Freestanding Office
For Sale
Contact for pricing
1601 Cooper Point Rd NW, Olympia, WA 98502
PO/RM zoning allows professional office and residential multifamily uses.
Property Size4,064 SF
Price / SF$214.07
Days on Market12
Property Features for 1601 Cooper Point Rd NW
General Information
Standard status
Active
Size
4,064 SF
Property subtype
OFFICE
Zoning
PO/RM
Additional Details
Condition
Turnkey
Property Use
Office
Building Details
Buildings
1
Stories
1
Building Size
4,064 SF
Listing Agency:
Greene Commercial
(360) 528-4167
Listed By:
Terry Wilson · License #105585
(360) 789-5060
Source:
Moodyscre
Added: Oct 26
Changed: Oct 30
Last Checked: Nov 6 at 8:22AM
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 Greene Commercial
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Investment Insights
Based on property information with market context.
This 4,064-square-foot, single-story office building is configured with a reception area, private offices, a conference room, and a break room with stainless steel kitchen appliances. Building systems include an HVAC unit installed in 2021 and a Kohler automatic backup generator.
The property is in Cooper Point Commons professional park in Olympia. A cross-parking agreement provides access to shared parking within the park. City zoning is PO/RM (Professional Office / Residential Multifamily), supporting professional, administrative, and medical office uses.
The property is in Cooper Point Commons professional park in Olympia. A cross-parking agreement provides access to shared parking within the park. City zoning is PO/RM (Professional Office / Residential Multifamily), supporting professional, administrative, and medical office uses.
Key Highlights
- 4,064‑square‑foot standalone office building
- Single‑story layout with reception, private offices, conference room, and break room
- Break room includes stainless steel kitchen appliances
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$52,933
Cap Rate
6.08%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,058,660
$1.1M
Cap Rate 7%
$756,186
$756.2K
Cap Rate 9%
$588,144
$588.1K
Market Conditions
NOI Build-Up for 4,064 SF
Gross rent
$87.8K $21.60/SF
− Vacancy
−$17.2K −$4.23/SF
EGI
$70.6K $17.37/SF
− OpEx
−$17.6K −$4.34/SF
NOI
$52.9K $13.02/SF
Area
Thurston County, WA
Vacancy
19.60%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,058,660
Cap Rate 7%
$756,186
Cap Rate 9%
$588,144
Alternative Uses
Best Use
Office B
$756.2K
$661.7K – $882.2K
NOI $52,933 @ 7.0% cap · market cap 6.08%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.19M
$1.04M – $1.39M
NOI $83,296 @ 7.0% cap · market cap 9.57%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
132
Businesses Nearby
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Business Placement
Demographics for 98502, WA
35,698
Population
15,550
Households
2.3
Avg Household Size
41
Median Age
52%
College-Educated
97%
High-School Grad
63.4 sq mi
ZIP Area
563
Density / Sq Mi
$87,154
Median Household Income
$46,404
Median Earnings
$1,569
Median Rent
$496,500
Median Home Value
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Market
Properties on Market for Office buildings in Olympia
Vacancy Rate% for Office in West region
Frequently Asked Questions
What type of property is this?
Office building - PO/RM zoning allows professional office and residential multifamily uses.
Where is this office building located?
The property is located at 1601 Cooper Point Rd NW Olympia, WA.
What is the asking price?
The asking price for this property is $870,000.
What are key features of this property?
This property features: 4,064‑square‑foot standalone office building; Single‑story layout with reception, private offices, conference room, and break room; Break room includes stainless steel kitchen appliances
