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4551 Rainier Ave S - Columbia City Prime Development Site 0.76 Acres of Commercial Land Offered at $7,500,000 in Seattle, WA 98118
INVESTMENT HIGHLIGHTS
- Corner site with alley access in Columbia City’s core
- Surrounded by high-demand retail, dining, and parks
- Zoned NC2-55(M) with 55-foot height allowance
- Located in an Urban Village with strong demographic metrics
EXECUTIVE SUMMARY
Columbia City is celebrated for its cultural diversity, strong community engagement, and eclectic mix of amenities. Residents and visitors enjoy access to acclaimed restaurants, boutique retail, art galleries, and live music venues—all within walking distance. The area’s exceptional transit connectivity includes the Columbia City Light Rail Station, multiple bus lines, and arterial routes like MLK Jr. Way and I-90, offering seamless access to downtown Seattle, Renton, and SeaTac Airport.
PROPERTY FACTS
| Price | $7,500,000 | Property Subtype | Commercial |
| Sale Type | Investment | Proposed Use | Multifamily |
| No. Lots | 1 | Total Lot Size | 0.76 AC |
| Property Type | Land | ||
| Zoning | NC240 - Neighborhood commercial | ||
| Price | $7,500,000 |
| Sale Type | Investment |
| No. Lots | 1 |
| Property Type | Land |
| Property Subtype | Commercial |
| Proposed Use | Multifamily |
| Total Lot Size | 0.76 AC |
| Zoning | NC240 - Neighborhood commercial |
1 LOT AVAILABLE
Lot
| Price | $7,500,000 | Lot Size | 0.76 AC |
| Price Per AC | $9,868,602.84 |
| Price | $7,500,000 |
| Price Per AC | $9,868,602.84 |
| Lot Size | 0.76 AC |
Positioned in the heart of Columbia City, one of Seattle’s most vibrant and walkable historic districts, this 0.75-acre corner site offers a rare opportunity for transformative development.
DESCRIPTION
Positioned in the heart of Columbia City, one of Seattle’s most vibrant and walkable historic districts, this 0.75-acre corner site offers a rare opportunity for transformative development. Zoned NC2-55(M), the property supports a wide range of commercial and residential uses, including mixed-use structures up to 55 feet in height. With alley access and high visibility along Rainier Avenue South and South Alaska Street, the site is ideally suited for a dynamic urban project that complements the neighborhood’s character. Columbia City is celebrated for its cultural diversity, strong community engagement, and eclectic mix of amenities. Residents and visitors enjoy access to acclaimed restaurants, boutique retail, art galleries, and live music venues—all within walking distance. The area’s exceptional transit connectivity includes the Columbia City Light Rail Station, multiple bus lines, and arterial routes like MLK Jr. Way and I-90, offering seamless access to downtown Seattle, Renton, and SeaTac Airport.
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $182,200 | |
| Land Assessment | $4,965,700 | Total Assessment | $5,147,900 |
PROPERTY TAXES
Contact the Sale Advisor
4551 Rainier Ave S - Columbia City Prime Development Site