Updated Medical Office
300 Lilly Rd NE Olympia, WA 98506
For Sale
Contact for pricing
Updated private office/clinic building with seven offices, large waiting/reception, and on-site parking.
Property Size2,723 SF
Price / SF$348.88
Days on Market19
Property Features for 300 Lilly Rd NE
General Information
Standard status
Active
Size
2,723 SF
Property subtype
OFFICE
Listing Agency:
BHGRE Commercial Premier NW
(360) 943-9922
Listed By:
Joni Baker
(360) 943-9922
Source:
Moodyscre
Added: Jul 10
Changed: Jul 25
Last Checked: Jul 27 at 2:10PM
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 BHGRE Commercial Premier NW
Investment Insights
Based on property information with market context.
Updated private office/clinic building off Lilly Road in Olympia. The layout includes seven offices, two restrooms, a large waiting room/reception area, and a break room. Additional space is available for storage and may be built out to suit tenant needs.
The property includes parking for staff and visitors. For sale.
The property includes parking for staff and visitors. For sale.
Key Highlights
- Updated private office/clinic building off Lilly Road in Olympia
- Seven offices plus a large waiting room/reception area
- 2 restrooms
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 | $58.8k | $21.60 |
| − Vacancy | −$11.5k | −$4.23 |
| EGI | $47.3k | $17.37 |
| − OpEx | −$11.8k | −$4.34 |
| NOI | $35.5k | $13.02 |
2,723 SF · lease $21.60/SF/yr · vacancy 19.60% · expense 25.00%
Alternative Uses
Best Use
Office B
$506.7K
$443.3K – $591.1K
NOI $35,467 @ 7.0% cap · market cap 3.73%
Second Best
Healthcare Medical
$313.3K
$274.2K – $365.5K
NOI $21,932 @ 7.0% cap · market cap 2.31%
Theoretical Best
Office A
$797.3K
$697.6K – $930.2K
NOI $55,811 @ 7.0% cap · market cap 5.87%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Location Intelligence
Current Use
Similar Off Market Nearby
- Banfield Pet Hospital — 719 Sleater Kinney Rd SE Ste 160, Lacey, WA 98503
- North Olympia Animal Hospital — 3523 Pacific Ave SE, Olympia, WA 98501
- Radiology — 3523 Pacific Ave SE, Olympia, WA 98501
Frequently Asked Questions
What type of property is this?
Medical Office Space - Updated private office/clinic building with seven offices, large waiting/reception, and on-site parking.
Where is this medical office space located?
The property is located at 300 Lilly Rd NE Olympia, WA.
What is the asking price?
The asking price for this property is $950,000.
What are key features of this property?
This property features: Updated private office/clinic building off Lilly Road in Olympia; Seven offices plus a large waiting room/reception area; 2 restrooms
