Pep Boys (Dark) | Owner/User Automotive Building w/… — Sale in Seattle, WA

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Retail Business
  • Location: Seattle, WA 98119

Photos

Pep Boys (Dark) | Owner/User Automotive Building w/… — Sale in Seattle, WA, photo 1 of 3
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Investment Figures

Cap rate
4.51%

Derived from the asking price and operating figures published for this listing. Informational only — not an appraisal, valuation or financial advice. Verify independently before relying on any figure.

Description

The Brown Group of Marcus & Millichap has been selected to exclusively market for sale and lease a freestanding automotive service center in Seattle's Queen Anne neighborhood. Formerly occupied by Pep Boys, the 5,625 SF building features eight service bays, five roll-up doors, a dedicated reception area, and upstairs office and conference space—purpose-built infrastructure that is difficult to replicate in this submarket. An existing Pep Boys lease runs through December 31, 2027, with the tenant having vacated and expressed interest in an early termination buyout at the Landlord's discretion, providing an owner/user or value-add investor the flexibility to collect income while planning their path to occupancy or repositioning. The property sits directly on Elliott Avenue W with 50,700+ vehicles per day—a primary commuter arterial connecting northwest Seattle to downtown—and is less than six blocks from Seattle Center, including Climate Pledge Arena and the Space Needle. Zoned C2-55 (M), the site supports a broad range of uses and allows up to five stories of development, creating long-term redevelopment optionality in an already supply-constrained submarket. The Queen Anne/Magnolia retail corridor has averaged just 620 SF of new construction annually over the past decade with no retail space currently underway, representing one of the highest barriers to entry in the Northwest. The surrounding trade area is exceptionally dense and affluent: nearly 262,000 residents within a 3-mile radius, average household incomes exceeding $153,000, and a daytime employment base of 296,000+. The population has grown 11% over the past five years and is projected to grow another 5.6%. Major employers including Amazon, Apple, Meta, Google, Expedia, and Nordstrom anchor the surrounding office corridor, with national retailers including Safeway, Walgreens, QFC, and Dick's Drive-In serving the immediate trade area. Washington State has no state income tax. Investment Highlights: • Owner

Market Context

This retail in Seattle, WA is listed for sale. It is offered at an approximate 4.5% capitalization rate, a key benchmark for income-producing retail assets. Compare it against other retail listings for sale in Seattle, WA — view the full market.

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