Leased Medical Office
For Sale
$1,500,000
Pending
1625 Cooper Point Rd SW, Olympia, WA 98502
Fully leased medical office asset operating as an optical clinic with contractual annual rent increases.
Property SizeContact for details
Days on Market180
Property Features for 1625 Cooper Point Rd SW
General Information
Standard status
Pending
Property subtype
Commercial
Additional Details
Cap Rate
6%
Building Details
Year Built
1985
Listing Agency:
KIDDER MATHEWS
Listed By:
AMY HARDING · License #125436
(360) 705-1337
Source:
Corcoran
Added: Mar 10
Changed: Aug 23
Last Checked: Jul 21 at 11:56AM
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 KIDDER MATHEWS
Investment Insights
Based on property information with market context.
1625 Cooper Point Road NW is a fully stabilized medical office/medical retail asset leased to Team Vision, a wholly owned subsidiary of global eyewear leader Luxottica (EssilorLuxottica). The tenant operates the Olympia Vision Clinic on-site, with investments described in specialized exam lanes, optical equipment, and branded interior improvements.
The property is positioned in the heart of the Cooper Point Road and Black Lake Boulevard corridor in West Olympia, near major healthcare anchors including Providence St. Peter Hospital and MultiCare Capital Medical Center. It is intended to support outpatient healthcare demand within a surrounding mix of medical providers, retail services, and residential neighborhoods.
The lease includes contractual 3% annual rent increases through 2035. Parking is supported by an 8/1,000 parking ratio designed to accommodate patient throughput, and the current lease structure is described as providing predictable cash flow with built-in income growth.
The property is positioned in the heart of the Cooper Point Road and Black Lake Boulevard corridor in West Olympia, near major healthcare anchors including Providence St. Peter Hospital and MultiCare Capital Medical Center. It is intended to support outpatient healthcare demand within a surrounding mix of medical providers, retail services, and residential neighborhoods.
The lease includes contractual 3% annual rent increases through 2035. Parking is supported by an 8/1,000 parking ratio designed to accommodate patient throughput, and the current lease structure is described as providing predictable cash flow with built-in income growth.
Key Highlights
- Fully leased medical retail asset operating as an optical clinic (Team Vision / Olympia Vision Clinic).
- Tenant is a wholly owned subsidiary of Luxottica (EssilorLuxottica), operating at the property location.
- Contractual 3% annual rent increases through 2035.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,271
Businesses Nearby
Balanced
Demand for This Use
Explore this area
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
Market
Vacancy Rate% for Office in West region
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Fully leased medical office asset operating as an optical clinic with contractual annual rent increases.
Where is this medical office space located?
The property is located at 1625 Cooper Point Rd SW Olympia, WA.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: Fully leased medical retail asset operating as an optical clinic (Team Vision / Olympia Vision Clinic).; Tenant is a wholly owned subsidiary of Luxottica (EssilorLuxottica), operating at the property location.; Contractual 3% annual rent increases through 2035.
