116 NE State Avenue Olympia, WA 98501
116 NE State Avenue, Olympia, WA, 98501
$736,000
For Sale
$736,000
Storefront properties
Property Size2,000 SF
Price / SF$368
Days on Market78
Property Features for 116 NE State Avenue
General Information
- Standard status
- Active
- Size
- 2,000 SF
- Property subtype
- Commercial
Building Details
- Year Built
- 1946
Listing agency
WeLakeside
(425) 246-1453
Listed by
David Li
(425) 246-1453
Source
Multifamilyspecialist
Added: May 5 Updated: Jul 20 at 6:40PM Checked: Jul 20 at 6:40PM
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 WeLakeside
Investment Insights
Based on property information with market context.
Key Highlights
- 1946‑built, fully leased mixed‑use retail property with 2 retail storefronts
- Building size: 2000+ SF with two fully leased retail spaces generating consistent income
- Recent upgrades include a brand‑new roof
Local Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $36.0k | $18.00 |
| − Vacancy | −$1.5k | −$0.76 |
| EGI | $34.5k | $17.24 |
| − OpEx | −$10.3k | −$5.17 |
| NOI | $24.1k | $12.07 |
2,000 SF · lease $18.00/SF/yr · vacancy 4.20% · expense 30.00%
Alternative Uses
Best Use
Retail
$344.9K
$301.8K – $402.4K
NOI $24,142 @ 7.0% cap · market cap 3.28%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$585.6K
$512.4K – $683.2K
NOI $40,992 @ 7.0% cap · market cap 5.57%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Olympia Budokan - Bujinkan ...
Training Center
Thailand Oil Spa ...
Alternative Medicine Practice
Thailand oil Asian ...
Alternative Medicine Practice
Thailand Oil Massage ...
Alternative Medicine Practice
Similar For Sale Nearby
Similar Off Market Nearby
- Capitol Florist — 515 Capitol Way S, Olympia, WA 98501
- Fleurae — 222 Capitol Way N, Olympia, WA 98501
- Phloxus Farms — 116 Legion Way SE, Olympia, WA 98501
FAQs
Where is this storefront property located?
The property is located at 116 NE State Avenue Olympia, WA.
What is the asking price?
The asking price for this property is $736,000.
What are key features of this property?
This property features: 1946‑built, fully leased mixed‑use retail property with 2 retail storefronts; Building size: 2000+ SF with two fully leased retail spaces generating consistent income; Recent upgrades include a brand‑new roof
