Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    3610 Ensign Rd NE Olympia, WA 98506

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    6,222 SF medical office building across from Providence St. Peter Hospital.

    Type:OFFICE
    Property size:
    6,222 SF
    Lot size:
    0.53 Acres
    Price / SF:
    $253/SF
    Added:
    Mar 28, 2025
    Days on Market:
    398
    Last Refresh:
    Apr 5 at 8:33 pm

    Property Features for 3610 Ensign Rd NE

    General Information

    Standard status
    Active
    Size
    6,222 SF
    Lot size
    0.53 Acres
    Property subtype
    OFFICE

    Properties For Sale

    at 3610 Ensign Rd NE Contact us

    We can help!

    Listing Contact
    Ian Zarosinski
    Ian Zarosinski

    Listing agent Ian Zarosinski License #139333

    Listing office The Rants Group

    Listing date Mar 28, 2025

    Source Moodyscre

    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

    Overview

    Medical Office Building Near Hospital

    This 6,222 SF medical office building, formerly a surgical center, is situated on 0.53 acres across from Providence St. Peter Hospital. The property contains nine exam rooms, procedure rooms, multiple reception and administrative areas, four restrooms, eight private offices, a large kitchen/breakroom, and ample storage. It also features 30 off-street parking stalls and a covered patient pickup area. A new roof is planned for completion in June 2025.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Dr. James L. ... Physician RICHARD T. KRUG, ... Physician Surgical Associates P.L.L.C. Medical Clinic Dr. Mark W. ... Physician Olympic Vascular & Vein ... Medical Clinic

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Hair Salon Dental Office Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

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

    Similar Places Nearby

    • Banfield Pet Hospital — 719 Sleater Kinney Rd SE Ste 160, Lacey, WA 98503
    • North Olympia Animal Hospital — 3523 Pacific Ave SE, Olympia, WA 98501
    • Radiology — 3523 Pacific Ave SE, Olympia, WA 98501

    Location Insight

    • Map
    • Local Demand
    City
    Olympia
    County
    Thurston
    State
    Washington
    Longitude
    -122.844
    Latitude
    47.0512

    Nearby Similar for Sale

    • $700,000
      3,740 SF

      Olympia Medical Office Building For Sale

      Well-maintained 3,740 SF medical office building on 0.29 acres.
      1100 Eastside St SE, Olympia, WA 98501
      View Details
    • $1,499,000
      13,657 SF

      Versatile Building with Redevelopment Potential

      13,657 SF building with showroom, storage, and redevelopment options.
      509 E 4th Avenue Olympia, WA 98501
      View Details
    • $1,350,000
      7,572 SF

      Olympia Retail, Office, Warehouse Buildings

      Retail, office, and industrial warehouse buildings with long-term tenants.
      3456 Martin Way E, Olympia, WA
      View Details
    • $999,000
      6,914 SF

      Well-Maintained Office Building For Sale

      Corner lot office building with parking garage and storage.
      234 8th Avenue SE Olympia, WA 98501
      View Details
    • $5,000,000
      8,160 SF

      Olympia Industrial Outside Storage Yard

      Freight and logistics property with I-5 access and secure yard.
      2407 Maytown Rd SW, Olympia, WA 98512
      View Details
    • $815,000
      3,562 SF

      Olympia Medical Building with Income

      Two-unit medical building with existing tenant and vacant suite.
      3641 Ensign Rd NE, Olympia, WA 98506
      View Details
    • $2,100,000
      13,120 SF

      High Traffic Olympia Office Building

      Two-story office building with diverse tenant mix and high visibility.
      3435 Martin Way E, Olympia, WA 98506
      View Details
    • $300,000
      1,006 SF

      Olympia Westside Office Opportunity

      Versatile Olympia property near amenities and Highway 101.
      1700 Cooper Point Rd SW, Olympia, WA 98502
      View Details
    • $1,750,000
      10,630 SF

      Downtown Olympia Office Building

      Two-story office building in downtown Olympia with on-site parking.
      510 Plum St SE, Olympia, WA
      View Details
    • $1,599,000
      4,684 SF

      Prime Olympia Commercial Building

      2120 Caton Way, Olympia, WA 98502
      View Details
    • $499,000
      2,287 SF

      Olympia Office Redevelopment Opportunity

      2,278 SF office building on .16-acre parcel for sale.
      416 State Ave NE, Olympia, WA
      View Details
    • $995,000
      3,360 SF

      Downtown Olympia Corner Retail Space

      Corner retail space in downtown Olympia with high visibility.
      501 S Capitol Way, Olympia, WA
      View Details

    FAQs

    What type of property is this?
    Medical Office Space - 6,222 SF medical office building across from Providence St. Peter Hospital.
    Where is this medical office space located?
    The property is located at 3610 Ensign Rd NE Olympia, WA.
    What is the asking price?
    The asking price for this property is $1,575,000.
    What are key features of this property?
    This property features: Located across from Providence St. Peter Hospital, a 390‑bed non‑profit teaching hospital.; **6,222 SF medical office building**, formerly a surgical center.; Features nine exam rooms, procedure rooms, and multiple reception/administrative areas.
    (360) 800-5808 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Ian Zarosinski
    Ian Zarosinski
    Real Estate License ID: 139333
    Learn More
    Request Owner's contact information
    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.
    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
    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

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!