High Traffic Olympia Office
3435 Martin Way E Olympia, WA 98506
3435 Martin Way E, Olympia, WA, 98506
$2,100,000
For Sale
$2,100,000
Two-story office building with diverse tenant mix and high visibility.
Property Size13,120 SF
Price / SF$160.06
Days on Market201
Property Features for 3435 Martin Way E
General Information
- Standard status
- Active
- Size
- 13,120 SF
- Property subtype
- Commercial
Building Details
- Year Built
- 1992
Listing Agency
VANGUARD REALTY INC.
Listed by
JOHN ORFAO
Source
Corcoran
Added: Dec 31, 2025 Checked: Jul 19 at 4:46 am
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 VANGUARD REALTY INC.
Investment Insights
Based on property information with market context.
This two-story office building is located on Martin Way, offering high traffic exposure and proximity to I-5 and a hospital. The building includes a break area accessible to all tenants and a bathroom on each level. Ramps provide outdoor accessibility between floors, as there is no elevator. The building currently houses a diverse mix of tenants, including a hair salon, mental health services, drug and alcohol counseling, massage therapy, a testing center, and a wellness center. The property's size is 13,120 square feet.
Key Highlights
- High‑traffic location on Martin Way, ideal for business visibility.
- Close proximity to I‑5 and a hospital, offering convenient access.
- Diverse tenant mix including healthcare and wellness services.
Local 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 | $283.4k | $21.60 |
| − Vacancy | −$55.5k | −$4.23 |
| EGI | $227.8k | $17.37 |
| − OpEx | −$57.0k | −$4.34 |
| NOI | $170.9k | $13.02 |
13,120 SF · lease $21.60/SF/yr · vacancy 19.60% · expense 25.00%
Alternative Uses
Best Use
Office B
$2.44M
$2.14M – $2.85M
NOI $170,885 @ 7.0% cap · market cap 8.14%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.84M
$3.36M – $4.48M
NOI $268,908 @ 7.0% cap · market cap 12.81%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
3 Points Healing ...
Medical Clinic
Melannie's Hair Design ...
Hair Salon
Cococouture Hair Co.
Hair Salon
THREE POINTS HEALING
Medical Clinic
Similar For Sale Nearby
FAQs
What type of property is this?
Office building - Two-story office building with diverse tenant mix and high visibility.
Where is this office building located?
The property is located at 3435 Martin Way E Olympia, WA.
What is the asking price?
The asking price for this property is $2,100,000.
What are key features of this property?
This property features: High‑traffic location on Martin Way, ideal for business visibility.; Close proximity to I‑5 and a hospital, offering convenient access.; Diverse tenant mix including healthcare and wellness services.
