Olympia Mixed-Use Investment
1015 4th Ave Olympia, WA 98502
1015 4th Ave, Olympia, WA, 98502
$895,000
For Sale
$895,000
Mid-century modern building suitable for owner/user or investment.
Property Size6,505 SF
Price / SF$137.59
Days on Market500
Property Features for 1015 4th Ave
General Information
- Standard status
- Active
- Size
- 6,505 SF
Building Details
- Year Built
- 1965
Listing agency
THE RANTS GROUP
(360) 763-4994
Listed by
CAROLYN GRADEN, CCIM · License #26216
Source
Corcoran
Added: Mar 11, 2025 Updated: Mar 16 at 9:35AM Checked: Mar 16 at 9:35AM
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 THE RANTS GROUP
Investment Insights
Based on property information with market context.
This mid-century modern building in Olympia, Washington, is currently 100% occupied by a mix of tenants, including medical, dental, office, and hair salon businesses. The property offers a potential opportunity for an owner/user in the future. The property is attractively landscaped and includes on-site parking. The location is situated in a neighborhood setting, making it suitable for personal services. The property consists of two parcels. The building has a size of 6,505 square feet.
Key Highlights
- 100% Occupied: Provides immediate income stream.
- Mid‑Century Modern Building: Appeals to those who appreciate architectural style.
- On‑Site Parking: Convenient for tenants and customers.
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 | $117.1k | $18.00 |
| − Vacancy | −$4.9k | −$0.76 |
| EGI | $112.2k | $17.24 |
| − OpEx | −$33.7k | −$5.17 |
| NOI | $78.5k | $12.07 |
6,505 SF · lease $18.00/SF/yr · vacancy 4.20% · expense 30.00%
Alternative Uses
Best Use
Office B
$1.21M
$1.06M – $1.41M
NOI $84,726 @ 7.0% cap · market cap 9.47%
Second Best
Retail
$1.12M
$981.5K – $1.31M
NOI $78,521 @ 7.0% cap · market cap 8.77%
Theoretical Best
Office A
$1.90M
$1.67M – $2.22M
NOI $133,326 @ 7.0% cap · market cap 14.90%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Northern Highlights
Hair Salon
Insight Geologic, Inc.
Water Testing Service
Patrick L. Ward, ...
Dental Office
Center For Traditional Med
Alternative Medicine Practice
Panda Foot Spa
Alternative Medicine Practice
Similar For Sale Nearby
FAQs
What type of property is this?
Office building - Mid-century modern building suitable for owner/user or investment.
Where is this office building located?
The property is located at 1015 4th Ave Olympia, WA.
What is the asking price?
The asking price for this property is $895,000.
What are key features of this property?
This property features: 100% Occupied: Provides immediate income stream.; Mid‑Century Modern Building: Appeals to those who appreciate architectural style.; On‑Site Parking: Convenient for tenants and customers.
