Multi-Tenant Medical Office
For Sale
Contact for pricing
410 Black Hills Lane SW, Olympia, WA 98502
Three occupied suites are improved for medical office use.
Property Size6,222 SF
Price / SF$206.53
Days on Market28
Property Features for 410 Black Hills Lane SW
General Information
Standard status
Active
Size
6,222 SF
Property subtype
OFFICE
Occupancy
100%
Additional Details
Highway Access
Yes
Office Units
3
Tenant in Place
Yes
Property Use
Medical Office
Building Details
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 26
Last Checked: Oct 26 at 5:15PM
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
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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 contains three leased suites, all occupied and fitted for medical office use. The multi-tenant configuration is within Black Hills Medical Park.
The property is next to MultiCare Capital Medical Center, with access to Highway 101 and I-5.
The property is next to MultiCare Capital Medical Center, with access to Highway 101 and I-5.
Key Highlights
- Three leased medical office suites, all occupied
- Located next to MultiCare Capital Medical Center
- Access to Highway 101 and I‑5
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$81,040
Cap Rate
6.31%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,620,800
$1.6M
Cap Rate 7%
$1,157,714
$1.2M
Cap Rate 9%
$900,444
$900.4K
Market Conditions
NOI Build-Up for 6,222 SF
Gross rent
$134.4K $21.60/SF
− Vacancy
−$26.3K −$4.23/SF
EGI
$108.1K $17.37/SF
− OpEx
−$27.0K −$4.34/SF
NOI
$81.0K $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%
$1,620,800
Cap Rate 7%
$1,157,714
Cap Rate 9%
$900,444
Alternative Uses
Best Use
Office B
$1.16M
$1.01M – $1.35M
NOI $81,040 @ 7.0% cap · market cap 6.31%
Second Best
Healthcare Medical
$715.9K
$626.4K – $835.2K
NOI $50,113 @ 7.0% cap · market cap 3.90%
Theoretical Best
Office A
$1.82M
$1.59M – $2.13M
NOI $127,526 @ 7.0% cap · market cap 9.92%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
Who owns this building?
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Open Analytics
Current Use
Lease Details
3
Office units
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
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Cap Rate, Value Estimation, Potential NOI and more
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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 - Three occupied suites are improved for medical office use.
Where is this medical office space located?
The property is located at 410 Black Hills Lane SW Olympia, WA.
What is the asking price?
The asking price for this property is $1,285,000.
What are key features of this property?
This property features: Three leased medical office suites, all occupied; Located next to MultiCare Capital Medical Center; Access to Highway 101 and I‑5
