Mixed-Use Property with Office and
For Sale
Contact for pricing
110 Delphi NW, Olympia, WA 98502
The 3.27-acre site includes two occupied spaces, with a lease extending through 2032.
Property Size10,928 SF
Lot Size3.27 Acres
Price / SF$187.59
Days on Market9
Property Features for 110 Delphi NW
General Information
Standard status
Active
Size
10,928 SF
Class
Class A
Lot size
3.27 Acres
Property subtype
INDUSTRIAL
Occupancy
100%
Additional Details
Gross Income
$77,243
Highway Access
Yes
Tenant in Place
Yes
Property Use
Office
Building Details
Tenancy
Multi
Listing Agency:
Kidder Mathews
(253) 722-1400
Listed By:
Evan Parker · License #81700
(360) 705-0174
Source:
Moodyscre
Added: Oct 20
Changed: Oct 26
Last Checked: Oct 26 at 7:36PM
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
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Investment Insights
Based on property information with market context.
This 10,928-square-foot mixed-use property contains a 4,065-square-foot office and a 6,863-square-foot space occupied by Discover Aquatics. The adjacent tenant has updated its locker rooms, and its lease runs through 2032. A well and septic system serve the property.
The site is near Highway 101 and Capital Medical Center. Its 3.27 acres offer room for additional development.
The site is near Highway 101 and Capital Medical Center. Its 3.27 acres offer room for additional development.
Key Highlights
- 10,928 SF building on 3.27 acres
- 4,065 SF office space and 6,863 SF occupied by Discover Aquatics
- Aquatics tenant’s lease extends through 2032
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$89,541
Cap Rate
4.37%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,790,820
$1.8M
Cap Rate 7%
$1,279,157
$1.3M
Cap Rate 9%
$994,900
$994.9K
Market Conditions
NOI Build-Up for 10,928 SF
Gross rent
$150.8K $13.80/SF
− Vacancy
−$7.5K −$0.69/SF
EGI
$143.3K $13.11/SF
− OpEx
−$53.7K −$4.92/SF
NOI
$89.5K $8.19/SF
Area
Thurston County, WA
Vacancy
5.00%
Lease Rate
$13.80 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,790,820
Cap Rate 7%
$1,279,157
Cap Rate 9%
$994,900
Alternative Uses
Best Use
Mixed Use
$1.28M
$1.12M – $1.49M
NOI $89,541 @ 7.0% cap · market cap 4.37%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.20M
$2.80M – $3.73M
NOI $223,980 @ 7.0% cap · market cap 10.93%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
44
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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Frequently Asked Questions
What type of property is this?
Mixed-use property - The 3.27-acre site includes two occupied spaces, with a lease extending through 2032.
Where is this mixed-use property located?
The property is located at 110 Delphi NW Olympia, WA.
What is the asking price?
The asking price for this property is $2,050,000.
What are key features of this property?
This property features: 10,928 SF building on 3.27 acres; 4,065 SF office space and 6,863 SF occupied by Discover Aquatics; Aquatics tenant’s lease extends through 2032
