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Marcus & Millichap Sells Ballard Gas Station In Seattle For $3.2M
SOLD
$3,200,000
Washington
See Similar DealsRetail1,950 SF
Sold 03/25/2024
SOLD
Marcus & Millichap Sells Ballard Gas Station In Seattle For $3.2M
6759 15th Avenue Northwest
See Similar DealsRetail1,950 SF
Sold 03/25/2024
Summary
WASHINGTON
Asset Type:Retail
Price Per Square Foot:$1,641
Total Square Footage:1,950 SF
Transaction Type:Sale
The sale facilitated by Marcus & Millichap involved a gas station in Seattle's Ballard neighborhood, occupied by Shell. The property, located at 6759 15th Ave. NW, was sold for $3.2 million. Spanning 1,950 square feet, the asset was transacted at a price per square foot of $1,641.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $3,200,000
- Address: 6759 15th Avenue Northwest
- Market: Seattle, WA
- Broker: Hank Wolfer - Marcus & Millichap
The sale of the gas station was notable for being a net-leased transaction. Hank Wolfer, representing Marcus & Millichap, played a key role in brokering the deal between the involved parties, adding value to the transaction.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$170,666.66
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$11,368.93
Cash-on-Cash Return-1.27%
Monthly Debt Service$15,169.63
Annual Debt Service$182,035.59
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