Retail and Industrial
For Sale
Contact for pricing
Pending
3729 Pacific Ave SE, Olympia, WA 98501
Family-owned retail and industrial property with high-traffic location.
Property Size32,482 SF
Days on Market554
Property Features for 3729 Pacific Ave SE
General Information
Standard status
Pending
Size
32,482 SF
Property subtype
Industrial, Retail
Zoning
HDC 1 and General Commercial
Building Details
Buildings
3
Listing Agency:
Premier Commercial NW
Listed By:
Joni Baker · License #77946
(360) 943-9922
Source:
Crexi
Added: Mar 6, 2025
Changed: Sep 10
Last Checked: Sep 11 at 6:42AM
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 Premier Commercial NW
Investment Insights
Based on property information with market context.
This family-owned retail and industrial property has been a cornerstone of the community for over 50 years. Located in a high-traffic location, the property offers visibility and accessibility, suitable for retail and industrial use. The property includes a 6,000 square foot showroom with 2,000 square feet of storage/warehouse space, a 17,612 square foot industrial building that can be divided into three units, and a 6,240 square foot retail/office building. Additionally, there are two vacant parcels zoned General Commercial for future development, such as a small warehouse park, storage units, or parking. The property provides a foundation for various business ventures. Traffic counts in front of the property exceed 26,000 per day. The total property size is 32,482 square feet.
Key Highlights
- Prime, high‑traffic location with excellent visibility and accessibility (26,000+ cars per day).
- Flexible zoning suitable for retail and industrial use.
- Multiple buildings including a 6,000 sf showroom, 2,000 sf storage/warehouse, and a 17,612 sf industrial building divisible into three units.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$392,084
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.43%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$7,841,680
$7.8M
Cap Rate 7%
$5,601,200
$5.6M
Cap Rate 9%
$4,356,489
$4.4M
Market Conditions
NOI Build-Up for 32,482 SF
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.
Gross rent
$584.7K $18.00/SF
− Vacancy
−$24.6K −$0.76/SF
EGI
$560.1K $17.24/SF
− OpEx
−$168.0K −$5.17/SF
NOI
$392.1K $12.07/SF
Area
Thurston County, WA
Vacancy
4.20%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$7,841,680
Cap Rate 7%
$5,601,200
Cap Rate 9%
$4,356,489
Alternative Uses
Best Use
Retail
$5.60M
$4.90M – $6.53M
NOI $392,084 @ 7.0% cap · market cap 6.43%
Second Best
Warehouse
$4.57M
$4.00M – $5.33M
NOI $319,694 @ 7.0% cap · market cap 5.24%
Theoretical Best
Office A
$9.51M
$8.32M – $11.10M
NOI $665,751 @ 7.0% cap · market cap 10.91%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,418
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 98501, WA
45,274
Population
19,969
Households
2.3
Avg Household Size
40
Median Age
48%
College-Educated
97%
High-School Grad
34.9 sq mi
ZIP Area
1,297
Density / Sq Mi
$95,695
Median Household Income
$55,909
Median Earnings
$1,600
Median Rent
$485,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in West region
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Frequently Asked Questions
What type of property is this?
Showroom - Family-owned retail and industrial property with high-traffic location.
Where is this showroom located?
The property is located at 3729 Pacific Ave SE Olympia, WA.
What is the asking price?
The asking price for this property is $6,100,000.
What are key features of this property?
This property features: Prime, high‑traffic location with excellent visibility and accessibility (26,000+ cars per day).; Flexible zoning suitable for retail and industrial use.; Multiple buildings including a 6,000 sf showroom, 2,000 sf storage/warehouse, and a 17,612 sf industrial building divisible into three units.
