Southern Rice Apartments

For Sale

3208 Rainier Ave S, Seattle, WA 98144

This Seattle property for sale is located at 3208 Rainier Ave S. The general use of Southern Rice Apartments is retail and it incorporates 15,117 square feet of class C retail space. The current listed sale price for Southern Rice Apartments is $4,450,000. Southern Rice Apartments is situated on a lot that is 0.17 acre in size.

Contacts

broker

Billy Poll

NAI Puget Sound Properties

Property Details

  • Property Type Retail - Street Retail
  • Property Size 15,117 SF
  • Lot Size 0.17 Acre
  • Additional Rent Contact for pricing
  • Building Class C
  • Date Updated Sep 27, 2024
The Southern Rice Apartments building is situated on the periphery of Seattle’s dynamic Mt. Baker area, known for its blend of historic charm and modern urban amenities. Placed along Rainier Avenue South, this location offers residents easy access to an array of dining, shopping, and entertainment options. The commercial corridor features local businesses, trendy cafes, ethnic eateries, and boutique shops, creating a lively atmosphere that attracts both residents and visitors alike. Additionally, Mt. Baker is celebrated for its community-focused events, fostering a strong sense of community among its residents.NAI Puget Sound Properties is pleased to exclusively offer for sale the Southern Rice Apartments. The property is a highly visible, mixed-use building located on one of Seattle’s most well-known arterials, and offers investors an opportunity to substantially increase the rental income and cash flow over time. The property is very well situated both locally and regionally, and the outlook for the neighborhood is strong for long-term growth and redevelopment.

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Highlights

  • Total Units: 2 Commercial Spaces and 12 apartments
  • Parking: 2 spaces
  • Year Built: 2018
  • Construction Type: Wood frame
  • Property SF: 13,708 (KC records) / 15,117 Owner Records
  • Lot Size: 7,523 (KC records)
  • KC Parcel # 128230-0260
  • Zoning SM-NR 95 (M)
  • 3 blocks away from Mt. Baker light rail station
  • Close to I-5, I-90, downtown Seattle and the First Hill Medical Community
  • Spacious apartments with modern finishes
  • Value-add opportunity with vacant retail units and under-market apartment rents
  • Price $4,450,000 (Price/SF: $295)
  • CAP Rate: 4.30% actual / 6.25% proforma

Attachments

Getting around

  • 87/100

    Walk Score ®

  • 69/100

    Transit Score ®

  • 81/100

    Bike Score ®

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Location

  • City Seattle, WA
  • Neighborhood Mount Baker
  • Zip Code 98144
  • Market Seattle

Points of Interest

  • Beacon Hill

    0.83 miles

  • Stadium

    1.87 miles

  • 12th & Jackson

    1.94 miles

  • 14th & Washington

    1.99 miles

  • 7th & Jackson

    2.13 miles

  • Yesler & Broadway

    2.19 miles

  • 5th Avenue & King

    2.22 miles

  • International District/Chinatown

    2.23 miles

  • 5th & Jackson

    2.24 miles

  • 5th Avenue & Jackson

    2.26 miles

  • 76

    0.23 miles

  • Arco

    0.25 miles

  • Safeway Fuel Station

    0.45 miles

  • Dinoco

    0.68 miles

  • Shell

    0.86 miles

  • Gulf

    1.11 miles

  • Charge Seattle

    1.57 miles

  • Gull

    1.59 miles

  • ChargePoint

    1.89 miles

  • eVgo

    2.56 miles

  • Columbia City Public Parking

    1.30 miles

  • Pacific Medical Garage

    1.53 miles

  • West Garage

    1.60 miles

  • Charles Street Employee Parking

    1.74 miles

  • Lot 15

    1.80 miles

  • Diamond Parking

    1.82 miles

  • Metro Employee Parking

    1.86 miles

  • Starbucks Center Parking

    1.89 miles

  • Starbucks Center employee parking

    1.96 miles

  • T-Mobile Park Garage

    2.00 miles

  • Wingstop

  • Little Chengdu

    0.02 miles

  • Cafe Ibex

    0.11 miles

  • Thien Phat

    0.13 miles

  • Philly's

    0.13 miles

  • Rainier Teriyaki

    0.13 miles

  • Vieng Thong

    0.20 miles

  • Red Sea

    0.21 miles

  • Tacos El Asadero

    0.26 miles

  • Thai Recipe

    0.28 miles

  • Mekong Rainier Supermarket

    0.16 miles

  • QFC

    0.37 miles

  • Safeway

    0.51 miles

  • Ross

    0.55 miles

  • Hilltop Red Apple Market

    0.87 miles

  • La Esperanza Mercado y Carniceria

    0.94 miles

  • Seattle Super Market

    1.16 miles

  • PCC Community Market

    1.17 miles

  • Big John's PFI

    1.64 miles

  • Amazon Fresh

    1.70 miles

In-Depth Research Available for this Property

Access more in-depth information about this property — including ownership, tenant details, property characteristics and transaction history, along with local market insights and much more — on CommercialEdge.

Contact Listing Broker

broker

Billy Poll

NAI Puget Sound Properties