Olympia Office Building For
3910 Martin Way E Olympia, WA 98506
For Sale
$1,875,000
Office building in Olympia, WA, featuring multiple suites and parking.
Property Size8,203 SF
Price / SF$228.57
Days on Market707
Property Features for 3910 Martin Way E
General Information
- Standard status
- Active
- Size
- 8,203 SF
Building Details
- Year Built
- 2006
Listing Agency:
COLDWELL BANKER/EVERGREEN
(360) 791-3869
Listed By:
DEBORAH DRAPER-AIKINS
Source:
Corcoran
Added: Aug 16, 2024
Changed: Mar 16
Last Checked: Mar 16 at 9:09AM
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 COLDWELL BANKER/EVERGREEN
Investment Insights
Based on property information with market context.
This office building, listed for the first time, is configured as four suites that can be readily combined. One suite remains unfinished, offering remodeling potential. The sale is subject to a final lot split with the adjacent building. The property includes at least 42 parking spaces. The building will be mostly vacant at closing. The property has a size of 8203 square feet and is located in Olympia, WA.
Key Highlights
- At least 42 parking spaces
- Building will be mostly vacant at closing
- Building is currently in 4 suites that can easily be combined
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 | $177.2k | $21.60 |
| − Vacancy | −$34.7k | −$4.23 |
| EGI | $142.5k | $17.37 |
| − OpEx | −$35.6k | −$4.34 |
| NOI | $106.8k | $13.02 |
8,203 SF · lease $21.60/SF/yr · vacancy 19.60% · expense 25.00%
Alternative Uses
Best Use
Office B
$1.53M
$1.34M – $1.78M
NOI $106,842 @ 7.0% cap · market cap 5.70%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.40M
$2.10M – $2.80M
NOI $168,129 @ 7.0% cap · market cap 8.97%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Light Dental Studios ...
Dental Office
Hatton Godat Pantier, ...
Civil Engineer
Chehalis - Western Trail ...
Park
Jennifer Reynolds
Dental Office
Adam Livingston Poyfair
Dental Office
FAQs
What type of property is this?
Office building - Office building in Olympia, WA, featuring multiple suites and parking.
Where is this office building located?
The property is located at 3910 Martin Way E 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: At least 42 parking spaces; Building will be mostly vacant at closing; Building is currently in 4 suites that can easily be combined
