Renovated Mixed-Use Investment
11427 Rainier Ave S Seattle, WA 98178
For Sale
Contact for pricing
Turnkey mixed-use building offers four NNN commercial units and three renovated one-bedroom apartments with current full occupancy.
Property Size6,440 SF
Price / SF$325.31
Days on Market54
Property Features for 11427 Rainier Ave S
General Information
- Standard status
- Active
- Size
- 6,440 SF
- Property subtype
- Mixed Use, Multifamily, Retail
Listing Agency:
NAI Puget Sound Properties
Listed By:
Kyle Sterling · License #WA 126435
Source:
Crexi
Added: Jun 2
Changed: Jul 10
Last Checked: Jul 24 at 3:13PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of NAI Puget Sound Properties
Investment Insights
Based on property information with market context.
This newly renovated mixed-use investment property includes a 6,440-square-foot building with four NNN-leased commercial units on the ground floor and three one-bedroom apartment units on the second floor. The building totals seven income-producing units, and all units are currently 100% occupied. Renovations completed in 2020 included a new roof and new wood siding facade, along with fully remodeled apartment interiors featuring updated kitchens, stone countertops, stainless steel appliances, and in-unit laundry. Significant improvements were also made to each commercial space, supporting a turnkey ownership profile with minimal near-term capital expenditure.
Located at 11427 Rainier Avenue South in Seattle, Washington, the property sits on 5,700 square feet of land. The ground-floor commercial component is structured as four separate NNN-leased spaces, while the residential portion is configured as three self-contained one-bedroom units above.
For investors or buyers seeking a diversified income stream within a single asset, the mix of four NNN commercial units and three residential units provides operational flexibility. The 2020 renovation scope and current full occupancy can appeal to those looking for a stabilized, ready-to-own property with a blend of retail/office-style tenancies and residential leases.
Located at 11427 Rainier Avenue South in Seattle, Washington, the property sits on 5,700 square feet of land. The ground-floor commercial component is structured as four separate NNN-leased spaces, while the residential portion is configured as three self-contained one-bedroom units above.
For investors or buyers seeking a diversified income stream within a single asset, the mix of four NNN commercial units and three residential units provides operational flexibility. The 2020 renovation scope and current full occupancy can appeal to those looking for a stabilized, ready-to-own property with a blend of retail/office-style tenancies and residential leases.
Key Highlights
- 6,440 SF mixed‑use building on 5,700 SF of land in Seattle, WA
- 4 ground‑floor commercial units with NNN leases
- 3 second‑floor one‑bedroom apartment units, 100% occupied
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $173.9k | $27.00 |
| − Vacancy | −$7.8k | −$1.22 |
| EGI | $166.1k | $25.79 |
| − OpEx | −$49.8k | −$7.74 |
| NOI | $116.2k | $18.05 |
6,440 SF · lease $27.00/SF/yr · vacancy 4.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$1.66M
$1.45M – $1.94M
NOI $116,239 @ 7.0% cap · market cap 5.55%
Second Best
Apartment 5plus
$1.55M
$1.36M – $1.81M
NOI $108,693 @ 7.0% cap · market cap 5.19%
Theoretical Best
Office A
$1.94M
$1.70M – $2.26M
NOI $135,625 @ 7.0% cap · market cap 6.47%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
AISLE 4OUR
(Bike/Boat/Book/etc) Store
Reiki And Wellness LLC
Alternative Medicine Practice
El Vortex
Gym & Fitness Center
FAQs
What type of property is this?
Triplex - Turnkey mixed-use building offers four NNN commercial units and three renovated one-bedroom apartments with current full occupancy.
Where is this triplex located?
The property is located at 11427 Rainier Ave S Seattle, WA.
What is the asking price?
The asking price for this property is $2,095,000.
What are key features of this property?
This property features: 6,440 SF mixed‑use building on 5,700 SF of land in Seattle, WA; 4 ground‑floor commercial units with NNN leases; 3 second‑floor one‑bedroom apartment units, 100% occupied
