Open Sat
$15,190,000
6.6% cap · 20,740 sq ft RBA · Class C
5424 Rainier Ave S
Seattle, WA 98107
Listed 6 months ago$732/sq ft
01 / 05
For SaleOffice
$15,160,000
491 E Madison St
Queen Anne · Seattle, WA 98103
$504/sq ft51 days on market2.1K views100 saves
Key facts
- Interior
- 30,070 sq ft
- Lot
- 2.09 acres
- Year built
- 1961
- Property type
- Office
- Price / sq ft
- $504/sq ft
- Annual taxes
- $133,410
- Days on market
- 51
Getting around
Walk Score85
Very Walkable
Transit Score68
Good Transit
Bike Score77
Very Bikeable
About this property
Stabilized office building in one of Seattle's tightest submarkets, delivered with in-place income. Roof Deck Amenity is the differentiator in this submarket — very little competing product has it. Tours coordinated through the listing team; Seattle submarket comps included in the package.
Investment summary
Investment summary
Cap rate
6.60%
Net operating income ÷ price
Net operating income
$1,000,560
Annual, after operating expenses
Cash-on-cash
+2.7%
$120,726 annual cash flow on $4,548,000 equity
Occupancy82%
24,657 sq ft leased of 30,070 sq ft
- Tenants
- 3
- Rentable area
- 30,070 sq ft
- Price / sq ft
- $504/sq ft
- WALE
- 8.4 yrs
- Lease type
- Full Service
- Building class
- Class B
- Zoning
- DMU-60
- Parking
- 113 spaces
Cash-on-cash assumes 30% equity, a 6.75% fixed rate and 25-year amortisation — $879,834 of annual debt service. Illustrative only; underwrite with the actual rent roll and operating statements.
Features & amenities
Features & finishes
Outdoor
- Roof Deck Amenity
Interior
- Bike Room & Showers
Systems & Efficiency
- Sprinkler System
Parking & Access
- Structured Parking
Highlights
- Conference Center
- Below-Market Rents
Price history
Every listing event recorded for this property.
- Listed
- Price raise
- Sold
| Date | Event | Price |
|---|---|---|
| 2017-02-05 | Sold | $11,615,000 |
| 2026-06-04 | Listed | $14,474,000 |
| 2026-06-24 | Price raise | $15,160,000 |
Location
Queen Anne, Seattle — King County
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Approximate location · Queen Anne
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Estimated monthly
$91,401/mo
- Principal & interest83%$75,861
- Property tax12%$11,118
- Home insurance5%$4,422
An estimate, not a quote. Insurance is seeded at 0.35% of the purchase price and excludes mortgage insurance, which most lenders require below 20% down.
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Loan amount $12,128,000 · 30 yr · 6.40%
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