Iconic Tavern with Apartments
For Sale
Contact for pricing
210 4th Ave E, Olympia, WA
Tavern with commercial kitchen and 12 apartments above.
Property Size10,800 SF
Lot Size0.12 Acres
Price / SF$168.98
Days on Market251
Property Features for 210 4th Ave E
General Information
Standard status
Active
Size
10,800 SF
Lot size
0.12 Acres
Property subtype
RETAIL
Listing Agency:
Coldwell Banker/Evergreen
(360) 791-3869
Listed By:
Deborah Draper-Aikins
(360) 791-3869
Source:
Moodyscre
Added: Nov 28, 2025
Changed: Jul 6
Last Checked: Jul 21 at 4:13AM
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 Coldwell Banker/Evergreen
Investment Insights
Based on property information with market context.
This property features a tavern with a commercial kitchen, a large bar, a covered alley space, and a large area suitable for live music and dancing. Above the tavern are 12 apartments with rents ranging from $650 to $1400. Two of the apartments have been recently remodeled. The property has a size of 10800 square feet. The property was a popular venue for live music and dancing and could potentially be again.
Key Highlights
- Established tavern with potential to revive as a live music and dancing venue.
- Includes a large bar and commercial kitchen.
- Features 12 apartments above the tavern, providing rental income.
Financial Insights For Apartment 5plus
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 | $259.2k | $24.00 |
| − Vacancy | −$13.0k | −$1.20 |
| EGI | $246.2k | $22.80 |
| − OpEx | −$110.8k | −$10.26 |
| NOI | $135.4k | $12.54 |
10,800 SF · lease $24.00/SF/yr · vacancy 5.00% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.93M
$1.69M – $2.26M
NOI $135,432 @ 7.0% cap · market cap 7.42%
Second Best
Retail
$1.86M
$1.63M – $2.17M
NOI $130,365 @ 7.0% cap · market cap 7.14%
Theoretical Best
Office A
$3.16M
$2.77M – $3.69M
NOI $221,357 @ 7.0% cap · market cap 12.13%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,648
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Coffee Central — 925 plum st se, olympia, wa 98501
- CELINE — Olympia, WA 98504
- Plum Street Espresso — 1018 Plum St SE, Olympia, WA 98501
- Swing Wine Bar — 825 Columbia St SW, Olympia, WA 98501
- Capitol Dome Deli — 416 Sid Snyder Ave SW, Olympia, WA 98501
Frequently Asked Questions
What type of property is this?
Bar & Pub - Tavern with commercial kitchen and 12 apartments above.
Where is this bar & pub located?
The property is located at 210 4th Ave E Olympia, WA.
What is the asking price?
The asking price for this property is $1,825,000.
What are key features of this property?
This property features: Established tavern with potential to revive as a live music and dancing venue.; Includes a large bar and commercial kitchen.; Features 12 apartments above the tavern, providing rental income.
