Single-Story Medical
For Sale
Contact for pricing
1946 4th Ave E, Olympia, WA 98506
A former chiropractic clinic has a layout suited to medical or professional services, with dedicated surface parking.
Property Size2,583 SF
Price / SF$261.32
Days on Market9
Property Features for 1946 4th Ave E
General Information
Standard status
Active
Size
2,583 SF
Class
Class B
Total Parking Spaces
12
Property subtype
OFFICE
Additional Details
Public Transit
Yes
Property Use
Office
Building Details
Buildings
1
Stories
1
Building Size
2,583 SF
Parking Ratio
5.55 per 1,000 SF
Listing Agency:
Greene Commercial
(360) 528-4167
Listed By:
Tyler Kanda · License #23016135
(360) 789-9846
Source:
Moodyscre
Added: Oct 20
Changed: Oct 26
Last Checked: Oct 26 at 7:03PM
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
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 2,583-square-foot Class B medical office building in Olympia has a single-story layout and was previously used as a chiropractic clinic. The property includes 12 dedicated surface parking spaces.
Ralph's Thriftway is within walking distance, and the property is described as close to major transit routes. Showings are by appointment.
Ralph's Thriftway is within walking distance, and the property is described as close to major transit routes. Showings are by appointment.
Key Highlights
- 2,583‑square‑foot Class B medical office building
- 12 dedicated surface parking spaces
- Single‑story layout
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$33,643
Cap Rate
4.98%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$672,860
$672.9K
Cap Rate 7%
$480,614
$480.6K
Cap Rate 9%
$373,811
$373.8K
Market Conditions
NOI Build-Up for 2,583 SF
Gross rent
$55.8K $21.60/SF
− Vacancy
−$10.9K −$4.23/SF
EGI
$44.9K $17.37/SF
− OpEx
−$11.2K −$4.34/SF
NOI
$33.6K $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%
$672,860
Cap Rate 7%
$480,614
Cap Rate 9%
$373,811
Alternative Uses
Best Use
Office B
$480.6K
$420.5K – $560.7K
NOI $33,643 @ 7.0% cap · market cap 4.98%
Second Best
Healthcare Medical
$297.2K
$260.1K – $346.7K
NOI $20,804 @ 7.0% cap · market cap 3.08%
Theoretical Best
Office A
$756.3K
$661.8K – $882.4K
NOI $52,941 @ 7.0% cap · market cap 7.84%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
766
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 98506, WA
19,198
Population
9,041
Households
2.1
Avg Household Size
44
Median Age
51%
College-Educated
96%
High-School Grad
22.4 sq mi
ZIP Area
857
Density / Sq Mi
$93,968
Median Household Income
$50,388
Median Earnings
$1,431
Median Rent
$469,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in West region
Similar Off Market Nearby
- TLC Veterinary Clinic — 1100 Eastside St SE, Olympia, WA 98501
- Healthy Pets Animal Hospital — 2022 4th Ave E, Olympia, WA 98506
- Oly Cats — 106 Wilson St NE, Olympia, WA 98506
- Healthy Pets Animal Hospital: Rosinski Natalee DVM — 2022 4th Ave E, Olympia, WA 98506
- Millar Gregory C DVM — 2766 Martin Way E, Olympia, WA 98506
Frequently Asked Questions
What type of property is this?
Medical Office Space - A former chiropractic clinic has a layout suited to medical or professional services, with dedicated surface parking.
Where is this medical office space located?
The property is located at 1946 4th Ave E Olympia, WA.
What is the asking price?
The asking price for this property is $675,000.
What are key features of this property?
This property features: 2,583‑square‑foot Class B medical office building; 12 dedicated surface parking spaces; Single‑story layout
