3207 Rainier Avenue S, Seattle, WA 98144

$4,500,000

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Listing courtesy of Realogics Sotheby's Int'l Rlty.

List Price
$4,500,000
Status
ACTIVE
MLS#
2501253
Days on Market
104
Annual Tax Ammount
25027

Property Description

These strategically positioned parcels with leased 3384sf office building offer a unique opportunity to develop a Middle Housing, Multifamily or Mixed-use project adjacent to the Mount Baker light rail station. Combined, these fully fenced parcels total 16,200sf and are situated within the popular Mount Baker neighborhood. The impressive growth in the area is a testament to the site’s exceptional location and proximity to Seattle’s employment centers. Zoned SM-NR 95 (M), a feasibility study has been conducted by Axis/Caron Architecture envisioning the development of a 5-8-story building housing up to 125 MF or Condominium units. Recent zoning upgrades have increased the opportunity to develop affordable housing alternatives on this site also. Sale and Lease-Back terms are negotiable so don't miss this!

Additional Information

Community
Mt Baker
Building Condition
Good
Style
60 - Comm Bldg Und 10K
Year Built
1955
# of Assigned Spaces
32
Roof
Flat
Tax Year
2025
Potential Terms
Cash
Driving Directions
From Downtown Seattle, Head northwest toward Madison St. Take Rainier Ave S.
Other Expenses
16010
Net Operating Income
$30,037
Gross Scheduled Income
$71,064
Cap Rate
6.67
Total Expenses
$41,037
Based on information submitted to the MLS GRID as of . All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
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