502 Rainier AveSeattle, WA 98144

Property Details for 502 Rainier Ave

Year built

2002

Construction

CONCRETE

Lot size

0.21 AC

Property size (Sq ft)

14,826 SF

Zone code

NC2-75 (M)

Property type

Office properties

Property subtype

Other office properties

APN

332050-0125

APU

3320500125

Description

This exceptional two-story, Class B commercial building, located at 502 Rainier Ave S, Seattle, WA 98144, offers three available suites ideal for office or retail use. The building, constructed in 2003, boasts a total of 8,826 square feet, with each suite ranging from 1,058 to 1,121 contiguous square feet. Currently, the entire 8,826 square feet is vacant, presenting a unique opportunity for a single tenant or multiple occupants. Each suite is equipped with its own private bathroom and individual HVAC system, ensuring comfort and privacy. The property sits on a 0.16-acre lot (6,970 square feet) and benefits from a prime location at the corner of Rainier Ave S and King Street, in the South Capitol Hill neighborhood, providing excellent street visibility and exposure. The building is zoned NC2 and includes 14 parking spaces, offering limited free parking for tenants and clients. The building consists of one structure with two stories. This property is perfect for businesses seeking a well-maintained, conveniently located space with excellent visibility in a vibrant Seattle neighborhood. Minimum divisible space is 1,058 square feet.

• CAP approach

  CAP return

  Valuation

  6%

  $4,011,952

  6.5%

  $3,703,340

  7%

  $3,438,816

• Comparable approach

  Method

  Valuation

  Relative Method

  $3,975,799

  Geo Method

  $2,855,191

• Alternative Use

  Use

  Valuation

  Residential

  $4,592,142

  Hospitality

  $4,206,378

  Educational

  $3,499,657

  Medical

  $3,620,015

  Retail

  $5,443,910

Location Insight

City

Seattle

County

King

State

Washington

Latitude

47.5981

Longitude

-122.313

CBSA code

42660

CBSA name

SEATTLE-TACOMA-BELLEVUE, WA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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