Classic Office Building Near
917 Lakeridge Way SW Olympia, WA
For Sale
Contact for pricing
Three-story office building with flexible floor plans and ample parking.
Property Size17,836 SF
Lot Size1.06 Acres
Price / SF$149.98
Days on Market661
Property Features for 917 Lakeridge Way SW
General Information
Standard status
Active
Size
17,836 SF
Lot size
1.06 Acres
Property subtype
OFFICE
Listing Agency:
Kidder Mathews
(360) 705-0174
Listed By:
Evan Parker · License #81700
(360) 705-0174
Source:
Moodyscre
Added: Oct 8, 2024
Changed: Jul 6
Last Checked: Jul 21 at 6:43AM
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
Investment Insights
Based on property information with market context.
This classic three-story office building is located near the Thurston County Courthouse, providing excellent access to I-5 and bus routes. The building features flexible floor plans and ample parking. The property is beautifully maintained and has a size of 17836 square feet.
Key Highlights
- Excellent access to I‑5 makes commuting a breeze.
- Located near the Thurston County Courthouse.
- Ample parking for tenants and visitors.
Financial Insights For Office B
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 | $385.3k | $21.60 |
| − Vacancy | −$75.5k | −$4.23 |
| EGI | $309.7k | $17.37 |
| − OpEx | −$77.4k | −$4.34 |
| NOI | $232.3k | $13.02 |
17,836 SF · lease $21.60/SF/yr · vacancy 19.60% · expense 25.00%
Alternative Uses
Best Use
Office B
$3.32M
$2.90M – $3.87M
NOI $232,310 @ 7.0% cap · market cap 8.68%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$5.22M
$4.57M – $6.09M
NOI $365,567 @ 7.0% cap · market cap 13.67%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Office building - Three-story office building with flexible floor plans and ample parking.
Where is this office building located?
The property is located at 917 Lakeridge Way SW Olympia, WA.
What is the asking price?
The asking price for this property is $2,675,000.
What are key features of this property?
This property features: Excellent access to I‑5 makes commuting a breeze.; Located near the Thurston County Courthouse.; Ample parking for tenants and visitors.
