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    400 State Ave NE Olympia, WA 98501

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    For Sale
    $1,199,000

    Vacant commercial lot with redevelopment potential in desirable location.

    Lot size:
    0.45 Acres

    Property Features for 400 State Ave NE

    General Information

    Lot size
    0.45 Acres

    Source: The Rants Group Agent Danielle Rants, CCIM

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

    Overview

    Commercial Lot Redevelopment Opportunity

    This vacant commercial lot, totaling 0.45 acres, presents a significant redevelopment opportunity in a highly desirable area. Zoned Urban Waterfront, the property allows for a variety of uses, including retail, multifamily, or mixed-use developments. The site is located within an Opportunity Zone and is adjacent to the Downtown InterCity Transit Station. It offers convenient access from Adams Street NE or State Ave NE. A Phase II Environmental Site Assessment has been completed with favorable results. The property can be combined with the adjacent lot at 416 State Ave, which is 0.29 acres.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Olympia
    County
    Thurston
    State
    Washington
    Longitude
    -122.897796
    Latitude
    47.046374

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    FAQs

    What type of property is this?
    Commercial land - Vacant commercial lot with redevelopment potential in desirable location.
    Where is this commercial land located?
    The property is located at 400 State Ave NE Olympia, WA.
    What is the asking price?
    The asking price for this property is $1,199,000.
    What are key features of this property?
    This property features: - Strategic location in a highly desirable area with significant redevelopment potential.; - .45-acre lot suitable for retail, multifamily, or mixed-use development.; - Zoned Urban Waterfront, offering unique development opportunities.
    (360) 352-7822
    Request Owner's contact information
    400 State Ave NE Olympia, WA 98501
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    Olympia, WA 98501
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    Realmo Value Estimation

    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.

    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.

    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
    400 State Ave NE Olympia, WA 98501
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