Downtown Mixed-Use Retail and
213 4th Ave E Olympia, WA 98501
213 4th Ave E, Olympia, WA, 98501
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For Sale
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Street retail space with bar and commercial kitchen plus seven apartments, each with separate upper-floor entrances.
Property Size6,000 SF
Price / SF$199.83
Days on Market100
Property Features for 213 4th Ave E
General Information
- Standard status
- Active
- Size
- 6,000 SF
- Property subtype
- Retail, Mixed Use
Building Details
- Year Built
- 1908
Listing agency
RE/MAX Parkside Affiliates
(360) 480-9387
Listed by
Thomas Schrader · License #WA 118109
Source
Crexi
Added: Apr 15 Updated: Jul 22 at 6:25PM Checked: Jul 22 at 6:25PM
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 RE/MAX Parkside Affiliates
Investment Insights
Based on property information with market context.
This downtown mixed-use property includes approximately 6,000 square feet of street retail with a bar and commercial kitchen. The building also has seven apartments with separate entrances for the upper floor. The street-level space features tall ceilings and streetside frontage with signage.
Located on a great downtown street with streetside frontage, the property is presented for both retail and residential use within the same structure.
The mix of street retail, bar and kitchen, and multiple separate apartment entrances creates a straightforward configuration for tenants seeking storefront presence alongside residential units.
Located on a great downtown street with streetside frontage, the property is presented for both retail and residential use within the same structure.
The mix of street retail, bar and kitchen, and multiple separate apartment entrances creates a straightforward configuration for tenants seeking storefront presence alongside residential units.
Key Highlights
- Mixed‑use building built in 1908 with street retail and 7 apartments
- Street retail space totals 6,000 SF with a bar and commercial kitchen
- Separate entrances for the upper‑floor apartments
Local 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 | $144.0k | $24.00 |
| − Vacancy | −$7.2k | −$1.20 |
| EGI | $136.8k | $22.80 |
| − OpEx | −$61.6k | −$10.26 |
| NOI | $75.2k | $12.54 |
6,000 SF · lease $24.00/SF/yr · vacancy 5.00% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.07M
$940.5K – $1.25M
NOI $75,240 @ 7.0% cap · market cap 6.28%
Second Best
Retail
$1.03M
$905.3K – $1.21M
NOI $72,425 @ 7.0% cap · market cap 6.04%
Theoretical Best
Office A
$1.76M
$1.54M – $2.05M
NOI $122,976 @ 7.0% cap · market cap 10.26%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
QB Restaurant (Quality ...
Restaurant
Similar For Sale Nearby
FAQs
What type of property is this?
Mixed-use property - Street retail space with bar and commercial kitchen plus seven apartments, each with separate upper-floor entrances.
Where is this mixed-use property located?
The property is located at 213 4th Ave E Olympia, WA.
What is the asking price?
The asking price for this property is $1,199,000.
What are key features of this property?
This property features: Mixed‑use building built in 1908 with street retail and 7 apartments; Street retail space totals 6,000 SF with a bar and commercial kitchen; Separate entrances for the upper‑floor apartments
