Olympia Mixed-Use Investment
1015 4th Ave, Olympia, WA 98502
For Sale
$850,000
Pending
Mid-century modern building suitable for owner/user or investment.
Property Size6,505 SF
Days on Market608
Property Features for 1015 4th Ave
General Information
Standard status
Size
Property subtype
Building Details
Year Built
Listing Agency:
THE RANTS GROUP
Listed By:
CAROLYN GRADEN, CCIM · License #26216
(360) 763-4994
Source:
Corcoran
Added: Mar 11, 2025
Changed: Aug 8
Last Checked: Aug 8 at 12:09PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of THE RANTS GROUP
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Investment Insights
Based on property information with market context.
This mid-century modern building in Olympia, Washington, is currently 100% occupied by a mix of tenants, including medical, dental, office, and hair salon businesses. The property offers a potential opportunity for an owner/user in the future. The property is attractively landscaped and includes on-site parking. The location is situated in a neighborhood setting, making it suitable for personal services. The property consists of two parcels. The building has a size of 6,505 square feet.
Key Highlights
- 100% Occupied: Provides immediate income stream.
- Mid‑Century Modern Building: Appeals to those who appreciate architectural style.
- On‑Site Parking: Convenient for tenants and customers.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$52,393
Cap Rate
6.16%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,047,860
$1.0M
Cap Rate 7%
$748,471
$748.5K
Cap Rate 9%
$582,144
$582.1K
Market Conditions
NOI Build-Up for 6,505 SF
Gross rent
$92.1K $14.16/SF
− Vacancy
−$4.8K −$0.74/SF
EGI
$87.3K $13.42/SF
− OpEx
−$34.9K −$5.37/SF
NOI
$52.4K $8.05/SF
Area
Thurston County, WA
Vacancy
5.20%
Lease Rate
$14.16 /SF/Yr
Expense Ratio
40.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,047,860
Cap Rate 7%
$748,471
Cap Rate 9%
$582,144
Alternative Uses
Best Use
Office B
$1.21M
$1.06M – $1.41M
NOI $84,726 @ 7.0% cap · market cap 9.97%
Second Best
Retail
$1.12M
$981.5K – $1.31M
NOI $78,521 @ 7.0% cap · market cap 9.24%
Theoretical Best
Office A
$1.90M
$1.67M – $2.22M
NOI $133,326 @ 7.0% cap · market cap 15.69%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
741
Businesses Nearby
Explore this area
Business Placement
Demographics for 98502, WA
35,698
Population
15,550
Households
2.3
Avg Household Size
41
Median Age
52%
College-Educated
97%
High-School Grad
63.4 sq mi
ZIP Area
563
Density / Sq Mi
$87,154
Median Household Income
$46,404
Median Earnings
$1,569
Median Rent
$496,500
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Properties on Market for Office buildings in Olympia
Vacancy Rate% for Office in West region
Frequently Asked Questions
What type of property is this?
Office building - Mid-century modern building suitable for owner/user or investment.
Where is this office building located?
The property is located at 1015 4th Ave Olympia, WA.
What is the asking price?
The asking price for this property is $850,000.
What are key features of this property?
This property features: 100% Occupied: Provides immediate income stream.; Mid‑Century Modern Building: Appeals to those who appreciate architectural style.; On‑Site Parking: Convenient for tenants and customers.
