annual Per SF | $43.03 |
| Taxes (CAD) | |
|---|---|
| Annual | $8,302 |
| Annual Per SF | $6.44 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $4,898 |
| Annual Per SF | $3.80 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $13,200 |
| Annual Per SF | $10.23 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $42,309 |
| Annual Per SF | $32.80 |
Property Facts
Sale Type
Investment or Owner User
Property Type
Office
Property Subtype
Building Size
1,290 SF
Building Class
B
Year Built
2006
Price
$1,074,123 CAD
Price Per SF
$832.65 CAD
Cap Rate
6.07%
NOI
$65,199 CAD
Percent Leased
7%
Tenancy
Multiple
Building Height
3 Stories
Typical Floor Size
464 SF
Slab To Slab
10’
Building FAR
0.67
Lot Size
0.04 AC
Zoning
C1-65 - Commercial / residential mixed use
Parking
2 Spaces (1.55 Spaces per 1,000 SF Leased)
Amenities
- 24 Hour Access
- Security System
- Signage
- Skylights
- Smoke Detector
1 1
Exceptionally walkable
90/100
Fairly drivable
40/100
Some public transit
50/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 276770-1525 | Total Assessment | $866,327 CAD (2024) |
| Land Assessment | $328,278 CAD (2024) | Annual Taxes | $8,302 CAD ($6.44 CAD/SF) |
| Improvements Assessment | $538,049 CAD (2024) | Tax Year | 2025 Payable 2025 |
Property Taxes
Parcel Number
276770-1525
Land Assessment
$328,278 CAD (2024)
Improvements Assessment
$538,049 CAD (2024)
Total Assessment
$866,327 CAD (2024)
Annual Taxes
$8,302 CAD ($6.44 CAD/SF)
Tax Year
2025 Payable 2025
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1502 NW 52nd St
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