Sign Up Successful!
You now have access to more from Realmo!
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    605-673 Woodland Square Loop SE Lacey, WA 98503

    Loading data...
    Loading data...
    Loading data...
    For Lease
    $20 SF/Yr

    Master-planned office campus with modern updates and excellent access.

    Property size:
    198,970 SF
    Lot size:
    11.56 Acres

    Property Features for 605-673 Woodland Square Loop SE

    General Information

    Size
    198,970 SF
    Lot size
    11.56 Acres

    We can help!

    Listing Contact
    Evan Parker
    Source: Moodyscre

    Listing Agent: Evan Parker

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Lacey Office Campus For Lease

    This master-planned mixed-use campus offers a variety of buildings suitable for tenants seeking high-quality office spaces with contiguous areas. A planned remodel aims to update all common areas with new, modern finishes. The zoning accommodates a wide range of users. Situated in the heart of Lacey, the location provides excellent access to I-5, Olympia, and the greater Puget Sound area. Integrated plazas, courtyards, and parking enhance the campus environment, with close proximity to various amenities. This campus presents an affordable alternative to office campuses in the Seattle/Bellevue area, offering an ideal location at a reasonable cost. The property encompasses a total area of 198970 square feet. Tax ID numbers include: 84990000300, 84990000500, 84990000601, 84990000800, 84990001500, 84990001600, 84990001800, 84990002000, 84990002100, and 84990002200.
    Location Intelligence

    Current Use by Public Records

    Office buildings

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Wholesale Shop Dental Office Auto Repair Shop Hair Salon Clothing Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Lacey
    County
    Thurston
    State
    Washington
    Longitude
    -122.8281076
    Latitude
    47.0417654

    Nearby Similar for Lease

    • $28 SF/Yr
      1,979 SF

      Retail Space in Lacey Center

      Retail space available in well-maintained Lacey shopping center.
      700 Sleater Kinney Rd SE, Lacey, WA 98503
      View Details
    • $0.59 SF/Yr
      274,040 SF

      Modern Logistics Warehouse Sublease Opportunity

      Sublease opportunity near I-5 with modern logistics features.
      7816 Hawks Prairie Rd NE, Lacey, WA 98516
      View Details
    • $20 SF/Yr
      2,206 SF

      Available Office Space with Signage

      Office space with high visibility and abundant parking available for rent.
      4550 3Rd Ave SE, Lacey, WA 98503
      View Details
    • $18 SF/Yr
      1,000 SF

      End-Cap Office or Retail Space

      Light and bright office or retail spaces in mixed-use property.
      9333 Martin Way E, Lacey, WA 98516
      View Details
    • $28 SF/Yr
      15,698 SF

      Lacey Retail Space - Prime Location

      High-Visibility Retail Building, 15,698 SF
      8230 Martin Way, Lacey, WA 98516
      View Details
    • $18 SF/Yr
      16,724 SF

      Bell Centre Executive Suites

      Lacey, WA Office Space Available
      4160 6Th Ave, Lacey, WA 98503
      View Details
    • $23 SF/Yr
      51,226 SF

      Lacey Office Building - 51,226 SF

      Prime Lacey office space, ample parking, great location.
      4200 6Th Ave, Lacey, WA 98503
      View Details
    • $17 SF/Yr
      1,324 SF

      Flexible Suites in Lacey, WA

      Six suites available for retail, office, or light production.
      6045 Balustrade Blvd SE, Lacey, WA 98513
      View Details
    • $21 SF/Yr
      1,530 SF

      Retail Space in Lacey Core

      Retail space available in Lacey's retail core.
      8205 Martin Way E, Lacey, WA 98516
      View Details
    • $42 SF/Yr
      1,209 SF

      Retail Space in Lacey Corridor

      New retail space in Lacey's premier shopping center.
      1200 Galaxy Dr, Lacey, WA 98516
      View Details
    • $1.50 SF/Yr
      37,629 SF

      Lacey Warehouse Space Available Now

      37,629 SF warehouse space available for immediate occupancy.
      3130 Hogum Bay Rd NE, Lacey, WA 98516
      View Details
    • $18 SF/Yr
      15,784 SF

      Lacey Office Building For Lease

      Two-story office building in Lacey, near shopping and services.
      4522 Pacific Ave SE, Lacey, WA 98503
      View Details

    FAQs

    What type of property is this?
    Office building - Master-planned office campus with modern updates and excellent access.
    Where is this office building located?
    The property is located at 605-673 Woodland Square Loop SE Lacey, WA.
    What is the lease rate?
    The lease rate is $20 SF/Yr.
    What are key features of this property?
    This property features: - Excellent access from I-5, Olympia, and the greater Puget Sound area.; - Affordable alternative to Seattle/Bellevue office campuses.; - Master planned mixed-use campus with integrated plazas and courtyards.
    (360) 705-0174
    Request Owner's contact information
    605-673 Woodland Square Loop SE Lacey, WA 98503
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    605-673 Woodland Square Loop SE
    Lacey, WA 98503
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    605-673 Woodland Square Loop SE Lacey, WA 98503
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Evan Parker
    (360) 705-0174
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.