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    2640 Lilly Rd NE Olympia, WA 98506

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    For Sale
    $1,875,000

    Land suitable for single-family homes or townhome development.

    Building Details

    Year built
    1984

    Source: KELLER WILLIAMS COMMERCIAL Agent STEVE DORENBUSH, CCIM

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Development Opportunity in Quiet Neighborhood

    This property presents an excellent development opportunity for single-family homes and/or townhomes. The zoning allows up to 8 units per acre, with a potential 15% bonus density for townhomes, estimating a maximum density of 55 lots. The property is level and has no known environmental issues. Sewer and water services are available in the street. It is well-located in a quiet neighborhood, with convenient access to schools, shopping, and restaurants. Situated on the corner of Lilly Rd NE and 26th Ave NE, and directly across the street from The Village at Mill Pond, the new community will benefit from excellent exposure.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Kluthbakes Bakery

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Gym & Fitness Pharmacy

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Olympia
    County
    Thurston
    State
    Washington
    Longitude
    -122.8437995
    Latitude
    47.0695918

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    FAQs

    What type of property is this?
    Land - Land suitable for single-family homes or townhome development.
    Where is this land located?
    The property is located at 2640 Lilly Rd NE Olympia, WA.
    What is the asking price?
    The asking price for this property is $1,875,000.
    What are key features of this property?
    This property features: - Excellent development opportunity for single family and/or townhomes.; - Zoning allows up to 8 units per acre, plus a 15% bonus density for townhomes, estimated at a maximum density of 55 lots.; - Level property with no known environmental issues.
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    Olympia, WA 98506
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    2640 Lilly Rd NE Olympia, WA 98506
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