$15,160,000
6.6% cap · 30,070 sq ft RBA · Class B
491 E Madison St
Seattle, WA 98103
Listed 7 weeks ago$504/sq ft
01 / 06
Open Aug 1, 2026For SaleRetail
$15,190,000
5424 Rainier Ave S
Green Lake · Seattle, WA 98107
$732/sq ft169 days on market4.1K views95 saves
Key facts
- Interior
- 20,740 sq ft
- Lot
- 1.10 acres
- Year built
- 1975
- Property type
- Retail
- Price / sq ft
- $732/sq ft
- Annual taxes
- $133,670
- Days on market
- 169
Getting around
Walk Score66
Somewhat Walkable
Transit Score59
Good Transit
Bike Score66
Bikeable
About this property
Institutional-quality retail property on Rainier Ave S, Class C, 20,740 square feet. 5 tenants spread the credit risk, and the NNN structure limits landlord exposure. Seller will consider a structured sale-leaseback.
Investment summary
Investment summary
Cap rate
6.60%
Net operating income ÷ price
Net operating income
$1,002,540
Annual, after operating expenses
Cash-on-cash
+2.7%
$120,965 annual cash flow on $4,557,000 equity
Occupancy77%
15,970 sq ft leased of 20,740 sq ft
- Tenants
- 5
- Rentable area
- 20,740 sq ft
- Price / sq ft
- $732/sq ft
- WALE
- 7.4 yrs
- Lease type
- NNN
- Building class
- Class C
- Zoning
- B1-2
- Parking
- 69 spaces
Cash-on-cash assumes 30% equity, a 6.75% fixed rate and 25-year amortisation — $881,575 of annual debt service. Illustrative only; underwrite with the actual rent roll and operating statements.
Features & amenities
Features & finishes
Systems & Efficiency
- Sprinkler System
Parking & Access
- On-Site Parking
Highlights
- Corner Visibility
- Monument Signage
- Anchored Center
- 24/7 Card Access
- Build-to-Suit Ready
- Below-Market Rents
- Recent Capital Improvements
Price history
Every listing event recorded for this property.
- Listed
- Sold
| Date | Event | Price |
|---|---|---|
| 2014-11-28 | Sold | $8,137,000 |
| 2026-02-06 | Listed | $15,190,000 |
Location
Green Lake, Seattle — King County
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Approximate location · Green Lake
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Estimated monthly
$91,581/mo
- Principal & interest83%$76,011
- Property tax12%$11,139
- Home insurance5%$4,430
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 $12,152,000 · 30 yr · 6.40%
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