Seattle's iconic Old Rainier Brewery is up for sale
SEATTLE - An iconic Seattle landmark is up on the market for a whopping $29 million.
The Old Rainier Brewery – located at 3100 Airport Way S in SODO – is up for sale, according to a Northmarq real estate listing.
What we know:
For $29,035,000, The Old Rainier Brewery could be yours.
The over 181,000 square-foot former brewhouse is made up of 24 upgraded buildings, and greets travelers on I-5 with its neon-red ‘R.'
Currently, 91% of the building is leased across over 95 units. It is home to various creative spaces and businesses, including Groove Universe, Little Red Day Spa, Fantagraphic Books and more.
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The building is listed as a "Unique & Mixed Use Office," and has roughly 23,000 square feet of unfinished space open for conversion into living and working lofts, according to Northmarq.
According to The Old Rainier Brewery website, three ‘Workloft’ units are available to rent with prices ranging from $1000 to $3425 per month.
Previous ownership has invested roughly $17 million in building and environmental improvements, including elevators, sprinklers, plumbing and more.
Rooftop signage and billboard leases provide an additional $129,000 in annual income, according to Northmarq.
The Source: Information in this article is from the Northmarq listing and The Old Rainier Brewery website.
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