$25,585,000
5.4% cap · 38,140 sq ft RBA · Class B
959 E Pike St
Seattle, WA 98105
Listed 6 months ago$671/sq ft
01 / 07
Price cut −4%For SaleHospitality
$27,250,000
1463 E Madison St
Capitol Hill · Seattle, WA 98107
$512/sq ft199 days on market3.9K views158 saves
Key facts
- Interior
- 53,230 sq ft
- Lot
- 1.98 acres
- Year built
- 2017
- Property type
- Hospitality
- Price / sq ft
- $512/sq ft
- Annual taxes
- $239,800
- Days on market
- 199
Getting around
Walk Score96
Walker's Paradise
Transit Score80
Excellent Transit
Bike Score85
Very Bikeable
About this property
Value-add hospitality asset in Capitol Hill with below-market rents rolling inside the next cycle. 2 tenants spread the credit risk, and the Absolute Net structure limits landlord exposure. A rare basis in Capitol Hill at this quality tier.
Investment summary
Investment summary
Cap rate
7.40%
Net operating income ÷ price
Net operating income
$2,016,500
Annual, after operating expenses
Cash-on-cash
+5.3%
$435,004 annual cash flow on $8,175,000 equity
Occupancy75%
39,923 sq ft leased of 53,230 sq ft
- Tenants
- 2
- Rentable area
- 53,230 sq ft
- Price / sq ft
- $512/sq ft
- WALE
- 2.3 yrs
- Lease type
- Absolute Net
- Building class
- Class B
- Zoning
- CS
- Parking
- 53 spaces
Cash-on-cash assumes 30% equity, a 6.75% fixed rate and 25-year amortisation — $1,581,496 of annual debt service. Illustrative only; underwrite with the actual rent roll and operating statements.
Features & amenities
Features & finishes
Systems & Efficiency
- Backup Generator
- Sprinkler System
Parking & Access
- On-Site Parking
Highlights
- Conference Center
- Turnkey Buildout
- Build-to-Suit Ready
- Below-Market Rents
- Recent Capital Improvements
- Opportunity Zone
- 24/7 Card Access
Price history
Every listing event recorded for this property.
- Listed
- Price cut
- Sold
| Date | Event | Price |
|---|---|---|
| 2022-10-12 | Sold | $18,693,000 |
| 2026-01-07 | Listed | $28,412,000 |
| 2026-03-18 | Price cut | $27,250,000 |
Location
Capitol Hill, Seattle — King County
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Approximate location · Capitol Hill
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Estimated monthly
$164,292/mo
- Principal & interest83%$136,360
- Property tax12%$19,983
- Home insurance5%$7,948
An estimate, not a quote. Insurance is seeded at 0.35% of the purchase price and excludes mortgage insurance, which most lenders require below 20% down.
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Loan amount $21,800,000 · 30 yr · 6.40%
