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5614 Rainier Ave S 5614 Rainier Ave S 2,592 SF 100% Leased Retail Building Seattle, WA 98118 $775,000 ($299.00/SF)
EXECUTIVE SUMMARY
5614 Rainier Ave S offers a prime development opportunity in the heart of Hillman City, just south of Columbia City in South Seattle. Zoned NC2P-55(M), the site supports mixed-use projects up to 55 feet—perfect for street-level retail with housing or office space above.
The existing 2,592 SF structure is in poor condition, but the property features strong visibility along a high-traffic stretch of Rainier Ave, with three rear parking spaces and nearby transit access.
The seller has previously drafted plans and secured permits for a mixed-use building with ground-floor commercial and studio apartments above—available with a signed LOI. Ideal for housing, creative office, or neighborhood retail in one of Seattle’s most active growth corridors.
The existing 2,592 SF structure is in poor condition, but the property features strong visibility along a high-traffic stretch of Rainier Ave, with three rear parking spaces and nearby transit access.
The seller has previously drafted plans and secured permits for a mixed-use building with ground-floor commercial and studio apartments above—available with a signed LOI. Ideal for housing, creative office, or neighborhood retail in one of Seattle’s most active growth corridors.
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Property Subtype
Storefront Retail/Residential
Building Size
2,592 SF
Building Class
C
Year Built
1906
Price
$775,000
Price Per SF
$299.00
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Building FAR
0.82
Lot Size
0.07 AC
Zoning
NC2P55M - MHA Waiver has been paid!
Frontage
30’ on Rainier Avenue South
Walk Score®
Very Walkable (83)
Bike Score®
Very Bikeable (71)
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 333050-0955 | Improvements Assessment | $175,000 |
| Land Assessment | $441,000 | Total Assessment | $616,000 |
PROPERTY TAXES
Parcel Number
333050-0955
Land Assessment
$441,000
Improvements Assessment
$175,000
Total Assessment
$616,000
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5614 Rainier Ave S | 5614 Rainier Ave S
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