Mixed-Use Office and Warehouse
1806 4th Ave E Olympia, WA 98506
New
1806 4th Ave E, Olympia, WA, 98506
$575,000
For Sale
$575,000
Two separate buildings with individual addresses include an updated craftsman office and a rear garage/warehouse with 12-foot ceilings.
Property Size2,300 SF
Lot Size0.16 Acres
Price / SF$250
Days on Market4
Property Features for 1806 4th Ave E
General Information
- Standard status
- Active
- Size
- 2,300 SF
- Lot size
- 0.16 Acres
Listing agency
Hayden Outdoors LLC
(866) 741-8323
Listed by
Paul W Valentine · License #16858
(866) 741-8323
Source
Exprealty
Added: Jul 18 Updated: Jul 21 at 2:35AM Checked: Jul 21 at 2:35AM
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 Hayden Outdoors LLC
Investment Insights
Based on property information with market context.
This mixed-use property includes two separate buildings with individual addresses on a 7,000-square-foot lot, offering flexible configurations for owner-users or investors. The front building is an approximately 900-square-foot craftsman-style office that was extensively updated around 1995, including new electrical, plumbing, and HVAC, and it includes a full basement for storage or additional workspace.
The rear building was built in 2001 and combines living space with a shop/garage-warehouse area featuring 12-foot ceilings and a large overhead door measuring about 11 feet high by 12 feet wide. With a spacious 22-by-25-foot garage/warehouse layout, the back building is well suited for uses requiring secure storage and functional work space.
Located just minutes from downtown Olympia, the Capitol Campus, I-5, shopping, dining, and waterfront amenities, the dual-building setup creates options for live/work, office with warehouse space, and income-producing rental scenarios.
The rear building was built in 2001 and combines living space with a shop/garage-warehouse area featuring 12-foot ceilings and a large overhead door measuring about 11 feet high by 12 feet wide. With a spacious 22-by-25-foot garage/warehouse layout, the back building is well suited for uses requiring secure storage and functional work space.
Located just minutes from downtown Olympia, the Capitol Campus, I-5, shopping, dining, and waterfront amenities, the dual-building setup creates options for live/work, office with warehouse space, and income-producing rental scenarios.
Key Highlights
- Mixed‑use property on a 7,000 SF lot with two separate buildings and two addresses for flexible use
- Front building: approx. 900 SF Craftsman‑style office, extensively updated around 1995 with new electrical, plumbing, and HVAC
- Front building includes a full basement for storage or additional workspace
Local Financial Insights For Office B
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 | $49.7k | $21.60 |
| − Vacancy | −$9.7k | −$4.23 |
| EGI | $39.9k | $17.37 |
| − OpEx | −$10.0k | −$4.34 |
| NOI | $30.0k | $13.02 |
2,300 SF · lease $21.60/SF/yr · vacancy 19.60% · expense 25.00%
Alternative Uses
Best Use
Office B
$428.0K
$374.5K – $499.3K
NOI $29,957 @ 7.0% cap · market cap 5.21%
Second Best
Warehouse
$323.4K
$283.0K – $377.3K
NOI $22,637 @ 7.0% cap · market cap 3.94%
Theoretical Best
Office A
$673.4K
$589.3K – $785.7K
NOI $47,141 @ 7.0% cap · market cap 8.20%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Cell Tell Co.
Telecommunications Service
The Taxman
Tax Preparation
Similar For Sale Nearby
Similar Off Market Nearby
- Wildfire BBQ Catering — Southeast, 1510 5th Ave SE, Olympia, WA 98501
FAQs
What type of property is this?
Flex space - Two separate buildings with individual addresses include an updated craftsman office and a rear garage/warehouse with 12-foot ceilings.
Where is this flex space located?
The property is located at 1806 4th Ave E Olympia, WA.
What is the asking price?
The asking price for this property is $575,000.
What are key features of this property?
This property features: Mixed‑use property on a 7,000 SF lot with two separate buildings and two addresses for flexible use; Front building: approx. 900 SF Craftsman‑style office, extensively updated around 1995 with new electrical, plumbing, and HVAC; Front building includes a full basement for storage or additional workspace
