Olympia Office Building For
For Sale
$1,695,000
3912 Martin Way E, Olympia, WA 98506
Office building in Olympia, WA, featuring multiple suites and parking.
Property Size8,203 SF
Price / SF$206.63
Days on Market253
Property Features for 3912 Martin Way E
General Information
Standard status
Active
Size
8,203 SF
Building Details
Year Built
2006
Listing Agency:
Coldwell Banker Evergreen
Listed By:
Debbie Draper
(360) 352-7651
Source:
Livnserverealestate
Added: Jan 27
Changed: Sep 23
Last Checked: Oct 5 at 9:17PM
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 is the first time this office building has been listed individually. The property is configured as four suites that can be easily 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 32 parking spaces. The building will be mostly vacant at closing. The property contains 8203 square feet and is located on Martin Way E in Olympia, WA.
Key Highlights
- Building is mostly vacant at closing.
- At least 32 parking spaces.
- Building is currently in 4 suites that can easily be combined.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$106,842
Cap Rate
6.30%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,136,840
$2.1M
Cap Rate 7%
$1,526,314
$1.5M
Cap Rate 9%
$1,187,133
$1.2M
Market Conditions
NOI Build-Up for 8,203 SF
Gross rent
$177.2K $21.60/SF
− Vacancy
−$34.7K −$4.23/SF
EGI
$142.5K $17.37/SF
− OpEx
−$35.6K −$4.34/SF
NOI
$106.8K $13.02/SF
Area
Thurston County, WA
Vacancy
19.60%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,136,840
Cap Rate 7%
$1,526,314
Cap Rate 9%
$1,187,133
Alternative Uses
Best Use
Office B
$1.53M
$1.34M – $1.78M
NOI $106,842 @ 7.0% cap · market cap 6.30%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.40M
$2.10M – $2.80M
NOI $168,129 @ 7.0% cap · market cap 9.92%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
2,663
Businesses Nearby
Explore this area
Business Placement
Demographics for 98506, WA
19,198
Population
9,041
Households
2.1
Avg Household Size
44
Median Age
51%
College-Educated
96%
High-School Grad
22.4 sq mi
ZIP Area
857
Density / Sq Mi
$93,968
Median Household Income
$50,388
Median Earnings
$1,431
Median Rent
$469,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in West region
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Frequently Asked Questions
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 3912 Martin Way E Olympia, WA.
What is the asking price?
The asking price for this property is $1,695,000.
What are key features of this property?
This property features: Building is mostly vacant at closing.; At least 32 parking spaces.; Building is currently in 4 suites that can easily be combined.
