11427 Rainier Ave S
Mixed Use | 7.16% CAP | 6,440 SqFt
Marketing description
NAI Puget Sound Properties is pleased to exclusively offer for sale 11427 Rainier Avenue South, a fully stabilized, newly renovated mixed-use investment property located in Seattle, Washington. The 6,440 square foot building sits on 5,700 square feet of land and features four NNN-leased commercial units on the ground floor and three one-bedroom apartment units on the second floor, all of which are currently 100% occupied.
The property underwent a comprehensive renovation in 2020, including a new roof, new wood siding facade, fully remodeled apartment units with updated kitchens, stone countertops, stainless steel appliances, and in-unit laundry, as well as significant improvements to each commercial space. The result is a turnkey asset requiring minimal near-term capital expenditure.
Investment highlights
- FULLY STABILIZED, TURNKEY ASSET - The property is 100% occupied across all seven units — four NNN-leased commercial tenants and three residential apartments — delivering immediate, diversified cash flow with no lease-up risk for new ownership.
- ATTRACTIVE GOING-IN YIELD - Offered at a 7.16% capitalization rate, the listing provides investors with a strong day-one return in an infill Seattle submarket where quality mixed-use assets rarely trade.
- NEW LEASES & EXTENSIONS - All seven tenants have recently signed or extended leases, including the restaurant space, which just signed a new 5-year lease, speaking to the stability of the asset.
- EXTENSIVELY RENOVATED IN 2020 - The building underwent a comprehensive renovation including a new roof, new facade, fully remodeled apartment units, and significant improvements to each commercial space.
- IRREPLACEABLE INFILL LOCATION - Situated adjacent to the Boeing Renton Factory, Renton Municipal Airport, and the $590 million Southport mixed-use development — including the Hyatt Regency Lake Washington and over 700,000 square feet of Class A office space under construction — the property sits at the center of one of the region's most active growth corridors.
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