Business

Rainier Beach Liquor Store Rights Sold for $90k

By Rose Egge, KOMO (RVP news partner)

RAINIER BEACH – The Washington State Liquor Control Board has auctioned off the rights to apply for a spirits retail liquor license at 167 state-run liquor stores statewide, including the Rainier Beach store located at 9258 Rainier Avenue South.

According to public record, the rights to the Rainier Beach store were purchased by Aklilu Gebreyesus for $90,100.

Initiative 1183 required the liquor control board to get out of the liquor-selling business this June and auction the state store properties at their current location.

The 121 winning bidders earned the exclusive right to apply for a liquor license at the current location within its current footprint.

Because the state leases the store properties, winning bidders still need to secure a lease with the property’s landlord. If winning bidders can’t secure a lease, they can resell their rights or request another location within a 1-mile radius from which to sell alcohol.

The auction brought in $30.75 million total. The most expensive store went for $750,100 in Tacoma. The least expensive went for $49,600 in Spokane.