2007 NE Ravenna Blvd
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2007 NE Ravenna Blvd
819 SF 2% Leased Retail Building Seattle, WA 98105 $2,595,150 CAD ($3,169 CAD/SF) 6.12% Cap Rate
Investment Highlights
- Prime location on arterial
- Standalone home with 2 units and a Retail Cafe
- Successful, well established business included in sale price
Executive Summary
Unique property in Ravenna location, close to UVillage, UW and Stadiums. Mixed use with duplex and small cafe/retail store. Cafe/Retail business included in sale, grosses over $400k annually. Potential income on duplex up to $4,500 monthly or go Air BnB and gross up to $7k monthly. Sale of property includes successful cafe & retail store and a standalone house with 2 units.
Financial Summary (Pro forma - 2022) |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$182,513
|
$222.85
|
| Other Income |
$19,894
|
$24.29
|
| Vacancy Loss |
$14,601
|
$17.83
|
| Effective Gross Income |
$187,806
|
$229.31
|
| Taxes |
$9,424
|
$11.51
|
| Operating Expenses |
$20,242
|
$24.72
|
| Total Expenses |
$29,666
|
$36.22
|
| Net Operating Income |
$158,140
|
$193.09
|
Financial Summary (Pro forma - 2022)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $182,513 |
| Annual Per SF | $222.85 |
| Other Income (CAD) | |
|---|---|
| Annual | $19,894 |
| Annual Per SF | $24.29 |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $14,601 |
| Annual Per SF | $17.83 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $187,806 |
| Annual Per SF | $229.31 |
| Taxes (CAD) | |
|---|---|
| Annual | $9,424 |
| Annual Per SF | $11.51 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $20,242 |
| Annual Per SF | $24.72 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $29,666 |
| Annual Per SF | $36.22 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $158,140 |
| Annual Per SF | $193.09 |
Property Facts
Sale Type
Investment or Owner User
Property Type
Retail
Property Subtype
Building Size
819 SF
Building Class
C
Year Built/Renovated
1916/1990
Price
$2,595,150 CAD
Price Per SF
$3,169 CAD
Cap Rate
6.12%
NOI
$158,823 CAD
Percent Leased
2%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.23
Lot Size
0.08 AC
Zoning
SF 5000
Frontage
100 ft on NE Ravenna
Amenities
- Corner Lot
MAJOR TENANTS
- Tenant
- Industry
- SF OCCUPIED
- RENT/SF
- Lease End
- Seven Coffee Roasters
- Accommodation and Food Services
- -
- -
- -
| Tenant | Industry | SF OCCUPIED | RENT/SF | Lease End | ||
| Seven Coffee Roasters | Accommodation and Food Services | - | - | - |
Walk Score ®
Walker's Paradise (90)
Transit Score ®
Excellent Transit (71)
Bike Score ®
Very Bikeable (74)
Nearby Major Retailers
PROPERTY TAXES
| Parcel Number | 221800-0060 | Total Assessment | $1,082,787 CAD (2023) |
| Land Assessment | $619,660 CAD (2023) | Annual Taxes | $9,424 CAD ($11.51 CAD/SF) |
| Improvements Assessment | $463,128 CAD (2023) | Tax Year | 2022 |
PROPERTY TAXES
Parcel Number
221800-0060
Land Assessment
$619,660 CAD (2023)
Improvements Assessment
$463,128 CAD (2023)
Total Assessment
$1,082,787 CAD (2023)
Annual Taxes
$9,424 CAD ($11.51 CAD/SF)
Tax Year
2022
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