3641 Ensign Rd NE, Olympia, WA 98506
Two-unit medical building with existing tenant and vacant suite.
- Added:
- Oct 25, 2025
- Days on Market:
- 255
- Last Refresh:
- Apr 5 at 9:06 pm
Property Features for 3641 Ensign Rd NE
General Information
- Standard status
- Active
- Size
- 3,562 SF
- Property subtype
- Commercial
Building Details
- Year Built
- 1982
Listing office OLYMPIC SOTHEBY'S INTERNATIONAL REALTY
Listing date Oct 25, 2025
Source Corcoran
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HighLights
- Income‑generating property with an occupied unit bringing in $6,743.41 per month.
- Vacant 1,428 sq ft suite available for owner occupancy or additional tenant.
- Long‑term tenant lease in place through February 2030.
- Well‑maintained building.
- Two‑unit condo medical building.
- Features 23 parking spots.
Overview
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 | $76.9k | $21.60 |
| − Vacancy | −$15.1k | −$4.23 |
| EGI | $61.9k | $17.37 |
| − OpEx | −$15.5k | −$4.34 |
| NOI | $46.4k | $13.02 |
Alternative Uses
Current Use by Public Records
Similar Places 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
Location Insight
- Map
- Local Demand
- City
- Olympia
- County
- Thurston
- State
- Washington
- Longitude
- -122.8430207
- Latitude
- 47.0502012