Medical Office
For Sale
Contact for pricing
405 Black Hills Lane SW, Olympia, WA 98502
The fully occupied asset comprises four buildings with metal roofs across four parcels.
Property Size13,318 SF
Price / SF$225.84
Days on Market28
Property Features for 405 Black Hills Lane SW
General Information
Standard status
Active
Size
13,318 SF
Property subtype
OFFICE
Occupancy
100%
Additional Details
Highway Access
Yes
Tenant in Place
Yes
Property Use
Medical Office
Building Details
Buildings
4
Building Size
13,318 SF
Tenancy
Multi
Listing Agency:
The Rants Group
(360) 943-8060
Listed By:
Ian Zarosinski · License #139333
(360) 800-5808
Source:
Moodyscre
Added: Oct 1
Changed: Oct 25
Last Checked: Oct 26 at 6:53PM
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 The Rants Group
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This medical office property is fully occupied and comprises four buildings with metal roofs, situated across four parcels. It is part of Black Hills Medical Park in Olympia, adjacent to MultiCare Capital Medical Center.
Highway 101 and I-5 provide nearby regional access. The property is identified at 405 Black Hills Lane SW.
Highway 101 and I-5 provide nearby regional access. The property is identified at 405 Black Hills Lane SW.
Key Highlights
- Four‑building medical office property across four parcels
- Fully occupied
- Metal roofs
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$165,806
Cap Rate
5.77%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,316,120
$3.3M
Cap Rate 7%
$2,368,657
$2.4M
Cap Rate 9%
$1,842,289
$1.8M
Market Conditions
NOI Build-Up for 12,730 SF
Gross rent
$275.0K $21.60/SF
− Vacancy
−$53.9K −$4.23/SF
EGI
$221.1K $17.37/SF
− OpEx
−$55.3K −$4.34/SF
NOI
$165.8K $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%
$3,316,120
Cap Rate 7%
$2,368,657
Cap Rate 9%
$1,842,289
Alternative Uses
Best Use
Office B
$2.37M
$2.07M – $2.76M
NOI $165,806 @ 7.0% cap · market cap 5.77%
Second Best
Healthcare Medical
$1.46M
$1.28M – $1.71M
NOI $102,530 @ 7.0% cap · market cap 3.57%
Theoretical Best
Office A
$3.73M
$3.26M – $4.35M
NOI $260,914 @ 7.0% cap · market cap 9.08%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
887
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 98502, WA
35,698
Population
15,550
Households
2.3
Avg Household Size
41
Median Age
52%
College-Educated
97%
High-School Grad
63.4 sq mi
ZIP Area
563
Density / Sq Mi
$87,154
Median Household Income
$46,404
Median Earnings
$1,569
Median Rent
$496,500
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
Similar Off Market Nearby
- Banfield Pet Hospital — 1001 Cooper Point Rd SW Ste 125, Olympia, WA 98502
- Capital Pet Urgent Care — 405 Black Hills Ln SW G, Olympia, WA 98502
Frequently Asked Questions
What type of property is this?
Medical Office Space - The fully occupied asset comprises four buildings with metal roofs across four parcels.
Where is this medical office space located?
The property is located at 405 Black Hills Lane SW Olympia, WA.
What is the asking price?
The asking price for this property is $2,875,000.
What are key features of this property?
This property features: Four‑building medical office property across four parcels; Fully occupied; Metal roofs
