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    Corner Commercial Development Site For Sale Title is generated by Realmo AI

    9040 9050 Rainier Avenue S, Seattle, WA 98118

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    For Sale
    $3,999,950

    23,800 SF corner commercial development site in Rainier Beach.

    Type:Commercial
    Property size:
    3,704 SF
    Lot size:
    0.53 Acres
    Price / SF:
    $1,079/SF
    Added:
    Apr 3, 2026
    Days on Market:
    59
    Last Refresh:
    Apr 3 at 8:07 pm

    Property Features for 9040 9050 Rainier Avenue S

    General Information

    Standard status
    Active
    Size
    3,704 SF
    Lot size
    0.53 Acres
    Property subtype
    Commercial

    We can help!

    Listing Contact
    NICK UPSHAW

    Listing agent NICK UPSHAW

    Listing office WINDERMERE REAL ESTATE CO.

    Listing date Apr 3, 2026

    Source Corcoran

    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 WINDERMERE REAL ESTATE CO.

    HighLights

    • Prime 23,800 sq ft corner commercial development site with high traffic and visibility.
    • Located in an Opportunity Zone, Urban Center, Frequent Transit Service Area, and Design Review Equity Area.
    • Three parcels included, offering flexibility in development.
    • High‑profile neighbors including Safeway, Starbucks, Seattle Public Library, and multiple banks and fast‑food chains.
    • Significant street frontage: 140 feet on Rainier Ave South and 170 feet on South Director Street.
    • Zoned NC3P‑55(M) and NC3‑55(M), allowing for a range of commercial uses.

    Overview

    This prime 23,800 square foot level corner commercial development site offers maximum street visibility and high traffic counts in the heart of the Rainier Beach Business District. The site is near Safeway, a Safeway Gas Station, a new Starbucks, the Seattle Public Library, Bank of America, Key Bank, Subway, Washington Federal Bank, McDonalds, KFC/Taco Bell, Planet Fitness, Dollar Tree, and Burrito California Restaurant, and Rainier Beach Dental Clinic. The property features 140 feet of frontage on Rainier Ave South and 170 feet of frontage on South Director Street. It comprises three parcels, all located in an Opportunity Zone, Urban Center, Frequent Transit Service Area, and Design Review Equity Area. Parcel "A" at 9040 Rainier Ave South is currently an office space of 3704 square feet on a 75x110 (8250 square feet) lot, zoned NC3P-55(M). Parcel "B" at 9050 Rainier Ave South is currently retail space of 1440 square feet on a 65x110 (7150 square feet) lot, zoned NC3P-55(M). Parcel "C" at 5112 South Director is a vacant lot measuring 60x140 (8400 square feet), zoned NC3-55(M).
    Location Intelligence

    Current Use by Public Records

    Law Offices of Louis ... Law Firm Addisu Dubale Law Firm Dr. Byungjun Park Dental Office James Choi Dental Office Anwar Sultan Dental Office

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Seattle
    County
    King
    State
    Washington
    Longitude
    -122.2696963
    Latitude
    47.5222157

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    FAQs

    What type of property is this?
    Commercial land - 23,800 SF corner commercial development site in Rainier Beach.
    Where is this commercial land located?
    The property is located at 9040 9050 Rainier Avenue S Seattle, WA.
    What is the asking price?
    The asking price for this property is $3,999,950.
    What are key features of this property?
    This property features: Prime 23,800 sq ft corner commercial development site with high traffic and visibility.; Located in an Opportunity Zone, Urban Center, Frequent Transit Service Area, and Design Review Equity Area.; Three parcels included, offering flexibility in development.
    (206) 324-0000
    We can help!
    Listing Contact
    NICK UPSHAW
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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