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Crown Hill Retail Redevelopment 8337 15th Ave NW 7,208 SF 100% Leased Retail Building Seattle, WA 98117 $2,089,436 CAD ($289.88 CAD/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 (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
-
|
-
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
-
|
-
|
| Net Operating Income |
$104,494
|
$14.50
|
Financial Summary (Actual - 2024)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $104,494 |
| Annual Per SF | $14.50 |
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
$2,089,436 CAD
Price Per SF
$289.88 CAD
Cap Rate
5%
NOI
$104,494 CAD
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 | $1,360 CAD |
| Land Assessment | $2,610,027 CAD | Total Assessment | $2,611,387 CAD |
Property Taxes
Parcel Number
758870-0285
Land Assessment
$2,610,027 CAD
Improvements Assessment
$1,360 CAD
Total Assessment
$2,611,387 CAD
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Crown Hill Retail Redevelopment | 8337 15th Ave NW
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