Restaurant Building with Commercial
110-9323 Martin Way E, Olympia, WA 98516
For Sale
$425,000
Equipped for dine-in, takeout, and delivery operations with on-site parking.
Property Size1,200 SF
Price / SF$354.17
Days on Market112
Property Features for 110-9323 Martin Way E
General Information
Standard status
Size
Restaurant
Hood Type
Commercial Hood
Equipment Included
Additional Details
Business Included
Highway Access
Taxes and HOA fees
Annual Taxes
Building Details
Buildings
Listing Agency:
Keller Williams South Sound
Listed By:
Hyun Rim · License WA #140974
(360) 786-6900
Source:
Exprealty
Added: Jul 22
Changed: Nov 3
Last Checked: Nov 10 at 10:08AM
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 Keller Williams South Sound
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Investment Insights
Based on property information with market context.
The offering combines a restaurant building with the established operating business. The 1,200 SF facility includes a commercial kitchen, Type I hood system, walk-in refrigerator, and related restaurant equipment. The existing operation has served the community for more than 20 years, while the space can also accommodate a different restaurant concept.
The property provides on-site parking and convenient access to I-5, JBLM, and the Martin Way corridor. Its configuration supports dine-in service as well as takeout and delivery operations. The building and equipment package provide a ready physical setting for continued restaurant use.
The property provides on-site parking and convenient access to I-5, JBLM, and the Martin Way corridor. Its configuration supports dine-in service as well as takeout and delivery operations. The building and equipment package provide a ready physical setting for continued restaurant use.
Key Highlights
- 1,200 SF restaurant building with established business included
- Commercial kitchen with Type I hood system
- Walk‑in refrigerator and restaurant equipment included
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$13,036
Cap Rate
3.07%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$260,720
$260.7K
Cap Rate 7%
$186,229
$186.2K
Cap Rate 9%
$144,844
$144.8K
Market Conditions
NOI Build-Up for 1,200 SF
Gross rent
$18.1K $15.12/SF
− Vacancy
−$762 −$0.64/SF
EGI
$17.4K $14.48/SF
− OpEx
−$4.3K −$3.62/SF
NOI
$13.0K $10.86/SF
Area
Thurston County, WA
Vacancy
4.20%
Lease Rate
$15.12 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$260,720
Cap Rate 7%
$186,229
Cap Rate 9%
$144,844
Alternative Uses
Best Use
Specialty Retail
$186.2K
$163.0K – $217.3K
NOI $13,036 @ 7.0% cap · market cap 3.07%
Second Best
Industrial
$139.1K
$121.7K – $162.3K
NOI $9,737 @ 7.0% cap · market cap 2.29%
Theoretical Best
Office A
$351.4K
$307.4K – $409.9K
NOI $24,595 @ 7.0% cap · market cap 5.79%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
Turnkey business
Opportunity
Yes
Highway access
Yes
Commercial hood
Location Intelligence
Trade Area within ½ mile
665
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 98516, WA
29,443
Population
11,600
Households
2.5
Avg Household Size
38
Median Age
37%
College-Educated
94%
High-School Grad
28.8 sq mi
ZIP Area
1,022
Density / Sq Mi
$92,191
Median Household Income
$52,188
Median Earnings
$1,948
Median Rent
$528,000
Median Home Value
Market
Vacancy Rate% for Retail in West region
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Equipped for dine-in, takeout, and delivery operations with on-site parking.
Where is this conventional restaurant located?
The property is located at 110-9323 Martin Way E Olympia, WA.
What is the asking price?
The asking price for this property is $425,000.
What are key features of this property?
This property features: 1,200 SF restaurant building with established business included; Commercial kitchen with Type I hood system; Walk‑in refrigerator and restaurant equipment included
