400 Ravenna BlvdSeattle, WA 98115

Property Details for 400 Ravenna Blvd

Year built

2007

Property size (Sq ft)

4,104 SF

Property type

Retail properties

Property subtype

Banks

Description

This exceptional investment opportunity presents a 4,104-square-foot Class A retail bank property located at 400 NE Ravenna Blvd, Seattle, WA 98115, within King County. The property, built in 2007, is a single-tenant net lease (NNN) with KeyBank as the tenant, boasting 100% occupancy. The current lease, expiring September 30, 2027, offers a remaining term of approximately 2.9 years, with four five-year renewal options and 1% annual rent bumps. The asking price is $2,140,000, translating to a price per square foot of $521.44 and a compelling 7.85% cap rate, based on a net operating income (NOI) of $168,273. The property includes twelve dedicated parking spaces, a rare drive-thru ATM, and is situated within the Florera Condo development, a mixed-use building with 59 residential condominiums. Its prime location directly across from Green Lake Park and near Roosevelt light rail station offers exceptional visibility and accessibility. The building holds a LEED Silver Certification. This is a rare opportunity to acquire a well-located, stable, and high-performing retail investment in a desirable Seattle neighborhood.

Location Insight

City

Seattle

County

King

State

Washington

Latitude

47.679

Longitude

-122.325

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