11427 Rainier Avenue South, Seattle, WA for sale

Investment Overview

NAI Puget Sound Properties is pleased to exclusively offer for sale 11427 Rainier Avenue South, a fully stabilized, newly renovated mixed-use investment property located in Seattle, Washington. The 6,440 square foot building sits on 5,700 square feet of land and features four NNN-leased commercial units on the ground floor and three one-bedroom apartment units on the second floor, all of which are currently 100% occupied. The property underwent a comprehensive renovation in 2020, including a new roof, new wood siding façade, fully remodeled apartment units with updated kitchens, stone countertops, stainless steel appliances, and in-unit laundry, as well as significant improvements to each commercial space. The result is a turnkey asset requiring minimal near-term capital expenditure.

Investment Highlights

• Fully Stabilized, Turnkey Asset
• 100% Occupancy Across All Seven Units — 4 Retail + 3 Apartment Units
• All Tenants Have Recently Signed New Leases or Renewed
• Brand New 5-Year NNN Lease on the Corner Restaurant Space
• Attractive Current Cap Rate of 7.16%
• Full Renovation in 2020 – Remodeled Every Unit, New Roof, HVAC, Lighting, Etc.
• 6,440 SF Building with Excellent Frontage along Rainier Ave South
• Price: $2,095,000