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

    3912 Martin Way E Olympia, WA 98506

    Loading data...
    Loading data...
    Loading data...
    For Sale
    $1,875,000

    Office building in Olympia, WA, featuring multiple suites and parking.

    Property size:
    8,203 SF
    Lot size:
    1.24 Acres

    Property Features for 3912 Martin Way E

    General Information

    Size
    8,203 SF
    Lot size
    1.24 Acres

    We can help!

    Listing Contact
    Deborah Draper-Aikins
    Source: Moodyscre

    Listing Agency: Coldwell Banker/Evergreen Listing Agent: Deborah Draper-Aikins

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

    Learn more

    Overview

    Olympia Office Building For Sale

    This is the first time this office building has been listed individually. The property is configured as four suites that can be easily combined. One suite remains unfinished, offering remodeling potential. The sale is subject to a final lot split with the adjacent building. The property includes at least 32 parking spaces. The building will be mostly vacant at closing. The property contains 8203 square feet and is located on Martin Way E in Olympia, WA.
    Location Intelligence

    Current Use by Public Records

    Elizabeth A. Schick, PT Physical Therapist Knust Katie L Family Counselor Holistic Mystic Mermaid ... Health Consultant Astrid Robertson Counselor Laura Y. Gustavson, ... Psychotherapist

    Suggested Use

    Law Firm Realty agency Restaurant Spa & Massage Hair Salon Dental Office Nail Salon Clothing Store Building Supply Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Olympia
    County
    Thurston
    State
    Washington
    Longitude
    -122.838158
    Latitude
    47.048291

    Nearby Similar for Sale

    • $46,955

      Newer Manufactured Home in 55+ Community

      Comfortable, upgraded manufactured home in a convenient 55+ community.
      1111 Archwood Dr SW, Olympia, WA 98502
      View Details
    • $107,000
      1,536 SF

      Alonda Villa 55+ Community Home

      Two-bedroom home in a 55+ community with recent upgrades.
      2207 Alonda Ln NE, Olympia, WA 98516
      View Details
    • $510,000

      Well-Maintained Duplex in Tumwater Neighborhood

      Duplex with two units, garages, fenced yards, great location.
      261 65Th Ct SW, Olympia, WA 98501
      View Details
    • $599,000

      Versatile Horse Property with Income

      Horse property with arena, barn, living quarters, and income potential.
      Case Rd, Olympia, WA 98512
      View Details
    • $85,000
      672 SF

      Updated Home near Black Lake

      Move-in ready home with lake access and updated features.
      4045 49Th Ave SW, Olympia, WA 98512
      View Details
    • Contact for pricing

      Olympia Commercial Space For Sale

      Versatile commercial space ideal for office, wellness, or creative use.
      1211 4Th Ave, Olympia, WA 98506
      View Details
    • $799,000

      Olympia Commercial Office Building For Sale

      Well-maintained commercial office building in the heart of Olympia.
      2617 12Th Ct SW, Olympia, WA 98502
      View Details
    • $1,162,000
      4,648 SF

      Turnkey Veterinary Clinic in Olympia

      Turnkey veterinary clinic in downtown Olympia with flexible commercial zoning.
      1025 State Ave NE, Olympia, WA 98506
      View Details
    • $1,900,000

      Downtown Olympia Office Building

      Two-story office building in downtown Olympia with on-site parking.
      510 Plum St SE, Olympia, WA 98501
      View Details
    • $1,162,000
      4,648 SF

      Turnkey Veterinary Clinic in Olympia

      Turnkey veterinary clinic in downtown Olympia core with ample parking.
      1025 State Ave NE, Olympia, WA 98506
      View Details
    • $489,000

      Solid Brick Building on State

      Brick building with basement, suitable for retail or office.
      1920 State Ave, Olympia, WA 98506
      View Details
    • $369,999

      Olympia Condo with Loft

      Two-bedroom condo near downtown Olympia with loft and modern amenities.
      1516 Decatur St SW, Olympia, WA 98502
      View Details

    FAQs

    What type of property is this?
    Office building - Office building in Olympia, WA, featuring multiple suites and parking.
    Where is this office building located?
    The property is located at 3912 Martin Way E Olympia, WA.
    What is the asking price?
    The asking price for this property is $1,875,000.
    What are key features of this property?
    This property features: - Building is mostly vacant at closing.; - At least 32 parking spaces.; - Building is currently in 4 suites that can easily be combined.
    (360) 791-3869
    Request Owner's contact information
    3912 Martin Way E Olympia, WA 98506
    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.
    3912 Martin Way E
    Olympia, WA 98506
    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
    3912 Martin Way E Olympia, WA 98506
    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
    Deborah Draper-Aikins
    (360) 791-3869
    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.