Turnkey Veterinary Clinic in Olympia

1025 State Ave NE, Olympia, WA 98506

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For Sale

Contact for pricing

Turnkey veterinary clinic in downtown Olympia core with ample parking.

Type:OFFICE

Property size:

4,648 SF

Lot size:

0.24 Acres

Price / SF:

$250/SF

HighLights

Turnkey veterinary clinic in downtown Olympia core.
General Commercial zoning (most liberal zoning).
Two buildings: a 936 SF small house/commercial office with a 936 SF basement, and a larger veterinary building with 2,104 SF on the first floor and 1,608 SF on the second floor.
Potential for rental income from the small house/commercial office.
Vaulted conference room space and shower in the larger veterinary building.
4 on‑site parking spots, plus ample street parking.

We can help!

Listing Contact

Amy Harding

For Sale

Contact for pricing

Turnkey veterinary clinic in downtown Olympia core with ample parking.

Type:OFFICE

Property size:

4,648 SF

Lot size:

0.24 Acres

Price / SF:

$250/SF

Added:: Jun 2, 2025
Days on Market:: 373
Last Refresh:: Apr 5 at 8:37 pm

Property Features for 1025 State Ave NE

General Information

Standard status: Active
Size: 4,648 SF
Lot size: 0.24 Acres
Property subtype: OFFICE

We can help!

Listing Contact

Amy Harding

Listing agent Amy Harding

Listing office Kidder Mathews

Listing date Jun 2, 2025

Source Moodyscre

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 Kidder Mathews

HighLights

Turnkey veterinary clinic in downtown Olympia core.
General Commercial zoning (most liberal zoning).
Two buildings: a 936 SF small house/commercial office with a 936 SF basement, and a larger veterinary building with 2,104 SF on the first floor and 1,608 SF on the second floor.
Potential for rental income from the small house/commercial office.
Vaulted conference room space and shower in the larger veterinary building.
4 on‑site parking spots, plus ample street parking.

Overview

This turnkey veterinary clinic is located in downtown Olympia. The property, situated on 0.24 acres, is zoned General Commercial, the most liberal zoning designation. The site includes a small house or commercial office of 936 square feet with an additional 936 square foot basement suitable for storage, administration, or rental income. The larger veterinary building features a vaulted conference room space and shower above, with 1,608 square feet on the second floor and 2,104 square feet on the first floor. There are 4 parking spots on site, plus ample street parking.

Local Financial Insights For Office B

Simulate Cap Rate and NOI

NOI Build-Up

Component	$	$/SF
Gross rent	$100.4k	$21.60
− Vacancy	−$19.7k	−$4.23
EGI	$80.7k	$17.37
− OpEx	−$20.2k	−$4.34
NOI	$60.5k	$13.02

4,648 SF · lease $21.60/SF/yr · vacancy 19.60% · expense 25.00%

Alternative Uses

Best Use

Office B

$864.8K

$756.7K – $1.01M (±1% cap)

NOI $60,539 @ 7.0% cap · market cap 5.21%

Second Best

Healthcare Medical

$534.8K

$468.0K – $623.9K (±1% cap)

NOI $37,436 @ 7.0% cap · market cap 3.22%

Theoretical Best

Office A

$1.36M

$1.19M – $1.59M (±1% cap)

NOI $95,265 @ 7.0% cap · market cap 8.20%

Zoning and permitted uses should be independently verified with local authorities.

Property Profile Location Intelligence

Current Use by Public Records

Medical Office Space

Suggested Use

Similar Places Nearby

Olympia Veterinary Specialists — 902 Union Ave SE, Olympia, WA 98501
Douglas Roy w DVM — Olympia, WA 98504
OVS Internal Medicine — 902 Union Ave SE, Olympia, WA 98501
TLC Veterinary Clinic — 1100 Eastside St SE, Olympia, WA 98501
Animal Service Division — 1111 Washington St SE, Olympia, WA 98501

Location Insight

Map
Local Demand

City: Olympia
County: Thurston
State: Washington
Longitude: -122.889
Latitude: 47.0464

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For sale
Medical Office Space
WA
Olympia
98506
1025 State Ave NE

What type of property is this?

Medical Office Space - Turnkey veterinary clinic in downtown Olympia core with ample parking.

Where is this medical office space located?

The property is located at 1025 State Ave NE Olympia, WA.

What is the asking price?

The asking price for this property is $1,162,000.

What are key features of this property?

This property features: Turnkey veterinary clinic in downtown Olympia core.; General Commercial zoning (most liberal zoning).; Two buildings: a 936 SF small house/commercial office with a 936 SF basement, and a larger veterinary building with 2,104 SF on the first floor and 1,608 SF on the second floor.

1025 State Ave NE, Olympia, WA 98506

Turnkey veterinary clinic in downtown Olympia core with ample parking.

Property Features for 1025 State Ave NE

General Information

We can help!

HighLights

Overview

Local Financial Insights For Office B

Simulate Cap Rate and NOI

Alternative Uses

Current Use by Public Records

Suggested Use

Similar Places Nearby

Location Insight

Nearby Similar for Sale

Versatile Building with Redevelopment Potential

Olympia Retail, Office, Warehouse Buildings

Well-Maintained Office Building For Sale

Olympia Industrial Outside Storage Yard

Downtown Olympia Office Building

Olympia Medical Office Building For Sale

Olympia Healthcare Investment Opportunity

Olympia Office Space For Lease

Retail Space Near Highway 101

Downtown Olympia Corner Retail Space

High Traffic Olympia Office Building

Two Olympia Office Buildings

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