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Investment Highlights

  • Corner site with alley access in Columbia City’s core
  • Surrounded by high-demand retail, dining, and parks
  • Zoned NC2-55(M) with 55-foot height allowance
  • Located in an Urban Village with strong demographic metrics

Executive Summary

Zoned NC2-55(M), the property supports a wide range of commercial and residential uses, including mixed-use structures up to 55 feet in height. With alley access and high visibility along Rainier Avenue South and South Alaska Street, the site is ideally suited for a dynamic urban project that complements the neighborhood’s character.
Columbia City is celebrated for its cultural diversity, strong community engagement, and eclectic mix of amenities. Residents and visitors enjoy access to acclaimed restaurants, boutique retail, art galleries, and live music venues—all within walking distance. The area’s exceptional transit connectivity includes the Columbia City Light Rail Station, multiple bus lines, and arterial routes like MLK Jr. Way and I-90, offering seamless access to downtown Seattle, Renton, and SeaTac Airport.

Property Facts

Price $9,276,832 CAD
Sale Type Investment
No. Lots 1
Property Type Land
Property Subtype Commercial
Proposed Use Multifamily
Total Lot Size 0.76 AC
Zoning NC240 - Neighborhood commercial

1 Lot Available

Lot

Price $9,276,832 CAD
Price Per AC $12,206,952.63 CAD
Lot Size 0.76 AC

Positioned in the heart of Columbia City, one of Seattle’s most vibrant and walkable historic districts, this 0.75-acre corner site offers a rare opportunity for transformative development.

Description

Positioned in the heart of Columbia City, one of Seattle’s most vibrant and walkable historic districts, this 0.75-acre corner site offers a rare opportunity for transformative development. Zoned NC2-55(M), the property supports a wide range of commercial and residential uses, including mixed-use structures up to 55 feet in height. With alley access and high visibility along Rainier Avenue South and South Alaska Street, the site is ideally suited for a dynamic urban project that complements the neighborhood’s character. Columbia City is celebrated for its cultural diversity, strong community engagement, and eclectic mix of amenities. Residents and visitors enjoy access to acclaimed restaurants, boutique retail, art galleries, and live music venues—all within walking distance. The area’s exceptional transit connectivity includes the Columbia City Light Rail Station, multiple bus lines, and arterial routes like MLK Jr. Way and I-90, offering seamless access to downtown Seattle, Renton, and SeaTac Airport.

Moderately walkable
70/100
Very drivable
80/100
Good public transit
70/100
Moderately bikeable
60/100

Property Taxes

Property Taxes

Parcel Numbers
Multiple
  • 170990-0095
  • 170990-0075
  • 170990-0085
Land Assessment
$6,831,910 CAD
Improvements Assessment
$250,674 CAD
Total Assessment
$7,082,584 CAD
  • Listing ID: 38486678

  • Date on Market: 2025-11-18

  • Last Updated:

  • Address: 4551 Rainier Ave S, Seattle, WA 98118

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